The new 2024 financial trend that has Gen Z Aussies ‘loud budgeting’

Younger Australians are increasingly cutting back on non-essential spending and redirecting that money into high interest savings or offset accounts in response to the rising cost of living. New consumer sentiment data from NAB Economics reinforces emerging TikTok trends which show Gen Zs embracing a ‘cash conscious’ attitude, capitalising on cutbacks they’re making on increasingly expensive non-essentials. Australians under 30 are most commonly cutting back on eating out at restaurants ($124), micro treats like coffees, snacks and lunches out ($73), entertainment ($64), car journeys to save on petrol ($70), food delivery services ($96) and streaming services ($30). NAB Personal Banking executive Paul Riley said younger Australians were embracing the ‘loud budgeting’ trend gaining momentum overseas and social media, saving them on average $450 each month.

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