Australians hold average $40,000 in savings

New figures from Mozo reveal the average Australian has more than $40,000 in savings accounts, with the nation holding approximately $1.5 trillion in deposits. The household savings ratio has grown to 6.2%, though balances vary significantly by generation, from baby boomers averaging $68,000 to those in their 20s holding between $8,000 and $10,000. Despite cost of living pressures, 46% of Australians report that maintaining savings remains a priority for financial confidence and peace of mind.See omnystudio.com/listener for privacy information.