Finding your feet

HELP debt is the Australian student loan that many young people carry. The article notes that being weighed down with HELP debt can reduce disposable income, making it harder to build savings or start investing until budgets are managed.

The piece highlights that many young people live in share houses to cut housing costs. Sharing rent and bills lowers living expenses, which can free up small amounts that could be directed toward savings or the very first investments.

The article emphasises having to use a bank rather than relying on parental support. Basic banking tools to consider are a transaction account for bills, a savings account to build an emergency buffer, and simple budgeting features (or apps tied to your bank) to track income and spending.

While the article doesn’t prescribe a single approach, it makes clear many young people juggle HELP debt and living costs. That typically means balancing debt obligations with small, regular saving or investing — prioritising essentials and repayments while starting very modest investments if cashflow allows.

According to the article’s theme, sensible steps include tracking income and expenses, sharing housing costs where possible, setting aside a modest emergency buffer, and using a bank to automate savings. These measures help stabilise cashflow before committing to larger investments.

The article stresses that many young people can’t bank on Mum and Dad, so building financial independence is important. That means learning to budget, using banking services to manage money, and making gradual progress on debt repayment and small-scale saving or investing.

While the article focuses on the pressures young people face, it implies that starting small is key: reducing costs through share housing, using basic bank savings tools, and channeling even modest surpluses into regular, low-cost saving or investment plans can build a habit without large upfront sums.

The article suggests the reality many young people face—balancing HELP debt and everyday costs—so practical places to seek help include your bank for account and budgeting tools, free financial guidance services or community financial counsellors, and reputable personal finance resources that focus on budgeting and debt management.