How much of your income do you save?

The average Australian household saves nine per cent of its income. The Australian Bureau of Statistics reported that the national savings ratio was nine per cent in December 2014, down from 9.3 per cent in the September quarter.

Many experts recommend the best way to save is to organise regular deductions from a transaction account into a high interest online savings account.

Your savings account does not need to be with the same bank or credit union that holds your transaction account.

Source: Banking Day

Advertisement