New CommBank research shows how Australians are adapting their social and financial behaviours in response to sustained budget pressures
A vast majority of Australians (88%) have adopted new personal financial rules over the past year, seeking more flexible approaches to managing spending without abandoning valued social routines and relationships, new consumer research commissioned by Commonwealth Bank has found.
Rather than withdrawing from social life, many Australians are reshaping how they connect with others, the research suggested.
Nearly half (46%) of respondents have shifted towards home-based catch-ups instead of cafés or restaurants, while close to 20% have turned to lower-cost alternatives such as picnics and potluck dinners.
"With budgets under pressure, younger Australians are opting for cheaper ways to stay connected compared to older generations," said Will Mailer (pictured right), chief behavioural scientist at CommBank. "The research shows that Gen Z and Millennials are more likely than the older Baby Boomer and Silent Generations to choose lower-cost ways to stay socially connected.
"The research indicates a shift towards more flexible, lower-pressure socialising – things like picnics instead of brunches or long lunches, breakfasts instead of dinners, and catch-ups at home where everyone brings a dish. People still want shared experiences and connection, but they're becoming more thoughtful about the settings, expectations and costs that come with socialising."
The definition of everyday luxuries is also shifting. Despite tighter budgets, 86% of respondents now regard at least one routine activity as a luxury — up from the prior year — with dining out (48%) and entertainment or social events (46%) heading the list.
At the same time, a number of habits remain firmly entrenched: 73% do not consider their daily coffee a luxury, 71% say the same of beauty and grooming services, and 68% of streaming subscriptions. Gym memberships and fitness classes are viewed as essential rather than optional by 75% of respondents.
Rewards programmes have grown considerably in strategic importance. The research found 89% of Australians are now enrolled in at least one such programme, rising to 95% among the Silent Generation. More than half (55%) report increasing their use of rewards programmes over the past six months to offset cost-of-living pressures — a figure that climbs to 68% among Gen Z. Spending behaviour is also being shaped by rewards availability, with 58% of respondents indicating they are more likely to shop where points or rewards can be earned.
"For many Aussies, rewards are no longer just a bonus — they're something they actively factor into everyday spending decisions and where they choose to shop," Mailer said.
The research also identified a generational divide in how costs are shared during social outings. Older Australians show a stronger preference for paying their own share, with 58% of Baby Boomers and 54% of Gen X favouring that approach.
Younger cohorts are more open to flexible cost-sharing: 67% of Gen Z and 66% of Millennials are less inclined towards individual payment. Millennials are the most likely to favour splitting the bill evenly (22%), compared with 16% of Gen Z, 14% of Gen X, and 14% of Baby Boomers.
"Aussies of all ages are rethinking their relationship with money, from how they socialise to how they share costs, with many finding practical ways to stay connected while keeping costs in check," Mailer concluded.
Want to be regularly updated with mortgage news and features? Get exclusive interviews, breaking news, and industry events in your inbox – subscribe to our FREE daily newsletter. You can also follow us on Facebook, X (formerly Twitter), and LinkedIn.
