The cost of living crisis continues to grip young Australians while middle-aged and seniors are splashing cash on holidays and shopping, according to Commonwealth Bank customer data.
Young Australians feeling the stress of cost of living crisis as older generations continue to splash cash on shopping and holidays
Those aged 60-69 have seen their spending go up 3.9 per cent as people aged 70-plus have spent 7.7 per cent, as the generational spending gap deepens. Australians aged 18-29 have been left cash strapped forcing them to cut back on petrol and utilities with a decrease of 6-8 per cent, while travel has taken a five per cent cut over the past year.
"In fact, we’ve seen those all the way up to 40 years-old cut back on spending, highlighting the large swathe of the population feeling cost of living pressure."
Gen Z Commonwealth Bank Inflation Cost Of Living Boomers
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