RESIDENTIAL PROPERTY
Young Australians are losing hope in home ownership and a comfortable retirement, as the cost of living crisis drains their savings and prospects.
According to consumer fintech company Douugh Ltd, while buying a house is still the biggest financial goal for one in...
On top of this, at 54% more than half of young Australians are worried they won’t be able to retire comfortably...
The cost of living crisis is the number one challenge facing young Australian’s long-term financial goals and stability, at 67%...
This is followed by a lack of savings, unexpected expenses and living paycheck to paycheck, which each pulled in at 37%...
“The ‘Australian dream’ of home ownership is almost at the point it feels unachievable for a lot of Aussies,” said Andy Taylor...
Taylor noted young Australians are currently dealing with both short-term cost of living challenges and their long-time financial future...
While 86% of young Australians agree that building long-term wealth is important, 91% are currently worried about their financial situation...
While 82% are utilising savings as a wealth-building strategy, 75% have never sought professional help or financial advice, with...
This lack of knowledge is acting as a barrier to investing, with 62% citing not knowing enough about investing, 45% not ...
This comes as consumer confidence was this month reported to be at its lowest rate since the early days of the COVID-19 pandemic...
While in the midst of the cost of living crisis Australians renting their homes are feeling the most pressure, with...