Graduating students urged to get saving for first home


Friday 28 January 2011

Young Aussies should look to compare student banking in order to get a head-start in their savings, it has been suggested.

Observing that many graduating Year 12 and university students will be searching for their first full-time jobs at present, NAB retail state general manager Dion Crowe argued that young people with aspirations to own property later in life should be saving some money from an early stage in their careers.

"It's worthwhile getting into a savings habit from your very first pay packet as this will assist you in the future if you are seeking finance for a home," he told the South Australian Advertiser.

Mr Crowe noted that even if young people put aside just $20 a week, they can end up saving over $1,000 per year towards a home deposit.

He also urged young Aussies to opt for a high-interest savings account in order to get the best returns on their funds.

This article is brought to you by Mozo – Helping you compare student bankingADNFCR-1761-ID-800372202-ADNFCR

Back to top

Thanks for signing up.

You'll receive your first issue of Money Zone soon.