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In a telling deviation from traditional aspirations, a comprehensive study from moomoo reveals a significant shift in the financial priorities of Australians in their thirties. Despite the enduring appeal of home ownership, a striking 48% of Australians aged 28 to 42 now place leisure spending—particularly on travel—above the goal of saving for a home deposit.

The study, conducted by YouGov and involving over 1,200 participants, paints a vivid picture of a generation that finds travel more attainable and appealing than ever. With a three-week European escapade costing nearly $8,000, including airfare, accommodations, and other expenses, millennials find these experiences within their financial reach, overshadowing the daunting expense of property investment.

As Jessica Amir, moomoo Market Strategist, points out, the rising cost of living and concerns about inflation are palpable among Australian millennials, with 90% expressing anxiety over the economic climate 2024. Yet, despite these challenges, millennials are not shying away from the stock market. On the contrary, they strategically leverage low-value stock investments to garner quick returns, often to fund their travels. An impressive 86% of the surveyed group is actively engaged in stock investments, with some starting with as little as $100 to achieve substantial gains over traditional banking returns.

Amir elaborates, “If you invested just $500 monthly into the S&P500 over the last three years through ETFs like SPDR S&P500 or iShares S&P500, your portfolio would have grown to $21,538 today.”

This savvy approach to finance is echoed by Emma Lovell, a 36-year-old Gold Coast entrepreneur who views travel as a priceless investment. Lovell advocates for a balanced financial approach, managing savings, assets, and debt concurrently to align with personal life goals. She believes in the power of stock market investment, a realm she once thought dominated by an outdated masculine stereotype.

Moreover, Michael Boyd, a 30-year-old corporate banker from Sydney, stresses the importance of financial education, particularly about different types of debt. Boyd, who has diversified his investments across property and equities, has used the stock market to build a deposit for his home while managing the risks associated with a volatile property market and inflation.

moomoo is at the forefront of empowering this financially astute generation with tools and resources tailored to their evolving needs. The platform’s Learning Hub is a testament to its commitment to investor education, guiding users from basic principles to advanced strategies. Additionally, moomoo offers free access to professional-level trading features, including over 100 technical indicators and patented charting tools, enhancing the investment experience.

Jessica Amir adds a compelling call to action for potential investors, “Investing can be as quick as your weekly grocery run, and starting early can significantly amplify your financial outcomes.”

As millennials navigate the complexities of today’s economic landscape, the allure of travel and the strategic use of the stock market are defining their path to financial freedom and fulfilment. This generation is redefining success, intertwining life’s pleasures with innovative financial tactics, proving that the journey is just as rewarding as its destination.