It’s the Aussie way — coping with tough times by deploying humour. But a rising TikTok trend adopted by many young adults is revealing the sad reality many are facing during the cost of living crisis.
Videos that highlight the list of things that young Aussies are ‘giving up’ due to financial strain are beginning to pop up on the platform, and their tongue-in-cheek delivery is doing little to disguise the serious nature of the content.
Among the forfeited items are ‘fresh produce’ and ‘prescribed medications’, with some sharing they are cutting down on the amount of food they are eating as they simply can’t afford to eat three meals each day.
Young Aussies are ‘losing hope’ during cost of living crisis
The prevalence of the social media trend is an indication of how hard young Aussies are being hit by the rising cost of everyday items.
“Things like food and fresh products are basic needs and indicting they cannot afford them is really concerning,” Sara Quach Thaichon, senior lecturer from the Department of Marketing at Griffith University, said. “The current economic situation is having a negative impact on their life .. They are unhappy and losing hope”.
Young people most affected by rising costs
A report released by financial comparison website Finder said that 89 per cent of Millennials and 90 per cent Gen Z Aussies have had to reduce their spending due to the rising cost of living, with these demographics more heavily impacted.
However, there could also be positives associated with the TikTok trend with young adults creating communities which show others going through the same hardships and finding solace in this.
“It could potentially help people to know they are not alone in this matter and raise awareness of the need for food donations or how to help people struggling,” Sarah said, suggesting policymakers and larger corporations need to do more to minimise the impact the crisis is having on younger generations.
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