Half of Aussies need more savings

Single parents and couples with children are suffering the most anxiety as 52 per cent of Australians struggle to accumulate monthly savings, the ME Bank household financial comfort report found.

A quarter of survey respondents said they could not maintain their lifestyle for a month if they lost their job or could not raise $3000 in the case of an unexpected emergency.

Still, 63 per cent of people in the report are managing to meet monthly expenses, despite poorer households worrying about living costs.

Retirees had the highest level of household financial comfort while single parents had the lowest.

Source: NineMSN

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