Fed: Australians finding it impossible to save money

AAP General News (Australia)
08-19-2001
Fed: Australians finding it impossible to save money

Research shows that almost one in three Australians find it impossible to save and
struggle to cover living expenses.

A Commonwealth Bank survey on saving habits shows that most of the 29 per cent of those
unable to save earn less than $35,000.

CBA general manager investment and insurance PETER BECK says the results confirm that
many Australians are finding it hard to save for life's essentials.

He says that starting to save is like going on a diet or joining a gym -- it's tough
and gruelling and best put off for tomorrow.

He says that in reality, savings are now a necessity as consumers look to provide for
themselves in essential areas such as retirement, health and education.

Holidays top the list of things people are saving for, followed by emergencies and
rainy days and retirement.

AAP RTV eg/jmt

KEYWORD: SAVINGS (CANBERRA)

2001 AAP Information Services Pty Limited (AAP) or its Licensors.