Comparison is the thief of joy… but when it comes to saving, comparing yourself to your age group can actually be a useful way to figure out where you’re at with your money.

If you’re not so keen on asking your mates what’s in their bank account… don’t worry.

We’ve tracked down the latest data so you can see how much the average Aussie has saved and by when.

How much should you have in savings?

The amount you have in your savings account will look different depending on the stage of your life and what you’re prioritising.

You’ve probably seen in your own life how one friend might have barely any savings… but has lived in 5 different countries. Or another has a very healthy amount in savings… but hasn’t been overseas in their life. Everyone is different because personal finance is (by nature) personal.

So how much should you aim to have saved? The most commonly cited rule of thumb is an emergency fund of at least 3 months of living expenses.

For someone whose living expenses are $2,500 a month, 3 months comes out at $7,500. The idea is that it covers an unexpected medical event, a job loss, or helping out a loved one (without going into debt).

How do people get there? One habit that comes up again and again is automating your savings, so a set amount moves across the day you get paid. And using the 50/30/20 rule (one of the more widely used budgeting frameworks) puts 20% of your take home pay towards savings.

How much money do Aussies actually have saved?

Here’s the average cash savings Australians had as of July 2026, according to Finder’s Consumer Sentiment Tracker.

Gen Z

These are your foundation years when it comes to building wealth. You’re figuring out your career, where you want to live, and probably experimenting with different life paths.

Average cash savings for 13-28 year olds: $21,581*

*Age brackets as defined by Finder's Consumer Sentiment Tracker (Qualtrics, nationally representative), July 2026.

Millennials

You might be accumulating a bit more. Maybe you’ve figured out what you want to do and your income stream is a bit steadier.

Average cash savings for 29-44 year olds: $45,732

Gen X

Retirement planning is starting to get a bit more real and you’ve got decades under your belt of building financial habits.

Average cash savings for 45-59 year olds: $53,130

Baby boomers

This is the stage where the financial groundwork you laid in your 20s starts to come to fruition … and super shifts from "saving for later" to "actually using it."

Average cash savings for 60-79 year olds: $54,390

(Heads up: this doesn’t include super balances, which are usually much higher).

The takeaway?

No matter how your savings balance or super contributions stack up compared to the average in your age group, it's never too late to start! The time is going to pass anyway 🤷

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