Australians plan to build up at home this year, according to a new survey
Home renovations are the top dream goal for Australians this year, followed by travel, according to a study by fintech lender Plenti.
About 44% of the nearly 2,000 respondents to Plenti’s Dream Index survey said that they planned to renovate at home this year, according to a report by The Australian.
The non-bank lender conducted the survey in December.
Thirty-three per cent of survey respondents said they intended to consolidate their debts in 2022. Despite the uncertainty of the ongoing COVID-19 pandemic, 28% are saving for international travel and 26% plan to take domestic holidays, The Australian reported.
The survey found that 97.4% had clear financial goals for the new year. About 49% of respondents said they were planning to save more, while 41% planned to splurge on previously postponed purchases.
Of those planning to spend on big-ticket items, 16% identified a car or holiday as major upcoming expenses, The Australian reported.
Fifteen per cent of survey respondents said they would make investing a priority in the new year.
Plenti CEO Daniel Foggo told The Australian that the survey results reflected Australian consumers’ resilience in the face of the pandemic.
“Our track record this year told us a lot about the Australian consumer and their desire for a great quality of life,” Foggo said. “Their demand for loans to help bring a vast array of dreams to life has shown just how resilient consumer desire to get on with life has been throughout 2021, regardless of the various lockdowns around the country.”
Plenti is aiming for a $5 billion loan book by 2025, according to The Australian. The non-bank lender hit the $1 billion mark in November thanks to a boom in auto and personal loans.
