An Australian Gen Z student has sparked a debate by asking people her age how much they have in their savings.
Aili, who is studying biomedical sciences in Melbourne, explained in a TikTok clip that she wanted to know if she was “on track” financially.
“I’m 19 going on 20 and I have no idea. From what I’ve heard, some of my friends have received over $20,000 and others have literally $40 to their name,” she said.
“All I want to know is what the average is because I want to know if I’m on the right track. And obviously, no one is going to say “I have that many”, but I just want an indication. Does anyone know where we should be?
Aili told Daily Mail Australia that shortly after posting her post she was inundated with responses and advice – some boasting of having up to $200,000 and others revealing they had no money. only a few hundred dollars.
Aili, who is studying biomedical sciences in Melbourne, explained in the TikTok clip that she wanted to know if she was “on track” financially.
“I didn’t think people would give this information out, but I think it’s been really helpful and I really like how open-minded some people are,” the part-time health worker said.
“The best advice I received was not to worry too much… and not to aim for a particular number.
“Instead, someone said save 3-6 months of living expenses and I thought that was a good approach.”
She said nights out on the town made it difficult to save money, with drinks in Melbourne costing between $15 and $20.
“I have friends who work all week so they can go out on Saturday night – all their money goes into it,” she said.
“They may not be making the best choices.”
The average Australian has $35,166 in cash savings in 2024, according to a study by the comparison site.
“Baby boomers saved an average of $55,414, compared to $43,510 for Gen X, $26,632 for Millennials, and $11,939 for Gen Z,” the report said.
According to a study by the comparison site, the average Australian has $35,166 in savings in 2024.
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