Baby boomers spending more than younger generations

A new report has revealed that the baby boomer generation is spending more money on discretionary expenses while younger generations have cut back on spending.

Head of innovation and analytics at Commbank IQ and author of Spending Habits of Australians, Wade Tubman, said older generations are spending more while those aged under 54 are spending less.

“If you’re under 54, what we’re finding is, the amount you’re spending isn’t keeping pace with the cost of the goods, so basically, you’re spending less,” Mr Tubman told Neil Mitchell.

Press PLAY to hear how different generations are spending money

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