More young Australians are splitting bills when dining out with friends or family to save money amid the cost-of-living crunch, according to new NAB research.
Over half of the surveyed adults (54%) said they were more likely to skip shouting their mates these days, with this figure rising to 72% among 18-29-year-olds.
The embrace of going dutch hasn't been as clear among Baby Boomers, with just 32% of over 65s saying the rising cost-of-living made them more likely to split a bill.
The latest NAB Economics data also showed:
- The push to split bills was least common among Australians in the lowest income group (39%) and stepped up in each income group, to 63% for Australians in the highest income group.
- Women more likely to split the bill than men.
- Nearly 4 in 10 (37%) preferred one person pick up the bill and they transfer money, while around 3 in 10 (28%) used their credit or debit cards.
- Bank transfer or PayID was the leading choice to split a bill, preferred by 37% of people.
NAB Personal Everyday Banking Executive Kylie Young said the move toward splitting bills was reflective of the younger generation adapting to the rising cost of living.
"Young Australians are embracing loud budgeting and getting more comfortable with talking about their financials. It isn't surprising that extends to splitting the bill, as they confidently step away from the social pressure of 'shouting a round'," Ms Young said.
"There are inevitably winners and losers when it comes to shouting rounds or picking up the bill after a meal as it doesn't always come back around.
"While people may have shouted their mates in the past, they're feeling the pinch now and are prioritising their own budgets so they can keep dining out and supporting local businesses."
More than 140 million transactions are made by PayID each month in Australia, from 21 million accounts. *
