๐๐ผ๐ ๐ฑ๐ผ ๐๐ผ๐๐ฟ ๐ฆ๐ฎ๐๐ถ๐ป๐ด๐ ๐๐ผ๐บ๐ฝ๐ฎ๐ฟ๐ฒ ๐๐ผ ๐๐ต๐ฒ ๐๐๐ฒ๐ฟ๐ฎ๐ด๐ฒ?
An inquiry into retail bank deposits by the Australian Competition & Consumer Commission has found how much money people have in their bank accounts.
A national survey of bank customers found that exactly half of respondents had up to $999 in their main transaction account (i.e. the transaction account that contained the most money).
At the same time, about half (53%) of respondents had up to $9999 in their main savings account.
Of the limited number of people with term deposits, about half (55%) had up to $49,999 in their main term deposit account.
Money experts often recommend that people accumulate savings equivalent to at least three to six months of expenses in a 'rainy day fund'.
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