Sydney: Sixty per cent of university students are saving an average of $353 every month, Westpac research reveals.
Three quarters (75 per cent) of university students believe they will achieve their financial goals. Only 18 per cent of university students today admit to regularly borrowing money from their parents, compared to 35 per cent of past students. Three in five university students (62 per cent) regularly track their spending. Overseas travel is number one savings priority (39 per cent).
Westpac has released new research which suggests university students today are more in control of their finances than previous generations1, and are becoming better savers.
More than 20,000 university students across Australia are expected to descend on university campuses for Orientation week (O-Week) this week. The Westpac Campus Trends Report, released today, revealed that the majority of students (60 per cent) are saving an average of $353 every month, and three quarters (75 per cent) believe they will reach their future financial goals for the next three years. Their top priorities are saving money (69 per cent), saving for a holiday (49 per cent), buying a car (38 per cent) and buying their first home (25 per cent).
