Top financial priorities revealed

by |

Australians prioritise spending on holidays and leisure over longer-term financial goals according to a nationwide poll from life insurer TAL.

The poll asked 1200 Australians to rate a number of financial goals as either ‘very important’, ‘quite important’ or ‘not at all important’.

Almost three quarters of Australians (74%) said their current financial priority was spending on leisure. This was followed by spending on holidays and saving for retirement, with 71% of people rating these goals as either ‘very’ or ‘quite’ important.

“These findings from our life insurance barometer project provide some interesting insights into the mood of the nation. Despite a pessimistic outlook for the economy in 2013, Australians will still celebrate the festive season with the customary focus on leisure spending,” said TAL managing director Jim Minto.

The financial priorities of Australians (% rating as very or quite important)

 

 

NSW/ACT

VIC/TAS

QLD

SA

WA

National

Spending on leisure

77%

73%

71%

72%

70%

74%

Saving for a holiday

72%

73%

73%

67%

66%

71%

Saving for retirement

76%

69%

70%

66%

64%

71%

Life insurance for financial protection

61%

51%

53%

49%

49%

55%

Acquiring new technology

51%

51%

45%

45%

42%

48%

Buying a car

44%

44%

41%

36%

40%

43%

Buying a new home

49%

43%

41%

36%

34%

43%

Getting a job

48%

46%

38%

42%

35%

42%

Paying for care of dependents

45%

40%

44%

38%

35%

42%

Saving for kids education

43%

37%

42%

31%

36%

40%

Paying for training

43%

35%

38%

34%

33%

38%

Buying an investment property

36%

31%

30%

26%

23%

31%

 

WP forum is the place for positive industry interaction and welcomes your professional and informed opinion.

Name (required)
Comment (required)
By submitting, I agree to the Terms & Conditions