Two in five West Australians who have made a financial resolution for 2007 admit they've already failed it, or say they're struggling and are likely to give up by winter. The Newspoll survey¹ reveals many people aren't confident of achieving their financial aspirations either because they don't have a good enough understanding of money matters or they think it's 'just too difficult.²'
The survey, commissioned by BankWest, shows financial aspirations for the New Year are high; with almost half the state population having set themselves a financial goal.
Financial goals include:
- Start saving or increase current savings - 35%
- Reduce debts - 29%
- Develop a better understanding of managing money - 21%
- Stop spending beyond means - 21%
Says BankWest's Head of Marketing and Products David Rose, "It's great to see West Australians have kicked off 2007 with positive intentions for their finances. What's worrying is that by the time we reach the year's half way point, many of these goals will have come unstuck. We want to stop this from happening and to help people stay on track.
"To help people achieve their goals, we've teamed up with Gay Curtis, one of Australia's most popular money coaches and author of Smart Couples' Guide to Money, to offer free financial education seminars in Perth from 19-20 February. The seminars are designed to increase people's understanding of money matters and inspire and motivate them to succeed in their financial aspirations. Full details are available on getsaving.com.au or bankwest.com.au"
For those unable to attend the seminars, BankWest is offering free in-branch financial health checks to help people work out if they are getting the best deal on products like credit cards, home loans and savings accounts.
Or they can log onto community website getsaving.com.au which has been expanded to include a "New Year's" section filled with practical tips and tools to inspire people to keep their financial goals not just for 2007, but for life.
Seminar Details:
Dates: Monday 19 February and Tuesday 20 February 2007
Times: 12:30 and 5:30pm
Location: BankWest Tower, Level 46, 108 St George's Terrace, Perth
To register: Visit getsaving.com.au or bankwest.com.au
ENDS
Notes to editors:
¹ The Newspoll survey was commissioned by BankWest and interviewed a representative sample of 300 West Australians aged 18+. Survey results reflect the opinions of approximately 1.6 million West Australians.
² About 1 in 4 West Australians who have made a financial resolution for 2007 say their resolution will fail because it's just too hard to stick to. About 1 in 5 say it's because they don't have a good enough understanding of money matters.
For more information or an interview with BankWest or Gay Curtis, contact:
Jane Gregory Scott Gillespie
Pulse Communications Pulse Communications
jane@pulsecom.com.au scott@pulsecom.com.au
02 8281 3859 / 0416 137 335 02 8281 3839 / 0417 233 670
About BankWest
BankWest is a wholly owned subsidiary of HBOS plc, one of the world's largest financial services groups, with assets of about AUD$800 billion (£380 billion). BankWest is a full service bank which originated in Western Australia in 1895 and services more than 860,000 customers. Nationally, BankWest promotes a range of products using cost-effective direct and third party distribution channels, including 24-hour telephone and internet services and mortgage brokers. In WA, BankWest is a market leader with about one quarter of all bank advances and deposits and an extensive network of branches. Standard & Poors short-term credit rating for BankWest is "A-1+" and "AA-" for the long term, providing customers with investment grade security.
