Bogan MSM article on Aussie Saving rate at new highs..

Discussion in 'Currencies' started by Blockhead, Jun 2, 2011.

  1. Blockhead

    Blockhead Active Member

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    Cliff Notes:

    - Savers now have about $560 million on deposit at banks and other institutions, up more than $200 million since the beginning of 2007, before the onset of the financial crisis.
    -On an annualised basis, Australians saved 8.9 per cent more in the three months to March than in the previous quarter.
    -Historically, cash provided the lowest long-term returns in a portfolio of asset classes.

    Plus the good old news.com spelling mistake
    The Great Dark Horde is an independent "household" (a social sub-group or quasi-fraternal organization) within the Society for Creative Anachronism (SCA) a historical reenactment group founded with the aim of studying and recreating pre-17th century Western European cultures and their histories.



    Story here.
     
  2. systematic

    systematic Well-Known Member

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    Aussies are cashing up and trying to play it safe ....
     
  3. fishball

    fishball New Member Silver Stacker

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    Clearly all saving up for dragons ;)
     
  4. projack

    projack Well-Known Member Silver Stacker

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    560 million divided by the population of 22 million is about $25/person, or since 2007 each of us saved $9, (22 cents a month).
     
  5. Agauholic

    Agauholic New Member

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    $560 million in dry powder Vs
    $1.1 million million in mortgage debt

    We are still hording houses
     
  6. fishball

    fishball New Member Silver Stacker

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    So... basically the average person only has $25 in their bank account? LOL

    I'm better than average then...I managed to spend down to my last 33 dollars last month (excluding TDs etc etc)! :D

    Impressive... if we consider a $60k salary average, that's just 1/2400th of their salary or 0.00041666*%. Compared with the 10%+ in Asia oh man LOL
     
  7. PerthStack

    PerthStack Member

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    I read that this morning, surely that is a typo. If hoarding is everyone having $25 saved on average, we are boned.
     
  8. systematic

    systematic Well-Known Member

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    a heavy mortgage may be as safe a house of cards
     
  9. renovator

    renovator Well-Known Member

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    I remember reading that only 5% of the population have over 5K in savings .
     
  10. boyd_05

    boyd_05 Member Silver Stacker

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    thats pretty scary...
     
  11. Agauholic

    Agauholic New Member

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    roller coasters are scary
    http://vimeo.com/groups/114/videos/11211712
     
  12. Agauholic

    Agauholic New Member

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    we do not have 22 million wage earners
     
  13. fishball

    fishball New Member Silver Stacker

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    Oh yeah only half our population works so lets assume on average a person 'makes 30k', makes it so much better of... 0.0008333333*%!!!!!!!

    Almost 10% savings right there.

    Anyway here's a point of reference for fun: http://www.businessweek.com/magazine/content/10_25/b4183010451928.htm

    Australians save even less than Americans, we're boned.
     
  14. boneyard

    boneyard Well-Known Member Silver Stacker

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    Tithing is the way to go.

    Claim for yourself 10% of your weekly earnings.

    Use that 10% for your own desires.

    Either stacking or hoarding or holidays.

    Not very hard to do & your earnings are yours to do what you wish.

    Nice feeling to see it grow.
     

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