Tom Elliott and Scott Haywood question why some young people are happy to gamble, but not invest

Scott Haywood has questioned why many young Australians are more than happy to spend hundreds betting during Melbourne Cup week, but won’t save to invest.

Tom Elliott says it’s because many are drawn to ‘short-term pleasure.’

‘They’ll happily lose $150 on the Melbourne Cup because they find it interesting, whereas buying shares is boring,’ he said.

Scott Haywood lamented the impatience of Gen Y and some Gen X people.

‘They are so impatient on everything – their career, their next holiday, their next car, a better house,’ he said.

Click PLAY below to hear the full debate on 3AW