SYDNEY, Australia — A new study by NCR Corp. looks at Australian attitudes during the global financial crisis and has found that more than a third of Australians are using cash more often as a way of controlling spending.
Thirty-six percent of the survey's respondents said they were using ATMs more frequently for smaller denomination withdrawals to manage their day-to-day cash flow.
The results suggest that the days of the "borrow now, pay later" attitude are coming to an end, as Australians seek to get a firm grip on their finances.
The study, conducted by BuzzBack on behalf of NCR, shows that Australians are becoming ever more mindful of their cash, and that financial prudence and sensible spending are navigating them through the current economic climate.
According to the study, nearly half of Aussies (49 percent) are now leaving their bill payments until the last minute, maximizing the time money is in their account.
"Tough times require tough measures, and it appears as if Australians are reacting in a sensible way to the current financial crisis," said Ross Checkley, managing director of NCR for the South Pacific. "As the country slips ever closer toward recession, Australians are choosing the sensible approach to making their money go further and to keep their finances in check."
Nearly a third (28 percent) of Australians have taken out separate savings accounts to try to set aside money for special items of expenditure, and more than half (56 percent) are switching between retailers to get better value when they visit the shops.
When it comes to shopping, four out of 10 Australians are using the Internet more frequently to research products and prices, as well as buy fresh food in smaller quantities. An equal number (40 percent) also are making a name for themselves by stockpiling non-perishable items that are available at knock-down prices, to derive even more value from their shops.
The research, published annually, was conducted between December 2008 and January 2009. Results reflect input from 8,447 respondents in 16 countries. Of the survey's overall respondents, 505 were from Australia. All respondents were at least 18 years of age.
