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