Aussies are saving even more than usual

Low interest rates are allowing people to save more money. The number of Australian households saving money has increased over the past few months, according to the latest St George Bank-Melbourne Institute Financial Conditions Report.

48.6 per cent of households saved some money in December – an increase of 3.3 per cent over the September result. There was a substantial increase in the number of households that reported they were saving “a lot” – up almost double from the previous survey, to 11 per cent.

Source: Banking Day