Cost of Living Pinch Hits Young Australians' Essentials, While Older Generations Spend More on Luxuries
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Younger Australians under 30 cutting back on essentials like food due to rising costs, while over 65s spend more on non-essentials.
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25-29 year olds reducing spending as they move out of home and feel rental and mortgage pressures.
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Older generations spending above inflation on cruises, dining out, catching up on experiences missed in pandemic.
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Cinema visits up as a cheap entertainment option, especially for families and younger demographics.
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Higher income earners able to increase discretionary spending despite cost of living pressures.