Aussies 'are struggling to save'

A large percentage of Australians would be in deep trouble if they were to suddenly lose their job, as they have been unable to build up a savings pot.

New research conducted by RaboDirect has found that 46 per cent of Aussies aged between 18 and 65 could not last more than four weeks if an emergency occurred which prevented them from working.

A recent study published by Mercer showed that Australian cities are among the least affordable places to live in the world and it is clear that a lot of people simply don't have enough spare cash to form a nest egg.

Around one in five people don't have savings accounts at all, while 13 per cent have enough money to tide them over for just two weeks.

"The reality is that many Australians are using all their income to support themselves and their families and find saving difficult," Consumer Action Law Centre director Gerard Brody told the Courier-Mail.

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