Over half of Aussie millennials don’t have regular savings plan

1,002 Australian millennials aged between 24-39 years old expressed their opinions

millennials

Over half of Aussie millennials don’t have regular savings plan. Source: unsplash.com

Research released by CommBank shows that 61% of Australian millennials don’t have a regular savings plan. Meanwhile, 49% wish they could have more open discussions to develop better ways to manage their money and save.

The topics they are most keen to discuss are strategies to get ahead financially (54%) and spending and savings habits (53%).

While a third of millennials try to put money into savings whenever they can, 1 in 10 are still living pay cheque to pay cheque.

When it comes to the financial achievements that make millennials feel most ‘adult’, the most significant is buying a house (58%), but less than a third (28%) have done so to date.

Smaller, day-to-day wins that feel more achievable include having a full fridge of groceries (22%), and paying for their own streaming services (12%).

That is not to say millennials have given up on their bigger financial ambitions, with more than half (58%) saying they intend to buy a house within the next five years.

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