It’s taken ten long years for the repercussions of the financial crisis to stop biting at Aussie wallets. So now that many are breathing a sigh of relief, what are Aussies doing with their new disposable income? It turns out that many are taking the sensible route and investing their hard earned cash in banks, superannuation and investment properties. Gone are the days when cash is stashed under the mattress, as recent statistics show that household bank deposits are almost 1.8 trillion dollars. Similarly, superannuation contributions last year totalled around 95 billion and a record high 23% of Australians now hold investment property.
In the same period, the demand for bank loans has decreased which suggests not only are Australians investing more, but they are being more careful with their money. So why all the saving? Research from MyBudget suggests that holidays, rainy days, and big ticket items are the three top reasons to save at the start of 2015. With around half of the people surveyed saying they are saving regularly, the future is bright for Aussie savers and their families: Check out the infographic to find out more!