ANZ banks female banking results see new savings account created

Monday January 18, 2010

ANZ Bank is targeting Australian women through its latest savings program called FebuSave after study results showed that many women are unsure of their own financial saving progress. ANZ is encouraging women to set savings goals for themselves through this program.

The 2009 ANZ Women and Money Confidence Report released results showing that 45 per cent of Australian women have saved less than they had hoped in the last 12 months while a significant 51 per cent of women would last less than three months on their current savings if they lost their job and still had to pay their usual bills.

Additionally, one in five women report that they regularly dip into their savings for living expenses, indicating that financial management is a high issue.

Carolyn Bendall, ANZ Head of Customer Marketing stated in a release from the bank that the ';FebuSave' program is intending to raise awareness and encourage Australian women to set their own financial goals and take responsibility for their finances.

According to the study's results, most women are simply not comfortable discussing money and have lower levels of confidence when it comes to managing their long term finances.

"About 45 per cent of women said they have saved less than they hoped in the past 12 months and more than half still don't have a plan in place to achieve their financial goals.

"While we have seen an increase in the number of women talking about money compared to last year, most likely as a result of heightened awareness of the global economic downturn, it's clear this has not necessarily translated into action."

However it is not all negative with 29 per cent of women are reportedly discussing their finances more frequently than twelve months ago.

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