Some advice about money that actually makes sense.

I was born in 1985 so if you do the math, that puts me very much in “Generation Y”.

Together, we’re a generation widely criticised for being lazy, bad with money and frivolous.

We’re said to be unwilling to work hard, lacking in budgeting skills and reliant on our parents for far too long.

We’re a generation who demands instant gratification with none of the appreciation for the value for money that our grandparents possessed.

Perhaps at times this may have been true of Generation Y, but with the rising cost of living, housing affordability and accumulated education debts, I for one am seeing a shift in thinking among my peers.

Slowly, as we find ourselves in the thick of families and house hunting, the mentality has changed when it comes to how we treat our money.

Nowadays, people are searching for smart ways to manage their money. Often you hear advice that you wish you’d known years ago.

Related: The 8 lessons I’ve learned from surviving financial oblivion.

For me, that was absolutely the case. So much of the advice I’ve heard recently has given me an “ah-ha!” moment of clarity which has highlighted that saving and managing your money doesn’t have to be hard – it’s just about putting simple measures in place to get it working the best way for you.



Just as an FYI, this post is sponsored by SodaStream. But all opinions expressed by the author are 100% authentic and written in their own words.

I asked the Mamamia Women’s Network team for their best tips for looking after money, so read on for some financial inspo:

1. “I make sure to set up an automatic debit from my pay into my savings account. That way I essentially “pay” myself before anything else. I don’t notice the money going out because it’s just done automatically and I get to sit back and watch my savings grow.” – Jacqui

2. “I work hard for my money so I give it the respect it deserves. I track it, plan with it, have fun with it and build a future with it so that one day I don’t have to work so hard anymore.” – Jo

3. “After getting into credit card debt when I was younger I am now super strict with using my credit card. I have a tight limit and I keep it at almost zero.” – Shelly

4. “I never spend more on my credit card than I have money to pay it off every month.” – Avi

5. “You should never have savings when you have debt.” – Tanya

6. “When I think about a large purchase I make sure to give myself a couple of days to think about it. 80 per cent of the time I find that I don’t really want or need the item, it was just an impulse decision.” – Amelia

7. “I leave my credit card at home when I go shopping. It’s only for emergencies or large expenses.” – Bridgette


8. “About a year ago I took the time to sit down and actually consolidate my superannuation. I’d moved around jobs a bit and each time my employer had opened a new account for me. It wasn’t the most exciting thing I had ever done but it was definitely worthwhile.” -Jo

9. “Do a search for missing super or old bank accounts. I know so many people who’ve just searched using online tools and located money they never knew about.” -Jess

10. “I’d say that if you’re wondering what to do with your money you should seek some professional advice about investment or shares or savings. It’s a very confusing world when you don’t understand the ins and outs of it all, but getting someone to sit down and assess your individual position can be really worthwhile.” -Jacqui

11. “Overestimate your budget. Then when you have leftovers at the end of the pay period you can transfer it into your savings.” – Lisa

Related: 10 ways to save on your electricity bill

What money advice would you give to your younger selves?


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