Aussies adding to savings accounts by selling second-hand items

Mozo

Monday 05 September 2011

The savings accounts of Australians may be being boosted by the practice of selling second-hand items, a new study has revealed.

Aussies 'love to buy and sell second-hand goods'

Conducted by Gumtree Australia, the survey revealed that the average person in the country makes $2,431 each year by selling unwanted goods.

While much has been made of the cautious consumer sentiment in recent months, investment adviser Scott Pape suggested to news.com.au that Aussies are purchasing goods, but that they may be doing so in "smarter ways".

On average, 83 per cent of people were found to purchase second-hand items.

Generation Y consumers were found to be the most adept at filling their savings accounts by getting rid of products they no longer needed, with the average person in this demographic earning $3,024 annually.

Books were the most popular item among purchasers, followed by clothing, shoes and accessories.

Bendingo & Adelaide Bank's chief executive Mike Hirst recently told the Herald Sun that Aussies are trying to consolidate their debts and save money rather than spend their spare cash.

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