More Aussies are saving – and they want to travel

More Australians are saving and paying off their debts and more than half say they are doing it so they can travel according to the St George-Melbourne Institute survey of household financial conditions.

St George’s Robert Allan said a strong Australian dollar means cheap travel.

About 60 per cent of households are spending 10 per cent or less of their income paying off debts. “Low interest rates are taking off the pressure,” said St George’s Rob Allan.