Australians are meant to be living on the edge – but new reports show they made a very off $50 billion move as the cost of living squeezes.for the first time ever in a three-month period.
That’s an absolutely insane amount of money for people to be stashing away. Before the pandemic we’d be lucky to. ” has gone up from 9.5 per cent in early 2021 to 10 per cent then to 10.5 per cent in the latest year of the chart above.– Hours worked is up too. People who once worked part time are going full time. And people who worked full time are often doing overtime. This is because companies are desperate for staff but also because people need the extra hours to pay their bills.
I checked to see if it might be older people selling their homes, downsizing and putting the money in super. But that theory doesn’t seem to hold up – the housing market has been quiet recently with the number of sales at below last year. And the number of homes listed for sale is well below where it used to be.
If you’re 30-35 and male and you have $97,000, you’re average. If you’re the same age and female you need $74,000 to be average.
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