While many young Australians are struggling financially with the current economic downturn and cost of living crisis, financial experts say younger populations also have expensive lifestyle and spending habits that impact their long-term financial outlook. 

A leading financial advisor says young Australians aged between 27-42 years old may not have enough superannuation savings for retirement age due to certain financial and spending habits.

This makes gaining awareness of these spending habits, creating necessary lifestyle changes and building knowledge about financial management strategies, more important than ever.     

Image: Image by Bich Tran / Pexels

Produced By: Toni Pankaluic

Featured In Story: Alex Jamieson – Financial Advisor and Founder of AJ Financial Planning

First aired on The Wire, Monday 7 August 2023