Cost of Living 2025: Top concerns across age groups
A new survey conducted by EMCS has shed light on the biggest concerns regarding the cost of living in 2025, offering valuable insights for policymakers and businesses looking to address financial challenges faced by different demographics.
Overall Concerns
The majority of respondents (49.95%) identified grocery prices as their primary concern, followed by real estate prices (11.28%), utilities and fuel (9.83%), and various other factors. A notable proportion (13.83%) cited "Other" concerns, while 6.72% indicated no cost-of-living worries.
Key Findings by Age Group
18-29 Age Group: Younger individuals are primarily focused on housing affordability, particularly purchasing a home, rather than day-to-day expenses like groceries. This suggests a need for better housing affordability initiatives and financial support for first-time buyers.
30-49 Age Group: This age group, likely responsible for families, feels the pressure of rising grocery costs more than other factors.
50-64 Age Group: Similar to the 30-49 group, individuals in this bracket are most concerned about everyday expenses but are less affected by real estate prices.
65+ Age Group: Older individuals are generally less affected by housing costs and have diverse concerns beyond the main categories or feel financially secure. Financial planning services and healthcare cost management might be more relevant concerns for this group.
The findings highlight distinct cost-of-living concerns across age groups. Younger individuals are most worried about real estate affordability, while middle-aged and older groups prioritize grocery prices. Understanding these differences can help policymakers and businesses tailor solutions to address the most pressing financial challenges for each demographic.
John Farrugia, Managing Partner at EMCS, emphasized the significance of these findings: "This survey underscores the diverse financial pressures facing different age groups. By addressing these concerns through targeted policies and business strategies, we can work towards a more sustainable and equitable economic future."
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