For 19-year-old Mia Sinosic-Cass, purchasing a home initially seemed a distant prospect, yet her mother's astute life lessons have equipped her to ascend the property ladder years before many of her contemporaries. The University of Melbourne undergraduate is currently organising a European excursion while maintaining her savings to fund her lifestyle and support her mother in the long term.
Early Financial Foundations Pay Dividends
Remarkably, she is now on course to accumulate a home deposit by her early twenties—an achievement numerous young Australians perceive as increasingly unattainable. Mia attributes this trajectory to the core values and monetary acumen ingrained in her from childhood by her mother, Susie.
'I consider myself financially savvy, but I don't hoard every penny or avoid expenditures, as I firmly believe in embracing life and its pleasures,' Ms Sinosic-Cass, who tutors alongside her studies, explained. 'However, I was raised by a single mother who tirelessly worked multiple jobs, day and night, to provide my younger brother and me with a wonderful upbringing. She consistently emphasised the value of money, often saying, "We make it happen."'
From Tutoring at Ten to Investment Portfolios
Ms Sinosic-Cass, pursuing a Bachelor of Commerce with an Economics major, noted her mother fostered a mindset of abundance: the conviction that sufficient success and wealth exist for all who pursue it diligently. 'Contrastingly, older generations frequently impart a scarcity mentality to their children, with adages like "Money doesn't grow on trees,"' she observed.
Initiating her tutoring career at age ten, earning $10 hourly, she has maintained employment since, gradually amassing savings through high school tutoring and additional roles, and has recently ventured into share investments. Mia asserts she hasn't forfeited gadgets, treats, or social gatherings to augment her finances.
'I maintain that self-deprivation isn't necessary to build savings,' she stated. 'The advantage of an emergency fund or extra savings is avoiding exclusion from experiences due to financial constraints.'
Empowering Peers Through Financial Dialogue
While her economics studies enhance her monetary comprehension, Ms Sinosic-Cass finds immense value in collaborating with friends on savings strategies. 'I relish discussing finances with peers, as I've motivated them to begin investing,' she shared. 'I witnessed their first $1,000 investments and advised, "This is the moment—time is your greatest asset."'
She highlighted the empowerment this brings, especially for women, addressing disparities in investment behaviours between genders. 'Closing this gap is crucial to me,' she affirmed.
Accessible Financial Education for All
For those hesitant to invest immediately, Mia recommends dedicating time to financial learning. 'Financial knowledge is widely accessible via books, YouTube, or Instagram, with experts offering invaluable free insights,' the second-year student remarked. 'We must recalibrate our perceptions of money; many are taught it's malevolent, but it's a potent tool for independence and choice-making.'
Young Australians Boosting Savings Amid Economic Pressures
This narrative aligns with recent data indicating younger Australians are entering 2026 with enhanced financial preparedness. According to 'The Raiz Young Australians Money Reset Report', average opening balances for new users aged 18 to 29 rose from $299 in January 2024 to $508 by November 2025—a surge of nearly 70% in under two years.
Brendan Malone, Managing Director & CEO of Raiz Invest, interpreted this trend as evidence of younger generations adopting more disciplined financial habits. 'Despite escalating rents, energy, and grocery costs, Gen Z and Millennials are restructuring their financial practices and expanding savings buffers amidst a surging cost of living,' Mr Malone noted. 'The data suggests young people, distrusting economic stability, are forging their own security, making savings indispensable.'
