In-app purchases attached to social media and mobile games are leaving Australian parents out of pocket. Left to foot unexpected bills, Aussie parents are taking a more involved stance in their children's financial upbringing, hoping they'll gain a better understanding of responsible spending.

The Reserve Bank of Australia and the Australian Securities and Investments Commission are targeting young adults as part of a campaign to boost financial literacy. With Gen Z increasingly stressed about their money, finance brands can be proactive about educating and empowering their users.

Why can’t Gen Y budget? And how is comparison culture fuelling bad credit? Canvas8 spoke with Melissa Browne, author of Unf*ck Your Finances, to discuss Australian Gen X and Y’s spending trends, their unhealthy relationship with money and how they can take control of their finances.

Frustrated by their rising personal debt, ‘spending fasters’ are looking to regain control of their finances by cutting all non-essential purchases for up to a year. How do the women who take this challenge cope without life’s little luxuries? And is this method of saving effective in the long-run?