Younger people now even cutting back on essentials, as older Australians spend up on cruises and restaurants

www.abc.net.au Younger people now even cutting back on essentials, as older Australians spend up on cruises and restaurants

Young people are continuing to bear the brunt of rising interest rates and rent while older Australians are still splashing out, new spending data indicates.

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My parents keep asking my wife and I to fly out to spend time with them.
They don’t get that we are trying to save for a house. Like, I do want to fly out and visit you, but we live in different countries and once all things are considered, we will be paying a huge amount of our savings to go out.
My wife and I just got to a point where we can start to save good money each month. Our parents owned their own home by the time they were our age. It’s like we have to play this game of catchup to have some stability.
- Ask them to pay for the flights. Win win.
- my parents bought their first house in 1980 for roughly $25k. Its hard to find a good house in my area now for ten times that.

21 comments