1 in 5 Aussies won't give up dining out or takeaways to save up

Gen Z was the most likely to prioritise dining out and takeaway.

One in five (21%) Aussies stated they wouldn't sacrifice dining out or ordering takeaways, even for major financial goals like saving up for a home, paying off debt, or building an emergency fund, according to research by Money.com.au.

The report also found that Australians wouldn’t sacrifice their takeaway coffee (13%), nor cut back on alcohol for a financial goal (10%).

Sean Callery, a finance expert at Money.com.au, said that some people see simple pleasures like dining out or coffee to-go as indispensable.

“It’s not that Australians don’t have financial goals. In fact, a quarter of the people we surveyed are saving for a house,” Callery said.

“But giving up life’s little luxuries, like a nice meal at a restaurant or takeaway coffee, can feel like it wouldn’t make much of a difference,” he added.

Across age groups, Gen Zs were the most likely to prioritise dining out and takeaway (23%) over financial goals, whilst Millennials were more hesitant to part with their daily coffee (14%). Boomers and Gen X shared a reluctance to give up alcohol (11%).

Moreover, the report also noted that Aussies spend more on eating out and takeaway due to rising costs. Household spending on cafes, restaurants, and hotels has jumped by 90% since early 2021, according to the ABS Household Spending Indicator.

This growth has significantly decelerated, increasing by only 4.8% in the year to October 2024, compared to 20% in the previous year.

Peter Drennan, a research and data expert from Money.com.au, said that rising costs, rather than increased demand, are behind much of the growth in household spending on dining out.

“With restaurant meal prices rising by 2.8% annually, over half of the 4.8% spending growth in the last year is due to price increases rather than higher consumption,” Drennan said.