Boomers are spending big while the rest of us suffer

The cost of living is an issue affecting Australians right across the board, whether you're young or old, renting or buying, working or unemployed. 

Yet while we all feel the sting of forking out for a GP and rising petrol prices, new data shows Aussies under 40 are being hit the hardest by interest rate rises and rental pressures while Baby Boomers are living it up. According to Commbank iQ’s Cost of Living Insights Report, released today, Aussies in their 20s are cutting back on everything from clothing to groceries, while over 65s are spending more than they were last year on cruises and meals out. 

On today’s extra episode of The Briefing we’re joined by Scott Phillips from LiSTNR’s Motley Fool Money, to discuss what else the data shows us and whether we can expect a reprieve anytime soon.  

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