Essentially

Young people are cutting back on “essentials” due to the “cost of living crisis”.

“Those 25- to 29-year-olds reduced their spending on utilities by 7 per cent, supermarkets by 4 per cent, insurance by 3 per cent and cut travel and household goods spending by 10 per cent. Their spending on health insurance also fell by 10 per cent.”

I think the article was saying this is a good thing? The kids are wising up.

“At the other end of the spectrum, older Australians increased their spending in all categories, except charities.”

Yay, and they’re finally waking up too.