Poor products hit Aussies' savings accounts
More Aussies are being forced to dip into their savings accounts in order to pay for repairs when household products fail on them, it has been claimed.
The Department of Fair Trading has suggested that people living in New South Wales alone are forced to part with nearly $1 billion a year to cover maintenance costs, the Australian Associated Press reports.
It received more than 42,500 complaints about consumer goods last year, with the vast majority linked to electrical or gas items.
Plenty of Aussies were also peeved about dysfunctional cars and motorbikes, according to minister Anthony Roberts.
He added that many product manufacturers were negating their legal obligations, forcing Aussies who encounter problems with their goods to sort it out themselves.
Last week, research conducted by ReportsnReports showed that Aussies are becoming far more savvy when buying electrical items, with a growing number comparing products online before parting with any cash.
Have a question about savings accounts? Ask the money gurus at Mozo Answers.