Unsurprisingly, the youngest earners have the least money in the bank.
Teenagers under the age of 17 – most of whom are still in full-time study – have $3017 in savings on average.
The median amount is slightly lower at $2729.
As for what they’re planning to spend it on, 44 per cent had their own custom money goals, 13 per cent were saving for education and 12 per cent were after a new gadget.
Just nine per cent were thinking ahead to a future home.
