Saving money is a sensible basic financial strategy whatever the economic climate, but new survey data suggests that we're no longer being driven to savings accounts by fear of the recession.
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According to the Melbourne Institute's quarterly survey of Australian savings patterns and attitudes, 43% of people said that "saving money for a rainy day" was the main reason for saving. When we looked at those figures last December, 48% of people citied the same reason. The most popular reason for saving remains saving for holidays and travel, though this is an area where we still frequently make planning mistakes.