A recent survey found 90% of 'Millennials' believe small indulgences can be more important than long-term savings goals.
The most common reasons for indulging were because 'they need to enjoy themselves', 'buying small treats makes them happy', and 'they work hard so deserve rewards for their efforts'.
So, buy that latte everyday and spend your money on avo toast - after all, that's all Millennials are good for to some, despite the eldest ones now pushing 40.
Buying a home or looking to refinance? The table below features home loans with some of the lowest interest rates on the market for owner occupiers.

Smart Booster Home Loan
Product Features
- Discount variable for 1 year <=80% LVR
- No ongoing fees
- Unlimited redraw facility
Monthly repayments: $1,476
Advertised
Rate (p.a.)
1.99%
Comparison
Rate (p.a.)
2.47%
Product Features
- Discount variable for 1 year
- No ongoing fees
- Unlimited redraw facility
Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. If products listed have an LVR <80%, they will be clearly identified in the product name along with the specific LVR. The product and rate must be clearly published on the Product Provider’s web site. Monthly repayments were calculated based on the selected products’ advertised rates, applied to a $400,000 loan with a 30-year loan term.
Three quarters of survey respondents also said they would be 'more likely' to achieve their health and fitness goals if they had the right financial motivations, whatever that may be.
The recent survey of 1,023 Australians aged 25 to 39, commissioned by CommBank, also revealed 95% said they could do a better job of managing their 'self care'.
The definition of 'self care' goes beyond just putting on a face mask at night and having a glass of wine.
Those in Western Australia had the highest monthly spend on 'less essential' items at $591, while South Australians spent the least at $449.
The breakdown on less essential spending between the other states was:
- Victoria, $586
- NSW, $567, and
- Queensland, $509
Tasmania, the ACT, and the Northern Territory didn't make the cut.
Director of Habit Change Institute Dr Gina Cleo said occasional small indulgences can be useful.
“This generation of Australians are known for their hard work ethic and busy daily schedule, so it’s important to form habits that provide a healthy break from the grind," she said.
"Once we begin to set aside time in our day for things such as a short walk or home cooking, we begin to prioritise self-care and allow time to rejuvenate and motivate ourselves to stay on track and achieve our goals," Dr Cleo said.
Enjoy that avocado toast, and try not to think about median house prices tripling (even accounting for inflation) since 1992, and wages stagnating, with real wages even going backwards in 2020.
A price-to-income ratio of housing above 5.1 is rated as 'severely unaffordable' by Demographia - all of the Australian capitals are above this threshold, where upwards of 80% of the population lives.
Why aren't millennials buying diamonds? https://t.co/yMmkzFUFBb pic.twitter.com/a822ggVZrK
— The Economist (@TheEconomist) July 1, 2016
Photo by Wesual Click on Unsplash