This week is MoneySmart Week - an independent, not-for-profit national initiative promoting the importance of financial literacy (understanding money management).

In line with MoneySmart Week, key supporter Visa has released their 'Generation Z Research Report', which reveals how the tech savvy net generation manages their money in the digital age.

Key Findings:
Research demonstrated the huge reliance of Gen Z on technology – and how this translates to their money habits.

One third of those with a smartphone rely on apps to manage their finances (and 92 per-cent of those 12-20 own a mobile!).

Despite the aid of technology, Gen Zers still spend far more than they save - one third spend most of their weekly income.

Contrastingly, Gen Z generally have big financial/life goals, including:
They plan to leave home before they turn 25
Buy a house before they turn 30
Get married between 25-29