There has been a change in young Australians’ financial goals, with a significant increase in the number who want to invest in a business.

An ME Bank consumer survey conducted in December shows that 18 per cent of young adults (18 to 34) with no children are saving to start a business – up from 4 per cent in July last year.

This group is also less focused on building wealth for retirement (down from 23 per cent to 18 per cent), preferring entrepreneurship to superannuation.

Saving to invest in a business, at 18 per cent, ranks just below saving enough to buy a home, at 19 per cent.

ME general manager John Powell said the finding could be a manifestation of the “great resignation”.

“We’ve seen a global trend emerge where people are ditching their desk jobs to start their own businesses,” Powell said.

Among other demographics, the three key goals are paying off a mortgage, building rainy day savings and saving for a holiday, car or other big item.

The focus on saving for a holiday is even more pronounced in Commonwealth Bank’s latest consumer research, which shows that 51 per cent are saving to travel this year.

CBA said the desire to save for travel is consistent across all ages. On average, people plan to save and spend $5072 on travel this year.

Sixty-eight per cent said their preference is to pay for their travel upfront, while 34 per cent said they would prefer to spread their payments over time. Among people under 30, 54 per cent would prefer to spread their payments.

NAB also reported in its latest Consumer Sentiment Survey that a holiday is the major purchase most frequently cited when people are asked about their spending plans for the next 12 months.