Study: Aussie Millennials Are Broke Because They’re Buying Coffee & Ubers For Mates

Study: Aussie Millennials Are Broke Because They’re Buying Coffee & Ubers For Mates
SHARE
THIS



A new study has revealed that young Australian Millennials are too busy wasting all their hard-earned on the likes of cafe coffee and Ubers which, in turn, is excluding them from the utter horror of entering the property market and being utterly destroyed by a massive mortgage.

The study, by Pay Pal Australia, that coincides with the company’s new app campaign (see below), found the problem wasn’t that Ys were being lavish on themselves, but were often buying coffees for friends or colleagues without ever having the favour returned.

According to the study, the average Aussie Y spends $400 a year on buying extra coffees for colleagues and friends. And that doesn’t include their own caffeine hit.

On top of buying coffees for friends that never get repaid, Pay Pal also found Millennials were wasting cash on expensive overseas holidays and taking Ubers and taxis when the bus would suffice. Many Ys were also stumping up for the Uber bill for friends, too.

Pay Pal suggested the Ys are wasting too much cash springing for friends, namely because they didn’t want the hassle or friction asking for the money back. It found 84 per cent of Millennials felt “awkward” or “stingy” asking friends to pay them back.

To combat this, PayPal Australia has launched an integrated marketing campaign encouraging Millennials to skip this awkwardness and better manage their finances. Because here’s the thing: the PayPal app makes paying your housemates, workmates and friends back as easy as paying with PayPal.

Developed by Isobar, the campaign was inspired by the insight that Millennials are looking for new ways to pay to avoid the awkwardness of having to chase money or swap bank details in social settings.

Liz Lefort, head of consumer marketing at PayPal Australia, said: “Some 84 per cent of Australians feel awkward or stingy asking their friends to pay them back and our number one excuse for not paying our friends back is that we have ‘no cash’.

“The Millennial audience is an important group for us, they’re mobile savvy and are looking to find easier ways to manage their money. We are excited to put together a campaign that speaks to this audience in the channels they interact with on a daily basis,” Lefort said.

Latest News

Enero Agencies Team Up To Reveal What Makes A Brand Truly Great
  • Marketing

Enero Agencies Team Up To Reveal What Makes A Brand Truly Great

Insight and strategy consultancy The Leading Edge has conducted research into what makes a brand great. In partnership with its sister Enero group agencies Hotwire and Orchard, the report identifies five specific roads that take brands from good to great to greatness. The findings reveal that brands which encompass greatness have five distinct qualities: passionate vision, a sense […]

HP & Planet Ark Help Aussies Face Up To Plastic Pollution With Monster Installation
  • Campaigns

HP & Planet Ark Help Aussies Face Up To Plastic Pollution With Monster Installation

Australia is home to some of the deadliest predators in the world. But nothing has posed a greater threat to our environment and marine life than single-use plastic. A new report by HP and Planet Ark released last week found that Aussies rate marine plastic pollution as their top concern when it comes to environmental […]

HP & Spikes Asia Announce Finalists Of ‘Young Spikes Design Competition’
  • Media

HP & Spikes Asia Announce Finalists Of ‘Young Spikes Design Competition’

Ten teams of young creatives will vie for the prestigious Young Spikes Design Competition Award at Spikes Asia 2018, a three-day festival of creativity held between 26-28 September 2018. The competition garnered 123 submissions – the most of any Young Spikes competition – from executives aged 30 and under across the Asia Pacific and Japan. […]

Director Appointment Strengthens Corporate Affairs Specialist Wilkinson Butler
  • Media

Director Appointment Strengthens Corporate Affairs Specialist Wilkinson Butler

Corporate affairs agency Wilkinson Butler is delighted to welcome Nick Albrow to join its board as a director. Albrow joins chairman Peter Wilkinson and managing director Andrew Butler as the business builds on its reputation as one of the leading crisis and issues firms in Australia. Joining in September 2017 as an account director, Albrow has […]

Mastercard Marketing Chief Sarah Pike Exits
  • Marketing

Mastercard Marketing Chief Sarah Pike Exits

Mastercard marketing boss Sarah Pike has exited. Sadly, not via a half-pike somersault with twist, but the actual exit.

by B&T Magazine

B&T Magazine
Adobe Appoints New ANZ Marketing Director
  • Marketing
  • Technology

Adobe Appoints New ANZ Marketing Director

Adobe announces new ANZ marketing 'big cheese' who's set to go by the title of marketing director and not Queen Gouda.

by B&T Magazine

B&T Magazine
Publicis Media Agencies Named ‘Leaders’ By Independent Research Firm
  • Media

Publicis Media Agencies Named ‘Leaders’ By Independent Research Firm

Publicis Media agencies Zenith and Starcom were named a ‘Leader’ and a ‘Strong Performer’, respectively, in The Forrester Wave: Global Media Agencies, Q3 2018. Both agencies were among the select companies that Forrester invited to participate in this evaluation of the media agency landscape. Zenith received the second-highest score in the ‘Strategy’ and ‘Current Offering’ […]