Australians switch financial habits due to rising cost of living: Findex

The majority of Australians (81 per cent) had to change their investment and saving goals in the last 12 months with the primary reason (44 per cent) being the rising cost of living, according to a Findex research.  

The majority of younger Australians (90 per cent of Gen Z and 87 per cent of Millennials) are increasingly de-prioritising investing and saving. 

Property is the most favoured investment for wealth building across all generations and is recognised as such by 33 per cent of Australians; superannuation follows closely at 24 per cent.  

Yet, this preference varies significantly across generations. Only 13 per cent of Gen Z view it as a key investment, contrasted by 40 per cent of Baby Boomers.