Australians in the dark about personal finances

New research from Raiz Invest has revealed many Australians are in the dark about the state of their personal finances.

This included a lack of clarity on concepts of investing, interest rates on savings accounts and broader financial literacy.

The survey had been commissioned to identify consumers basic understanding of savings and investment options.

Related News:

It also looked at how recent events such as the Royal Commission and the declined property market impacted Australian’s perception of where to invest.

The results revealed three major themes:

  • Over half of Aussies had been unaware that cash is the safest place to invest finances.
  • Men had a higher appetite for investment risk, with 38 per cent of men investing in the equity market compared to only 22 per cent of women.
  • Following the fallout of the recent Royal Commission, almost half of Aussies said they are less inclined to invest their money with the likes of the big four.

Related Content

RC took its toll on fin services workers

It seems as if the Royal Commission has taken its toll on the financial services industry, with over a quarter of industry workers experiencing extrem...Read more

Wide disparity in planning practice valuations

It is a buyer’s market for advisers looking to grow their businesses through acquisition and they are not particularly interested in lower quality f...Read more

IOOF faces class action

Sydney law firm Quinn Emanuel Urquhart & Sullivan has announced its intention to file a class action against IOOF Holdings Limited in the wake of ...Read more



Add new comment