Most resolve to save more, borrow less in 2012

04/01/2012

More than 50 per cent of all Australians would have made a new year's resolution to improve their financial situation in some way, a new survey by ING DIRECT has found. 34 per cent said they would like to save more; while 24 per cent said they would like to reduce their debt and 16 per cent said they would like to take control of their spending.

Of the Australian respondents, 34 per cent said they plan to 'save more' in 2012 - the same proportion recorded in Italy and the United States, but well below the 64 per cent of residents in India who plan to save more.

Around one in four Australians resolve to cut back personal debt in the New Year - well below the 39 per cent of Turkey's residents but significantly above the 9 per cent of Netherlands respondents who plan to trim household debt in 2012.

ING DIRECT executive director Brett Morgan said aiming to save $50 each week is a more concrete goal than simply aiming to 'save more'.

Source: The Adviser