- Gen Z Australians are leading all age groups in saving despite rising living costs.
- Young Australians are actively using strategies like debt consolidation, automated savings, and expense tracking to reduce financial stress and maintain control.
Despite the pressures of rising rents, utility bills, and everyday expenses, Gen Z Australians are leading the way in saving money.
According to the latest NAB Wellbeing data, 89% of young women and 85% of young men aged 18–29 report actively putting money aside.
That sees their commitment higher than any other age group, highlighting a generation that is serious about financial security.
While “cut-back fatigue” is taking its toll on many households, three in four Australians also report making a conscious effort to save.
NAB Retail Executive Belinda Mamet said young adults deserve recognition for their disciplined approach.
“Young Aussies should give themselves credit for how much they’ve already done," she said.
"Cutting back and saving can feel boring ... If you’re exhausted with cut-back fatigue, don’t cut more, just don’t quit what you’re already doing. Small, repeatable actions can make a big difference."
With the start of a new year, financial experts encourage young people to focus on small, manageable changes rather than drastic cutbacks.
Consolidating debt, setting up automated savings, and tracking expenses are becoming common strategies, allowing young Australians to maintain control while navigating an increasingly expensive world.
NAB has not yet announced any changes to its savings rates following the Reserve Bank of Australia’s February cash rate rise.