If you listen to the media, the general message is Gen Y are universally bad with money. They have too much debt and too little savings.

But this certainly isn’t true across the board. Around Australia, there are individuals in this 16- to 30-year-old group who are managing their money brilliantly. We asked a few of them to share their stories of getting out of and staying out of debt.

Nicole, 26, Sydney

What’s your current debt level?

“I currently have two credit cards that are at their limit, and I have two jobs, one paid monthly, one paid fortnightly. So as soon as the month pay comes in I put it straight on the cards and both will be paid off this month, then I live off the fortnightly pay.”

What are your tips for paying down debt?

“I stay out of debt by not ‘over consuming’. If I have the cash to do something I do it, if not most of the time I will not go out that extra day in the week or I cut back on extravagant items.”

Bella, 23, Terrigal

Have you been in debt?

“I have never been in debt. I got my first job at age 15, and saved up, and was able to purchase a car outright when I was 17. I’m also currently studying at university, however, I’m paying my study fees off as I go as I have saved up for that.”

Do you use credit cards?

“I have a credit card with the Commonwealth Bank, but have a student account so that I don’t pay fees. I generally only use my credit card for travel and large purchases, but pay it off immediately so that I don’t have to pay interest.”

Jesse T, 26, Sydney

Do you have any debt?

“Yes I have a student loan, and some credit card debt for an overseas trip I went on.”

Has your debt amount ever worried you?

“No, I pay all loan requirements and pay off my credit card each month for the things I buy with it.”

Ander M, 29, Sydney

Have you ever been concerned by the amount you owe?

“No, I know I bought my apartment at a decent price and could sell to wipe out my debt by selling it.”

How do you try to stay in the black?

“I keep an eye on my credit card statements to see how much I’m spending each month to make sure it doesn’t get out of hand: it’s easy to spend the most when you’re out drinking and in the worst state of mind for making financial decisions!”

Nina, 26, Sydney

Has your debt amount ever worried you?

“Yes, especially the credit card debt, since it just sneaks up on you. I work hard and do not want all my money going to pay the interest on my credit card.”

What have you done to pay down your debt?

“I got rid of my credit card debt by getting a personal loan to pay it off and then just paying off repayments on the personal loan each month.”

Lynda, 25, Melbourne

How do you try to stay out of debt?

“If I can’t pay back the amount owing on my credit card the second after I make the purchase on it, I don’t buy it. Same goes for all the travel I’ve done.”

Do you feel people of your generation manage debt well? What could they do better?

“No. I see far too many friends putting vacations on their credit card, the entire amount: airfares, hotels, spending money – some even take out loans! Insane, especially considering the amount of uni debt they are already in.”