Aussies confident over finances in 2012, survey shows

Mozo

Wednesday 25 January 2012

Three-quarters of Australians are confident about their financial situation in 2012, new figures have suggested.

According to research conducted by ING Direct, many people boosted the amount of money going into their savings accounts over the past 12 months, which has put them in a strong position this year.

Indeed, 65 per cent of respondents improved their financial footing in 2011, with 38 per cent of this number citing enhanced household savings as the main reason for this.

Despite this, some are still concerned about the deteriorating economy and 22 per cent fear that they may struggle to make ends meet in the near future.

Chief executive officer at ING Direct Don Koch said it is encouraging that Aussies are taking responsibility for their finances.

"By building a buffer of savings, focusing on essential purchases and tightening household budgets, many Australians have shored up their financial position," he remarked.

A study conducted by researchers at the Cleveland State University in Ohio in the US recently showed that people who exercise regularly are more likely to have a bigger pot of money stashed away in their savings, as active people have far greater earning power, the Daily Telegraph reported.

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Aussies confident over finances in 2012, survey shows

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