It's never too late to start saving mate. The question is where can you begin saving from. I'm 24. I'm currently employed permanent full-time with the Government. Living at home with my folks paying $100 per week, 1/4 of phone/electricity/water bills and 1/2 internet bill with my brother. Just about to move into my first home which I purchased few months ago... hello mortgage! This is my first ever loan... woot clean slate!!! My entire salary goes into my home loan offset... reduce that bloody interest. I have always learned from my (asian) parents to manage my money using only my savings. That way I can gauge what I can afford. I bought my car 2 years ago with my savings and for modifications with savings too. I have never owned a credit card either until it got offered with my home loan. I always use cash or savings account (debit card). The way I have been taught has allowed for me to understand how difficult it is to earn a living/money and how EASY it is to lose. To be honest since all savings went to lowering my home loan amount I have been feeling the bite to stay away from clubbing, eating out, spending on unnecessary items, alcohol, etc. However since my first 2 home loan repayments I have managed to sit down and figure out where I can save. That is catching the train to work instead of driving (So I save on parking, fuel and maintenance/running costs), taking a packed lunch box instead of buying, learning to shop around at various shops to keep within budget/make savings (it takes more time and pain in the **** but it's the only way to save even a few cents makes a difference). I know that saving will only get worse next year as I plan to return to university. So yes I find it hard to save because I have all these burdens. I only wish money grew on trees. But to survive I must adapt to social economy changes in order to keep myself happy, healthy and as distant from stress as possible. I believe there's always ways around everything... just sometimes we need guidance to get out of the hole we just fell in.