Australians secretly give $140 billion to younger family each year
Research estimates older Australians provide $140 billion annually in everyday support to younger family members.
A hidden flow of money between generations shapes how young Australians manage housing, childcare and daily costs. New research from SBS CulturalConnect estimates older Australians provide more than $140 billion worth of everyday support to younger family members each year.
More than 12 million Australians provide this support, which extends far beyond the "Bank of Mum and Dad". A third buy groceries for younger family members, a third pay for restaurant meals, and 30 per cent buy clothes.
Almost one in five pay for travel, 14 per cent buy cars, and similar numbers fund appliances or electronics. The $140 billion estimate excludes cash transfers, debt repayments, homes and home deposits.
It captures everyday purchases older Australians fund for younger relatives. Finder research found 30 per cent of homeowners received family help with their property purchase.
- $140 billion
- Annual support value
- 12 million
- Australians providing support
- 30 percent
- Homeowners with family property help
- SBS CulturalConnect
- Research source
Why it mattersFamily wealth is quietly propping up younger Australians' ability to afford housing and daily life, widening the gap between those with family support and those without.
AustraliaMany young Australians rely on invisible family help to afford homes and meet living costs, making intergenerational wealth a hidden driver of inequality.
✓ Claims checked against the source and corrected before publish. checked 8 d ago
