Many Aussies 'concerned about finances'

More than one in two Australians are concerned about their personal finances, a new study has found.

Research undertaken by Dun & Bradstreet has shown that 69 per cent of those earning less than $50,000 a year are worried about the state of their bank balance, while 62 per cent of people aged between 50 and 64 are also having sleepless nights because of their precarious financial situation.

The organisation confirmed that the uptake of savings accounts across the country is at a 20-year high.

Despite this, one in three Aussies admitted that they would not be able to last more than a week if they suddenly lost their job. In fact one in four low-income households said they had no financial buffer whatsoever.

Director at Dun & Bradstreet Adam Siddique said the report highlights the fact that many Aussies are living "hand to mouth" at the moment and have no spare cash to create a nest egg for their future.

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