Aussies' savings would not last a month

Mozo

Wednesday 15 July 2009

More than a third of Aussies would be unable to survive on money stored in their savings account for more than a month if they lost their jobs, Dun and Bradsheet has warned.

The debt collection agency has revealed that four out of ten people would be unable to last more than a month on their savings, while 38 per cent said they would have to call on credit cards to pay household bills if they lost their job.

Responding to the figures, Dun and Bradstreet chief executive Christine Christian said: "There is a very large demographic of people who are first home buyers who have taken advantage of the government’s first homeowners scheme and many of them are feeling quite pressured at the moment."

In March, the company also revealed that 41 per cent of Aussies had missed a bill payment within the preceding 12 months, with phone, utilities and credit cards skipped the most frequently.

This article brought to you by Mozo – helping you compare bank savings accountsADNFCR-1761-ID-19267132-ADNFCR

Compare today's top savings accounts

Back to top