Aussie, Aussie Ostrich! We have a head in the sand mentality

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RaboDirect, one of the leading online savings and investment bank, is calling on Australians to take stock of their finances and put a plan in place after a recent survey found that 60% of those uncomfortable with their finances find financial planning daunting and are least likely to try to stay informed about money matters and finances.

This group is also most likely to believe they don’t have control of their financial well-being with 50% claiming that nothing they do will make a difference.

The RaboDirect 2012 National Savings and Debt Barometer highlights that those without a long term financial plan are the most uncomfortable with their finances. It also found that of those with a long term plan, 75% said they were very comfortable with their finances.

In light of these findings, RaboDirect is calling on Australians to pull their heads out of the sand and take control of their finances. 

Speaking out at the start of Financial Planning week, spokesperson Renee Amor said:

“While we all have the opportunity to improve our financial wellbeing, our survey results clearly show that a number of us need more assistance when it comes to handling our finances. The most important step is to confront your finances head on and commit to making a positive change.

“Once you have done this, you can then take some simple steps to start improving your financial outlook. Put together a budget; ensure your money goes into a true savings account with high interest that doesn’t charge fees; set-up a regular savings plan; and speak to a professional if need be about how else you can make the most of your hard earned cash. 

“Financial Planning week is a great reminder for you look at your finances and see if there are ways you can improve your wealth. We realise that for some people dealing with your finances can be daunting and that is where calling on a professional really can help.

“For those who have been apprehensive about using a financial planner to date, this week they have the opportunity to test one out in a safe environment and with no commitment.  

“At RaboDirect we strongly believe in empowering customers through straight-talking information about products and strategies that can help them make better decisions. For that reason, we congratulate the FPA for setting up a consumer website that also provides Australians with a clearer understanding of finances in everyday language.”

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