Savers missing out on $1100 each

According to the RAMS Savings Satisfaction Report 2013, a third of respondents believe they are not saving enough per month to meet their goals and half of respondents say they are worried they will not have enough money in case of an emergency.

RAMS Chief Executive, Melos Sulicich said; “The majority are taking a ‘set and forget’ approach to managing their savings – potentially missing out on more than $4 billion in lost interest per year.”

“This equates to an extra $1100 for every Australian school age child that could be put back into the pockets of parents to help with living expenses,” Mr Sulicich said.

Source: RAMS