How much your spending on ‘nice-to-haves’ is really costing you
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Calculate the amount you’re frittering away – and how it adds up over time.
By Esther Shaw
Millennials and Gen Z have long complained they’ve been locked out of the property market by soaring prices – and now by higher mortgage costs as the low-interest rate era comes to an end.
There’s no denying younger people face added economic challenges. With the cost of living front of mind, many are back under their parents’ roof, while those living away from home are faced with extortionate rent.
And yet young people are also big spenders with some evidence that a nihilistic approach has evolved in response to being cut off from milestones like home ownership that their parents’ generation found easier.
Granted, this may not be a full representation of people in this age group, but it appears that some people are parting with a pretty hefty sum of money on ‘discretionary’ spending compared to essentials like rent, utility bills and transport.
Perhaps being told they will never make it onto...
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