Aussies want to save more

Australians have become more conservative in their approach to debt, with more people paying off their credit card accounts in full each month and fewer people resorting to debt to meet expenses.

However, a survey of Australians' financial health, prepared for BT Financial Group by Ernst & Young, shows that, while people are addressing immediate debt issues, few are doing any long-term planning.

More than half said they were unable to save as much as they would like and 48 per cent rarely or never make contributions to a super plan.

Source: Banking Day