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AUSTRALIANS SAVING LESS, SPENDING MORE: SURVEY.
SYDNEY, Dec 1 Asia Pulse - Many Australians lack the motivation to save money, but when it comes to spending, it's another matter, new figures show.
A survey conducted for online superannuation fund Max Super found that one in four of the 798 Australians surveyed kept nothing at all from their income to put towards their savings.
Only half of the respondents sometimes put part of their income towards their savings.
Max Super chief executive Andrew Barlow said many Australians were out for instant gratification and were willing to take on debt instead of saving for things in advance.
"This is great when you have years of income ahead of you, but may become an issue upon retirement," he said.
The survey found that three out of four respondents stated that over 50 per cent of their income went towards day to day living expenses.
Mr Barlow said it appeared many people were exhausting their pay packet on their household living costs and credit card bills instead of saving.
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Source: HighBeam Research, AUSTRALIANS SAVING LESS, SPENDING MORE: SURVEY.