Why should Australians save when then the banks do not encourage saving? Save, if you must, but store it in your mattress. Don't feed the greedy banks!

Comment 1 of 12

The Federal Govt must stop overally generous welfare payments, grants, concessions and etc and place our (future) surpluses into the Future Fund and save for the next bust and other finacial downturns. All financial "handouts" must be realistic. This is a must for securing our future. To have large cash reserve. Private households are a separate issue and of course we must all save as much as we reasonably can

Comment 2 of 12

Shows how far out of the real world Mr Stevens is. Most of us are struggling to pay our mortgages, let alone set aside funds for saving. It is a two tier economy and 16,000,000 of us are on the wrong tier!

Comment 3 of 12

Mr Stevens is so far out of the real World, that he does not see that the majority of people are struggling to pay their mortgages let alone be able to put savings away. The banks do nothing to encourage savings, so why should we even bother.

Comment 4 of 12

Mr Stevens is obviously talking about those overpayed executives and politicians that can afford to save. With todays house prices people are struggling to get a roof over their heads, pay the mortgage and bills. What we need is a Undercover Boss type show which forces these overpaid executives to live a month in the life of an average family so that they can gain a better perspective of the real world.

Comment 5 of 12

most australians are just incapaple of saving. they start off thinking they can't, so they dont even try, so they then whinge about life being unfair. give the averge australian $200 to save, and most will find a reason for the need to spend it. stop smoking and reduce drinking and you could save hundreds a year. how many still have the $900 the government gave away a couple of years ago? richy, keeping savings under the matress is better than saving in the bank? u didnt learn about money growing up, did you? getting even 1% interest return on saving is still better than 0% under the bed. just cos you dont like the banks making a profit, you dont want to make an extra income from your hard earned money? if the CPI is at 3%, what you could buy at $100 now will cost $103 in 1 years time. that's why the poor are getting poorer.

Comment 6 of 12

You can't take it with you. Spend it.

Comment 7 of 12

On my income I have nothing left to save or spend. RBA executives should get their heads out of the clouds and see what they are doing to people in the real world.

Comment 8 of 12

Save don't spend? With $40,000 going into the pockets of pollies both federal and local pa that's the funniest thing I've heard all year!

Comment 9 of 12

People need to be given incentive to save you idiot. You get about 6% interest on savings, inflation is about 4% plus, then if there is anything left that is gone on tax. The low interest rate is set by the rba, the inflation is caused by irresponsible govt spending and the tax is govt policy. on top of this the rba and govt have conspired to create the most overpriced housing in the world. this will ensure the average home owner is a slave to the banks for the next 30 years and will never be able to save a single cent. besides this govt has borrowed billions and failed to save a cent despite the massive windfall from gst and stamp duty.

Comment 10 of 12

The savings should be for when circumstances change. Anyone can save at least 5 to 10% of their income if they put their mind to it. My mother who is a single pensioner saves thousands every year. If she can do it others can.

Comment 11 of 12

Ray: wow $3! That would pay half of one month's account keeping fees.

Comment 12 of 12