RAMS , who offers a wide range of financial products (including home loans and RAMS High Savings Account) in Australia, has conducted a survey under 1,087 Australians about how they are saving their money. Based on the results, they have put together the following infographic.
The most interesting facts that this infographic brings to light about saving money in Australia are:
- Only 7 in 10 Australians are saving money every month
- The average savings per month is around AU$ 827.94
- 51% of the Australian who save, save up to 10% of their income
- Over a third of Australians do not know the difference between a transaction account and a savings account
- Only 6 in 10 Australians track their account’s monthly fees
- There is over AU$ 5 billion in lost interest due to savings sitting in low interest accounts