According to a recent survey, over 60 percent of Australian millennials don’t have a savings plan for their future, while a third only save occasionally. Commbank research surveyed 1,002 Australians aged 24-39 during April and studied millennials’ attitudes and habits towards their personal finances. It found that only two in five have a regular savings plan that they stick to, while one in ten is still living paycheque to paycheque. CBA Executive General Manager Everyday Banking Kate Crous said millennial Australians know the importance of having a savings plan but feel they need more tools and strategies to help them. “We recognise many young Australians want to be more in control of their spending so they can start focusing on longer-term goals, whether that’s saving for a rainy day or buying a home,” Crous said Speaking about the studies findings, ME Bank Money Expert Matthew Read told Saving.com.au that outside factors …
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