It’s no surprise that Aussies are dipping into their savings to keep up with the cost of living pressures. According to the latest data from the Australian Bureau of Statistics (ABS), the household savings ratio has reached a 15-year low, dropping to 3.7 per cent in the first quarter of 2023 from 4.4 per cent in the fourth quarter of 2022. To put this into perspective, our household savings ratio was a healthy 23.6 per cent at the height of the pandemic in June 2020. Of course,
