Younger Australians are being forced to change their behaviour to deal with the rising cost of living, a report based on the financial data of 7 million people shows.
abc.net.au/news/cba-report-under-35s-cutting-back-older-spending-inflation/102352156There Is a "sharp divide" in how Australians are spending their money as cost-of-living pressures hit households unevenly, a report based on the financial data of 7 million Australians shows.
CommBank iQ has developed its "cost-of-living pressure score" based on how people change their total spending and discretionary spending. Those over 75 years old and between 45 and 49 are under moderate pressure, in line with the national average. The spending data in the report is based on the actual money leaving people's accounts, so most are naturally spending more than a year ago, due to the steep price rises we have seen.
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