Australia's household savings ratio has hit its lowest point in 17 years, with just 1.1% of disposable income.
Many Australian households can no longer save.
This may not be surprising.
Cost-of-living pressures, have forced many households to overhaul their budgets and spend more on essentials, such as groceries or to the doctor, leaving less money to spend later in life.
Data from the Australian Bureau of Statistics says the savings ratio is just 1.1 per cent of total spendable income.
This represents the lowest point in 17 years.
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