How much the average Aussie has in savings

How much money do you have saved? Well, according to new data, the average Aussie has $34,507 stashed away.

Aussie men aged 50-64 had the most saved at $106,236, according to the new data from NAB. Meanwhile, young women aged 18-29 had the least amount stashed away, at $11,153.

Aussies in capital cities also managed to save more at $38,103, while those in regional cities had $28,567 and rural areas had $26,928.

Unsurprisingly, Aussies on higher incomes managed to save more, with Aussies earning $100,000 or more per year having $58,280 saved on average. Meanwhile, Aussies earning between $75,000 to $100,000 said they had around $30,046 saved.

Nearly three quarters of the more than 2,000 Aussies surveyed said they were trying to build up their savings, but around one in five said they had less saved than three months ago.

“Australians are more engaged with their finances than they have been for a long time, in part due to their concerns around increased living costs,” NAB personal banking executive Mark Baylis said.

“It’s no surprise – given rising energy bills, food, grocery and transport costs – that more than half of Australians identify a rising cost-of-living as the most common cause of stress over the past three months.”

It comes as more Aussies say their income has increased over the past three months, with around a quarter expecting to earn an average of $147 per week more this year.

 

Average Aussie savings

So how do your savings compare? Here’s how much Aussies of different ages and genders have saved up, according to NAB.

Age Average savings – male Average savings – female
18-29 $18,712 $11,153
30-49 $27,005 $24,081
50-64 $106,236 $22,759
65+ $98,312 $46,044

 

article from: au.finance.yahoo.com