1 in 10 young Australians moving back home to save money

According to a Galaxy Research survey commissioned by ING Direct, approximately 48% of Australians planned to make major lifestyle changes in a bid to reduce debt.

The survey found that 1 in 10 young adults are planning to move back into their parent's homes within the next year to try to beat rising rents and save money for a home. A quarter of adults aged 18-24 will look for another roommate to try to reduce rental costs and avoid moving home. Half of the Gen Y respondents said they still lived at home, while 22% were paying a mortgage.