Future Leaders Index
04 May 2015
UNAFFORDABLE HOUSING IS NO1 CONCERN FOR YOUNG AUSTRALIANS WORRIED ABOUT A LIFETIME OF DEBT
New report from BDO and the Co-op reveals a generation concerned about its financial future
Most 18-29 year old Australians are apprehensive about facing a lifetime of debt and costs, according to the 2015 Future Leaders Index, Spending, Saving and Debt, published by BDO in partnership with the Co-op. The study investigates the thoughts and habits of 5000 of Australia's Future Leaders. It identifies a generation that, faced with a softening Australian economy, declining job prospects and rising house prices, is focused on saving for the future.
The report reveals their top four debt concerns:
- Mortgage debt (79%)
- Having enough money for retirement (79%)
- The cost of raising children (76%)
- Debts arising from education/study (68%).
Now in its second year, the Future Leaders Index also shares eight key insights into the thinking and behavior of 18-29 year olds today:
- Generation Concerned
- The Property Paradox
- Mum and Dad: The Real Bank of Yes
- Prudent, Planned, Financially Sustainable
- Generation Savvy
- The Canny Consumer
- Debt Laden, Debt Light
- Getting Ahead, Falling Behind.
The Future Leaders Index explores young Australians attitudes to debt and property, their work status and the differences between men and women when it comes to spending, saving and debt.