How Much Do Australians Know About Personal Finance?

HOW MUCH DO AUSTRALIANS KNOW ABOUT PERSONAL FINANCE? The average Australian pays their bills on time, maintains a healthy savings account, and even knows the Reserve Bank's current cash rate. But just how much do Australians know about personal finance? Men vs. Women Despite differences in confidence, investment, and saving habits, overall, men are only 4% more financially savvy than women. Men are: 30% 40% 20% more confident when more likely to memorize their savings more likely to own multiple credit cards Better investors than buying a car women account interest rate Women are: SIG BANK CIG BANK MONEY BA 1.5 1.5 25% times as intimidated times less likely to rack less likely to own a Better savers than men when negotiating car prices up credit card debt to finance large projects credit card at all Generation Gap 18 - 24 year olds are: In most cases, financial awareness grows with age, but Australia's youngsters have a firm grip on their wallets, avoid impulsive spending, and are shaping up to be the most fiscally responsible yet. Most aware of what 3X 875 4 2245 T 5 2245 1012 OT5S 425 2245 012 makes a good MONEY BAGS MONEY BAGS MONEY BAGS credit score less likely to put an expensive purchase on a credit card But scored lowest on 4 other key financial definitions Seniors (65+) are: 80% 35% pay off credit card less worried about balances on time their finances But also least likely to have a savings account Also the most financially knowledgeable Which State is Smartest with Their Money? Queensland: IQ SCORE: 140 Western Australia: South Australia: IQ SCORE: 140 IQ SCORE: 140 72% of people consistently pay off their credit cards on a monthly basis 58% of people are very confident when negotiating 43% of people feel calm and in control of their financial the best possible price when situation buying a car Australian Victoria: New South Wales: Capital Territory: IQ SCORE: 135 IQ SCORE: 139 IQ SCORE: 135 70% of people cover their expenses every month 36% of people believe that 59% of people wouldn't they aren't good with money where to begin with making their money work harder for them Northern Territory: IQ SCORE: 135 Tasmania: IQ SCORE: 134 36% of people believe that they aren't good with money 14% of people don't have a savings account Where do you measure up when it comes to personal finance? Do you make the grade or are you still looking for smarter ways to make your money work for you? Brought to you by GE Money Personal Loans ) GE Money www.gemoney.com.au/loans/personal-loans.html Source: Edentify Survey, April 2013 | 5,000 Australians surveyed