Sound the generational warfare klaxons! The generations are once again living in very different Australias. Or so it seems.
The relentlessly rising price of rents, mortgages and basics is depressing spending by the youth and the relatively young, while those silver-haired souls untouched by monthly mortgage payments are living a rather less thrifty existence. In Crikey’s latest Paint by Numbers we take a look at how the young and old are living.
Monthly spend by 50-54 age group: $3,575 (+2.6% compared to last year)
Monthly spend by 25-29 age group: $2,099 (-3.5% compared to last year)
Most Australians are spending more on boring essentials while dispensing less on fun discretionary items:
Amount the average person spends on insurance each month: $244,
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