Known as the generation of entitlement, Gen Ys have now proved critics wrong by claiming the title of Australia's smartest savers. CommBank has found Gen Ys, aged 18 to 30, have a savings IQ 4.2 points greater than the national average. In fact, those from Gen Y who participated in  a financial education program scored the highest score of 130.9, while people aged 50 to 59 who did not learn to manage their money scored the lowest, 117.4. Known as the generation of entitlement, Gen Ys have proved critics wrong by claiming the title of Australia's Smartest Savers from their parents and grandparents.
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Gen Ys are Australia's Smartest Savers, according to a CommBank questionnaire
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People aged 18 to 30 have a Savings IQ 4.2 points greater than the national average
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If people participated in money management education they were found to better save
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Australians on a whole are great at money management with 86 per cent reporting to be so
I’m especially proud to see that our youngest adult generation, those that had the highest participation rates for early financial education, have the highest @placeholder of all the generations,'  Ms Murrie said.