I've observed that many of my Aussie colleagues seem to be terrible at saving money. I wonder why that is the case? Is it a cultural thing of they value other things? For example, I was speaking to a colleague in their 50s who is in a senior role. The colleague would be earning over $120,000 before tax per year. The colleague and his family are hoping to save a little under $20,000 in a few years time to allow them to do something nice for their family. The colleague and family has decided that they will put away x amount of money from their pay packet each fortnight. The colleague was thinking about opening a different savings account. I was surprised to hear this as I would have thought they would be able to pull out that money from their savings at any point. This observation doesn't seem to be just mine. For example, this article talks about "The number of Australians who feel that they are in full control of their finances is only around one in five, according to UBank." Why 86% of Australians don't know their monthly expenses I come from a migrant family and my parents instilled in me the importance of saving money at a young age. So my default position is to not spend money if possible. Even though I'm much younger, I'm able to take out money from my offset account if I go on overseas holidays. I may be ignorant as my parents also financially supported me much more than many others. For example, they paid for most of university education, allowed me to share their car and allowed me to stay in the family house in my 20s (I pay board). I've noticed that many children who come from middle class migrant families are focused on buying their PPOR or IP in their mid to late 20s. However, it seems less common for my Aussie colleagues to have that same focus - some seem to be more interested in paying for personal training sessions, nice holidays, nice meals etc. I'm generalising as I also have young Aussie colleagues who bought a house in their early 20s. I know there are many Aussies who are great savers (I'm sure there are many are on this forum). I'm thinking it also depends on the type of colleagues - perhaps those working in the corporate world may be different. Thoughts anyone? I'm genuinely interested.