An uber-relaxed attitude, slack lending regulation and low financial literacy have caused Australians to become ‘addicted to debt’. So how and exactly why do Australians fall deep into debt? And how does this affect not only their mental health, but their relationships with banks?

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.

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 majority of Aussie children receive pocket money on a regular basis and a growing number are turning to tech to save it as the country goes cashless. But with parents slow on the digital banking uptake, there's an opportunity for brands to teach better financial literacy to both the young and old.