And that is, that far too many of us are spending more time planning our next celebratory meal than planning for our financial futures.
 
The Huffington Post recently published the results of a survey of 11,000 Americans who were asked about their levels of savings and debt, and the results made sobering reading.  Nearly half of all Americans have no safety net at all, and of those that do, 41% have less than $500 to fall back on.

According to Renee Amor from RaboDirect, these figures may sound surprising, but when it comes to Australians, the situation isn’t much different. 
 
“The recent RaboDirect National Savings and Debt Barometer (NSDB) revealed that 46% of working Australians have less than one month’s savings, and 20% have no savings at all,” she said
 
What’s more, in the case of both Australians and Americans, planning for their financial futures appeared to take a backseat to other concerns.
 
Of the Americans surveyed, 54% said they had not set up an emergency cash savings strategy and that as a result felt they would be stuck in their current situation for the foreseeable future.
 
Ms Amor said the NSDB had found 66% of Australians admitted they had no long-term financial plan, with 23% saying that they felt that nothing they could do would make a big difference to their financial situation.
 
“What a lot of people don’t realise is that not only are regular savers preparing for unexpected events as well as a more comfortable retirement, they also tend to be happier with their life and in better health that those that don’t save,” she said.
 
“It is always better to use savings rather than debt for emergencies if you possibly can,” Ms Amor explained, “but even if you have no savings now, it is never too late to turn the situation around and start securing your future financial well-being with a regular savings plan.
 
“Be sure to put your savings into a true high interest savings account.  Keeping your excess cash in a transaction account can mean missing out on interest which helps you build your savings more quickly.”
 
The RaboDirect NSDB revealed that Australians are missing out on around $3.5 million in lost interest every year by keeping their money in no- or low-interest accounts.
 
Ms Amor concluded by saying that with the NSDB showing a clear correlation between regular saving and health and happiness, she would encourage all Australians to start a regular savings plan, no matter how much they earned.
 
“You work hard to earn your money, make sure your money is working just as hard in a high interest saving account,” she said.

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