Original article by Roy Morgan Research
Market Research Update – Page: Online : 26-Oct-16
The latest data from Roy Morgan’s Young Australians Survey shows that 76 per cent of Australian children aged 6-13 had money saved in the year to June 2016, compared with 75 per cent in 2008. The average amount saved has risen from $220 to $251 in the last eight years. The average boy’s savings have increased by 15 per cent from $228 to $263, compared with growth of 12 per cent from $211 to $234 for girls. Meanwhile, 84 per cent of kids from the well-off AB socio-economic quintile have savings, with an average balance of $304, and 16 per cent of them have saved more than $1,000. On the other hand, only 67 per cent of kids from the less affluent FG quintile have money saved (at a much lower average amount of $176). It is worth noting, however, that 11 per cent of these children also have a balance of $1,000-plus.
ROY MORGAN RESEARCH LIMITED