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Lady Lunchalot — who has an awesome foodblog, and who is also participating in the Blogathon right now — submitted a story about the woeful state of Australian personal finance.
One in seven Australians are banking on winning the lottery to deliver them financial security.
A new poll, released to coincide with a campaign to boost Australians’ financial literacy, has also found 8 per cent of people think the best place to put their savings is in a jam jar under the bed.
The Federal Government today will launch its campaign that is aimed at making Australians more aware of the importance of knowing how to manage their money.
Personal finance education is an issue everywhere, not just the U.S.
[Financial plan: win lottery, stash under bed — Don't try this at home.]
.jpg "The Money Blog Network - Improving your bottom line")
July 29th, 2006 at 2:24 pm
Is “oy!” an appropriate comment? Good. That is about all my bloggin’ brain can handle right now.
September 14th, 2006 at 4:24 am
The same is true (if not worse) in New Zealand. Low wages across the board, high-cost of living plus very low financial understanding.
Also, as we don’t have capital gains tax (yet), owning a property or two is often seen as the only means of supplementing a Superannuation payout for retirement.
As a result, most Kiwis have been priced out of the home ownership market when the real estate market was long overdue for a bust.
October 16th, 2007 at 12:27 pm
This is little different to the average US person, too