![End of Financial Year 2024 Tips](https://arrowroad.com.au/wp-content/uploads/2024/06/Eofy23tips-80x80.png)
End of Financial Year 2024 Tips
Get ready for the end of the financial year with these handy tips and opportunities. Ensure you make the most of your super contributions, manage your tax, and plan ahead for the new financial year.
Get ready for the end of the financial year with these handy tips and opportunities. Ensure you make the most of your super contributions, manage your tax, and plan ahead for the new financial year.
The Australian Bureau of Statistics reports that the national saving ratio has plummeted to a 17-year low of 1.1% of total disposable income. Nearly half of Australians have less than $1,000 in savings, with 20% having no savings at all. This financial instability is causing significant stress, with 76% of respondents feeling strained by their current situation. The stark contrast between the average savings of $36,095 and those struggling underscores the divide. With many Australians living paycheck to paycheck, even minor emergencies like a flat tyre could push them into debt. Experts urge the importance of building a savings buffer and finding ways to reduce expenses and increase income to alleviate financial pressure.
Mark Opie and Arrowroad Financial Planning Pty Ltd are Authorised Representatives of Lifespan Pty Ltd AFSL 229892 © 2024 · All Rights Reserved
For the reCAPTCHA service, refer to Google's policies: Privacy Policy and Terms of Service.