How are Australians saving money with their home loans?

If you have an investment property in Adelaide, you're probably a go-getter trying to make the most of every opportunity. According to the Australian Securities and Investments Commission (ASIC), one such opportunity is using your rental property to save your personal income.

ASIC's first ever Australian Financial Attitudes and Behaviour Tracker survey took a detailed look at how the nation treats its money. The initial Tracker will be a benchmark for future statistical collections.

"This research explores key actions taken by consumers and investors over a six month period on aspects of money management such as budgeting, saving, short and long-term planning. It also provides a useful picture of how Australian consumers understand key investment concepts," said ASIC Deputy Chairman Peter Kell.

Although the majority (90 per cent) of Australians were reported to track their spending in some for or another, only 38 per cent had a short term plan for their future prosperity. Fewer still monitored their progress or had long term plans.

According to the Tracker, 35 per cent of those surveyed owned investments in addition to their home pr superannuation. An amazing 82 per cent of Aussies reported saving money in the last six months.

Of that 82 per cent, around 1 in 5 made additional or larger payments on their home loans. This smart move means not only storing away income that would otherwise be spent, it also means reducing interest that would be paid in the long term. A further 14 per cent made voluntary payments to their super accounts to top up their savings

When it comes to maximising your income, make sure you have a wealth management strategy in place. This should include using the help of professionals, such as accountants and property managers, to maximise your return on investment.