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ISCOVER
Staff Reporter
Despite five days off work, the majority of Australians will be saving, not spending, this Easter.
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A national survey by Mortgage Choice found 32 per cent of first home buyers who bought in the last two years will spend less during the Easter holiday period compared to last year.
In addition, 54 per cent are expected to spend the same amount, while just 14 per cent will spend more.
Mortgage Choice spokesperson Kristy Sheppard said the spate of natural disasters earlier this year had encouraged Australians to start their ‘rainy day’ savings plan.
“Our 2011 Recent First Homeowner Survey found almost one third will spend less this Easter and only one in seven will spend more, despite five months of steady interest rates. Borrowers are determined to either put money back in their hip pockets or make sure their outgoing cash flow doesn’t increase,” Ms Sheppard said.
