Many Australians over 60 have spent more on travel and dining out in the last year, while people in their mid-to-late 20s have pulled back on their spending, new research suggests.
Australians aged 25 to 29 have cut back on their spending by 3.5 per cent in the last 12 months, with sacrifices made on both essential and discretionary expenses, according to the Commonwealth Bank.
"Where most people have had to increase spending on essentials, we are seeing the opposite trend amongst those in their 20s, with essential spending falling at a similar rate as discretionary," head of innovation and analytics Wade Tubman said. "This highlights the difficult choices people in this age bracket are making, with some having to make larger lifestyle changes like foregoing their health insurance altogether.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Budget to place key focus on relief for younger AustraliansTuesday’s federal budget will see key allocations tailored to younger Australians as the government seeks to channel cost of living support to the most burdened taxpayer cohort and secure young voter support in the lead up to next year’s election.
Read more »
For younger Australians, this budget falls woefully shortIn the lead-up to the budget, younger Australians were hopeful for real cost-of-living relief. Instead, we’ve been left with little to celebrate.
Read more »
For younger Australians, this budget falls woefully shortIn the lead-up to the budget, younger Australians were hopeful for real cost-of-living relief. Instead, we’ve been left with little to celebrate.
Read more »
For younger Australians, this budget falls woefully shortIn the lead-up to the budget, younger Australians were hopeful for real cost-of-living relief. Instead, we’ve been left with little to celebrate.
Read more »
The ‘real’ Scott Morrison: former PM says Australians didn’t know who he wasAustralians did not know the “real” Scott Morrison when he occupied the nation’s top political office, the former prime minister says, adding he largely kept his faith private during his four years in power.
Read more »
The ‘real’ Scott Morrison: former PM says Australians didn’t know who he wasAustralians did not know the “real” Scott Morrison when he occupied the nation’s top political office, the former prime minister says, adding he largely kept his faith private during his four years in power.
Read more »