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Young Australians should be educated about good financial habits


Twenty percent of young Australians between the ages of 15 and 24 have experienced financial debt sometime in their lives. Today I will present to you why this age group getting into debt is becoming a major issue in Australia today and therefore, why young Australians should be educated about good financial habits.

The primary reason of young people falling into debt in today’s society is caused by lack of budgeting and thus spending more than they can afford. A survey taken by the Australian Institute of Health and Welfare shows that the average debt of young people in the age group of 15 to 17 years is $3,300, whereas the 18 to 24 years group experience an average debt of about $5,830.

Financial burden faced by young people is mainly contributed by social pressures to keep up-to-date with changing trends in areas such as fashion and technology. Investments such as cars, university education and other......

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Approximate Word Count: 1002
Approximate Pages: 5 (250 words per double-spaced page)

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