Australian children facing a savings crisis

7News Just In · Jul 23, 2026 · 3m

One in five Australian children are growing up with no savings at all, with 90% having no savings whatsoever and 40% having less than $1,000. Financial expert Angus Kidman from Finder discusses the declining trend of children's savings accounts and explains how starting early with even small amounts like $10 per week can build to over $8,500 by age 12 through compound interest. The shift away from traditional school banking programmes and cost of living pressures have contributed to fewer families establishing savings habits for their children.See omnystudio.com/listener for privacy…