A recent NAB
survey of more than 1,000 respondents shows that Australians are set on achieving greater financial responsibility in the coming year.
Most expressed their top three New Year’s resolutions would be to save more money, resist impulsive purchases and create a realistic budget they would follow.
Over 12% of all responses indicated a desire to pay off their mortgages or other loans and this was highest on the list for married couples and defactos, with more than 35% of single people preferring to save more money.
Paying off mortgages and loans was also a high priority among larger families and those with kids.
“In addition to saving, more 30-49 year olds are resolving to pay off their mortgage and loans and change or improve their work situation, while younger Australians are most keen to invest more,” NAB Chief Economist Alan Oster
“Older generations are focused on reducing impulse spending in 2015.”
Across the states, South Australia, the Northern Territory and Queensland are more keen than the rest to pay off their mortgage or loans, compared to Western Australia where people wish to make less impulsive purchases but also want to live for today.