According to our consumer survey the three worst financial habits among Australians are not sticking to a budget (41%), overspending on dining out or takeout despite the cost of living (32%), and procrastinating on paying bills (24%).
Not sticking to a budget
Boomers (33%) are the most disciplined when it comes to budgeting, while Millennials and Gen Z (both 44%) are the least likely to stick to a budget or track their spending.
'Cost-of-living denial' (COLD) dining
Young Australians, particularly Gen Z (40%), are the most likely to fork out too much on restaurant meals and takeaway, followed by Millennials (37%). In contrast, older Australians are the least likely to splurge on meals out and food delivery, with Gen X at 26% and Boomers at 21%.
Procrastinating on paying bills
Gen Z (33%) is the generation most likely to procrastinate on paying bills, while Boomers (17%) are the most punctual when it comes to settling their dues.