GOLD Coast residents are keeping a tight hold on their piggy banks, according to a new survey.

In an age characterised by a spend-now-think-later mentality, coastal residents are bucking the trend in favour of sensible saving.

Gold Coast households were presented with a Suncorp Bank survey with options for how to spend a one-off $20,000 payment.

Surprisingly the survey found residents would be careful with the cash.

The results showed 79% would be more likely to save the windfall or put it towards their mortgage than spend it or buy an investment property.

Suncorp Bank Gold Coast regional manager Michael Hall said it appeared residents now preferred traditionally safe options to higher-risk. investments.

“Australians have gone from being credit-crazed consumers to money moderates, who spend a little, save a little, and generally look to keep personal balance sheets in check.

“This is a massive shift from the deep pockets of the previous decade when credit was cheap, house prices were sky-rocketing and interest rates were at record lows,” Mr Hall said.

Wendy Scarlett, of AMP Financial Planning at Tweed Heads, said this was not a time when people were looking to buy investment properties.

“People don't seem sure of their jobs and are careful with money.

“People need to learn how to budget.

"The use of credit cards has made it too easy for people to access cash and we are used to having things straight away instead of waiting for them,” Ms Scarlett said.

“It is important for everybody to have emergency funds in case of the death of a partner or the loss of a job.

“It's important to save and to know what your expenses are.”

Yesterday the Reserve Bank of Australia again signalled interest rates would go up “at some point”, but said it would wait for more news on the outlook for the international and domestic economies.