InfoChoice State of Aussies' Savings Survey - July 2024

It’s no secret the past couple of years has been a true challenge for Aussie households and their savings. With mortgage rates increasing rapidly, along with rents, and the cost of living, many are doing it tough. To help get a better understanding of where Australians stand when it comes to their savings, InfoChoice recently surveyed more than 1,000 respondents on how they are saving and spending money in this current cost of living crisis.

Key findings

32.2%Nearly a third have less than $5,000 in savings; one-in-six have less than $1,000.

43.2%The proportion of renters to have 1 month’s income or less in savings, twice as likely as homeowners (19.6%).

27.5%The percentage of people who don’t budget at all, jumping to 31.9% of Baby Boomers.

51.4%More than half admit to spending money on 'vices' such as alcohol, fast food, smoking/vaping, or drugs.

Media

All commentary in this report can be attributed to InfoChoice Money Analyst Harrison Astbury

For all media enquiries regarding this report, please contact:

Email: media@infochoice.com.au
Mobile: 0481 082 565

Past InfoChoice Research & Surveys

InfoChoice Rent Crisis Survey - January 2024

We assess how renters are faring in some of the tightest conditions in Australia’s history. InfoChoice surveyed more than 1,000 renters of all ages and from all states to discover what’s making them tick.

Download Full Report

InfoChoice Real Hardship Survey - October 2023

How are Australian home-owners faring after the fastest series of interest rate rises in over 30 years? InfoChoice recently surveyed 1,000 mortgage-holders of all ages throughout Australia to find out.

Download Full Report

InfoChoice respectfully acknowledges the Traditional Custodians of the land on which we live, learn and work.

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