Savings all gone? You're not alone and it's intentional, says economist

If you've been struggling to put any money into savings, you're not alone. The Australian household savings ratio has hit a 17 year low, with just 1.1% of disposable income being saved. Whilst the high cost of living is partly to blame, one economist says it's mostly the result of a deliberate policy decision by the Reserve Bank of Australia.

Many Australians are struggling to save money. Source: iStockphoto / Nuttawan Jayawan/Getty Images