Australian Saving trends the ages | RaboDirect Blog
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Australian Saving trends the ages- Money tips for your 20s 30s and 40s


The verdict is out: Australians who regularly save their money are happier, healthier and enjoy a greater sense of control over their financial destiny.

The recent RaboDirect National Savings and Debt Barometer identified a strong relationship between happiness and regular saving, suggesting that Australians who are good with money can add the emotional benefits to the fiscal rewards.

But no matter how successfully you manage to save your money, certain stages of life can seriously impact your spending habits and your wallet. Follow our three-step guide to make the most of your finances, whatever your age.


Your twenties might be the best time of your life, but it can also be fraught with financial instability. University education, oversea trips and expensive relocation’s away from the family home can all take a major toll on your financial health.

Although it’s easy to rely on your credit card to make expensive purchases, this is the quickest way to rack up unmanageable debt. Lower your credit limit and get into the habit of paying your card off in full every month ”“ your account balance will thank you in the long-term.

Renting can also eat into your finances and create unnecessary barriers to your dreams of home ownership. If you’re a long-term renter, opening a premium saver or high interest savings account can help you get there faster.


So you’ve sown your wild oats but feel like you can’t quite gain control of your finances? Thirty-somethings are generally settled in their careers and start to seriously consider long-term goals.

This might be a good time to start thinking about buying a property ”“ real estate can work as a powerful catalyst for growing your wealth. It might also be a good idea to enlist the help of a financial adviser and start thinking about investing your funds in stocks, bonds and mutual funds.


By the time you’ve reached your forties, it’s likely that you’ve arrived at the peak of your income earnings and should be accelerating towards your financial goals. This is the time to focus all your efforts on paying off your mortgage and expanding your asset portfolio. It’s also the perfect period to start planning for your retirement and assessing your attitudes towards superannuation.

If you don’t already, use salary sacrifice to increase your super contributions ”“ knowing that your savings account can cope with your retirement costs will bring you peace of mind.

Whether you’re just entering your twenties or preparing for the big half century, RaboDirect can help you increase your savings with a high interest savings account.

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