Australia’s financial outlook

New research from McCrindle provides insights on Australians financial outlook.

• More than one in three Gen Z and Gen Y are actively investing in stocks, crypto, and managed funds – the highest of the
generations.
• 53% of Gen Z worry about their financial future
• Half of Gen Z (52%) stick to a monthly budget
• 2 in 5 Gen Z (39%) strongly agree they will be in a better financial position in ten years time, despite current cost-of-living
pressures.

From bricks and mortar to digital portfolios

The younger generations are no longer just a future home buyer in waiting. They are sophisticated, active, diversified investors, who
are building wealth through other means. 35% of Gen Z and 34% of Gen Y are actively investing in various asset classes, compared to
just 19% of Baby Boomers.

The optimism paradox

Half of Gen Z (53%) are worried about their financial future (strongly/somewhat agree). This anxiety is real, driven by the immediate
cost of living and inflation pressures. Despite this, Gen Z are the most optimistic generation. Two in five Gen Z (39%) strongly agree
they will be in a better financial position in ten years’ time than they are today.

Rebranding budgeting

Contrary to the stereotype of younger generations engaging in reckless doom spending, Gen Z are the most disciplined budgeters.
Half of Gen Z (52%) strongly/somewhat agree they have a monthly budget they stick to, which is the highest of any generation (cf.
48% Gen Y, 44% Gen X, 45% Baby Boomers).

Despite the complexity of the modern financial landscape with crypto, global markets, ETFs, non-traditional retirement funds and
prediction markets, only 32% of Australians strongly/somewhat agree they seek professional advice before making major financial
decisions. This reflects there may be a large proportion that may be making major financial choices based on self-education, social
media, or family advice.