Households 'are failing to stick to a budget'

A worrying number of Aussies are failing to stick to a budget, new research has shown.

According to a study conducted by St George Bank, more than half of Australian households do not take the time to plan their finances, National Features reports.

Just 49 per cent of the survey respondents said they managed their monetary situation on a regular basis.

This is particularly surprising when taking the results of the latest Westpac/Melbourne Institute Consumer Sentiment Index into account.

The Australian Associated Press reports that people are far from happy with their financial standing, which makes it even more important that Aussies do not overstretch themselves.

More than a quarter of households stated that they either did not have time, or it was too hard to keep track of their spending.

With more people being able to access their bank accounts online, there really is little excuse for constantly living beyond your means.

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