Why financial freedom is the new New Year resolution | the advisory скачать в хорошем качестве

Why financial freedom is the new New Year resolution | the advisory

Key points: 62% of Australians aged 31 to 45 and 58% of 18 to 30-year-olds prioritise financial goals Younger adults face unique financial pressures and information overload from social media Mills recommends budgeting, debt management, and practical financial awareness Engagement with superannuation can build investment confidence for younger Australians Jenneke Mills from MLC Australia highlights a significant shift in financial priorities among Australians as 2026 approaches. According to Mills, MLC research shows 55% of Australians list financial goals as a top priority, with a notable focus seen in the younger demographic. The survey reveals that 62% of those aged 31 to 45, and 58% of 18 to 30-year-olds, rate finance as their number one concern, compared to 46% of the 61 to 79 cohort. Mills attributes this to different life stages, with younger adults balancing active spending and a growing interest in financial wellbeing. Mills points out that younger Australians face a unique set of pressures, including increased access to financial information from various sources, especially social media. This abundance of information can sometimes be overwhelming, leading to indecision. She cautions against relying solely on platforms like TikTok for financial advice and emphasises the importance of building confidence through awareness and conscious decision-making. Mills advocates for creating a practical budget, understanding spending habits, and actively managing debt, such as through restructuring or consulting lenders. When it comes to superannuation, Mills suggests younger Australians engage early, using it as an opportunity to learn about investments and monitor fees and account consolidation. She encourages a long-term perspective, noting that proactive management, even in small steps, can make a significant difference in future financial health.