A 19-year-old University of Melbourne student, Mia Sinosic-Cass, is poised to buy her first home in her early twenties, thanks to the financial principles her single mother instilled from a young age. This approach emphasizes smart saving and investing over direct financial gifts, setting her apart from many peers facing housing challenges in Australia.
Early Foundations of Financial Literacy
Mia credits her mother, Susie, for teaching her the value of money through hard work and determination. Raised by a single parent who juggled multiple jobs and studies, Mia learned that success and resources are available to those who pursue them actively.
“I think I’m financially savvy but I don’t save every dollar,” Mia explains. “I don’t stay away from things that cost money because I do believe in living your life and enjoying it.”
Her mother often reinforced the mindset: “We make it happen.” This abundance-oriented view contrasts with scarcity thinking common in some generations, where phrases like “money doesn’t grow on trees” prevail.
Building Wealth Through Consistent Effort
Mia began tutoring at age 10, earning $10 an hour, and has maintained steady employment through high school and university. She balances her Bachelor of Commerce studies, majoring in Economics, with tutoring and an online business, while also investing in shares.
She emphasizes balance in her approach. “I believe you don’t have to deprive yourself in order to build savings,” Mia states. “The privilege of having an emergency fund, or some extra savings, is that you never feel left out or like you can’t be a part of something because of money.”
No major sacrifices mark her journey—no skipped gadgets, trips, or social events. Instead, she focuses on disciplined habits that allow enjoyment alongside growth.
Empowering Peers and Closing the Gender Gap
Mia actively shares her knowledge with friends, guiding them toward investing. “I really enjoy having conversations about money with my friends because I’ve been able to encourage them to take that step into investing,” she says. “I was there when they made their first $1,000 investment. I’ve told them, ‘This is the time to do it. Time is your biggest asset.'”
As a woman, she highlights the importance of financial independence. “There are too many circumstances where finances are used as power over women,” Mia notes. “There is a massive gap between how women invest and how much, and closing that gap with men is really important to me.”
For beginners, she recommends accessible resources like books, YouTube, and Instagram. “Financial knowledge is so accessible,” she advises. “We need to rewire the way we think about money—a lot of people are raised thinking that money is evil and bad, and that it brings out the worst in people. But really it’s a tool that has a lot of power which can give people control over their independence, and ability to make choices.”
Rising Savings Trends Among Young Australians
New data underscores a shift in financial discipline among younger generations. The Raiz Young Australians Money Reset Report indicates that average opening balances for new users aged 18 to 29 rose from $299 in January 2024 to $508 by November 2025—a nearly 70 percent increase.
Brendan Malone, Managing Director and CEO of Raiz Invest, attributes this to proactive habits amid rising costs. “Despite rising rents, energy and grocery prices, Gen Z and Millennials are restructuring their financial habits and growing their savings buffers, even as the cost of living surged,” he says. “The data shows young people don’t feel they can rely on economic stability, so they’re creating their own. Savings are becoming non-negotiable.”
This trend reflects broader efforts by young Australians to achieve goals like homeownership and financial security through education and consistent saving.
