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Australians have set themselves important financial goals in 2015 but may fall short due to poor budgeting, according to new research.
An ME Bank survey of 1,500 households in December found that nine per cent of respondents are trying to save enough to buy an owner-occupier home.
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Of those, 18 per cent expect to make their dream come true during 2015.
The survey also found that 10 per cent are currently saving to buy an investment property, with 41 per cent of those expecting to make a purchase in 2015.
Three in 10 respondents have set themselves a goal of paying off their mortgage – and seven per cent of those think it will happen this year.
According to the survey, 20 per cent are trying to build wealth for retirement. Of those, 17 per cent have forecast doing so in 2015.
The survey also found that 19 per cent have set a goal of getting their debts under control, with 40 per cent of those expecting to succeed this year.
ME Bank said its research revealed that effective savings activity is being undermined by a lack of diligence in budgeting.
"Overall, 62 per cent did not consistently keep a record of monthly expenses, 59 per cent did not habitually set a budget, 41 per cent did not regularly stick to it, 46 per cent did not regularly pay off their credit card balances each month and 19 per cent failed to regularly pay their bills on time," the bank said.
[Related: ME Bank lures borrowers with $1,000 rebate]
