Financial Planning Association of Australia
Live your today, plan your tomorrow
A financial plan gives you the confidence to get through today and prepare for the future, no matter what life throws at you.
Celebrating the 21st Financial Planning Week in Australia from 4 – 9 October 2021, joining forces with global celebrations of World Financial Planning Day on Wednesday 6 October and World Investor Week from 4 – 9 October.
NEW RESEARCH
What are the money and life issues Australians are facing 18 months since the COVID-19 pandemic started? How has this period of time impacted people’s finances?
The FPA has commissioned research, FPA Money & Life Tracker: Freedom edition, to determine the impact of COVID-19 and the consequent lockdowns on Australians’ work income, financial habits and outlook.
Here are some interesting insights from this year’s research report FPA Money & Life Tracker: Freedom edition:
The top financial goals of Australians over the next 12 months are:
Hit a savings goal – 52.4%
Pay for a holiday – 44.4%
Pay off mortgage – 32.4%
Start investing – 16%
For Australians who see a financial planner
11% increased contact with their financial planner in response to the pandemic
6.5% are embracing digital platforms to receive financial advice
Interestingly, the top three changes Australians made in response to the pandemic include:
Being more frugal about lifestyle choices – 44.7%
Increasing savings – 43.9%
Focused on paying down debts as a priority – 41.3%
This year’s research follows on from FPA’s 2020 Money & Life Tracker: COVID edition, a report which revealed the financial concerns of Australians, their experience of money-related stress and changes in financial behaviour they’d made in response to the financial consequences of the first year of the pandemic.