Generation Y are the best savers, with 29 per cent saving regularly compared with 19 per cent of baby boomers, according to the RaboDirect annual Savings and Debt Barometer.
24 per cent of baby boomers and 11 per cent of Gen Ys spend more than they earn.
Internet savvy Gen Y are generally better at researching savings strategies and looking for a better deal than the boomers, who are less likely to switch banks for higher interest rates but are the best at budgeting.
Source: Herald Sun
