FAITHFUL LOT

CREDIT CARDS:

61 per cent of credit card customers have had the same credit card for five years.

Two in five Australians are still with the bank their parents set them up with as a kid and could be forgoing a better rate on their savings

SAVINGS: SUPERANNUATION:

About 9.4 million Australian every 12 months, to make sure we are always getting the best deal,” Mr Attrill said.

Using comparison sites, workers have simply defaulted to their employer’s preferred superannuation account or stayed with their current provider instead of considering alternatives

61 per cent of Aussies earning less than $70,000 are not confident their home loan product is the best in the market.

HOME LOANS:

online educational tools and Federal Government information sources, such as ASIC’s Moneysmart website, can help empower consumers, according to lender ME’s spokesman, Matthew Read.

“Independent comparison sites can help you shop around,” Mr Read said. “You can often get a better deal just by telling your existing provider what else is available. Unfortunately, loyalty is often exploited rather than rewarded, so be prepared to shift your business, as that’s your best negotiating tool.”

Switching financial products or providers can make significant savings, but many Aussies “set and forget” insurance, credit card and loan products, which can prove costly, said Finder.com.au spokeswoman Kate Browne.