Savings question exposes young Aussie - as new data reveals how much YOU should be earning: 'How's she so broke?'

A young Australian woman has shared her struggles with saving money amid the ongoing cost of living crisis.

The 21-year-old told a street interviewer that she works as a receptionist but hasnt been able to save any money - with probably about five dollars in savings.

As long as you work, you can kind of maintain, but its just very expensive at the moment, she said.

Not saving earlier would be my biggest regret.

After watching the video, one viewer asked bluntly, Hows she so broke?.

Another viewer responded and explained that receptionists often earn very little at the beginning of their careers.

The woman did not reveal her exact wage, but the average salary for a receptionist is about $65,000 per year.

Australians between 18 and 24 years of age have an average savings balance of $13,069, according to Westpac data from January.

One Aussie wondered how the woman had such little in savings, but she explained she managed to maintain her lifestyle week to week

Young Australians have an average savings balance of $13,000 but a median of $2,410

The median balance, however, is just $2,410, meaning the average has likely been skewed by a small percentage of large savings holders.

Money.com.au data showed Australian households were struggling to save much money at all.

The household savings ratio indicated savings had fallen from 24.1 per cent in June 2020 to 0.6 per cent in June 2024.

Adding to the pressure, Daily Mail Australia recently reported that earning $100,000 a year - a salary still out of reach for many young workers such as receptionists - is no longer considered good in the face of rising living costs.

The average, full-time salary stood at $102,742 in November, new Australian Bureau of Statistics data revealed in February.

In the latest data, mining engineers had the highest average, full-time salary of $161,808.

Retail workers typically make $77,802, while hospitality workers are the lowest paid on $74,391.

Average pay levels for full-time workers is now above $100,000 in almost half all of industries, with six figures now typical in eight out of 17 sectors.

Mining ($161,808), telecommunications and media ($130,390), electricity, gas and waste ($122,314), professional, scientific and technical services ($120,630), finance and insurance ($119,090), public administration and safety covering government employees ($107,557), education and training ($107,442) and health and social assistance ($100,890) made the six-figure cut.