Gen Z faces mounting cost‑of‑living pressure in Australia and Britain

In Australia, younger adults are feeling the strain of rising living costs. A GoCardless study found that 59 % of Gen Z regularly move money between accounts or delay payments, a rate 14 points higher than the national average, and 85 % of those who miss a payment face fees, service disruptions or credit‑score impacts. Milly, a 29‑year‑old who runs the youth mental‑health charity ALLKND, describes the experience as “death by 1,000 cuts”, noting that financial stress affects relationships, career choices and trust in institutions.

In the United Kingdom, a Harris Poll survey of 4,100 adults reported that 62 % of 18‑ to 29‑year‑olds avoid making weekend plans to prevent financial regret, and 68 % say going out is not worth the cost. The research highlights a shift from nightlife to cheaper, health‑focused activities such as workouts and classes, reflecting a broader, intentional approach to money among the generation.