Half of young Aussies can't afford to leave home

Why are half of young Aussies still living with their parents? And could diesel hit $4 a litre? Here are five money stories you may have missed this week.

1. Half of young Aussies still can't afford to leave home

Half of Australians aged 18 to 29 are still living with their parents, according to the latest HILDA (Household, Income and Labour Dynamics in Australia) survey.

The findings paint a bleak picture of household finances, with wages failing to keep pace with rising prices and housing costs that have surged since 2021.

Across mainland capital cities, 36% of renters and 30% of mortgage holders are now officially in housing stress - spending more than 30% of their disposable income on shelter.

And the financial squeeze doesn't end with rent. The survey of more than 17,000 Australians also found:

• More than one in six Australians struggled to put food on the table in 2024.
• 50% of workers feel overeducated for their current job, trapping them in roles that don't reflect their skills.
• Almost 12% fell victim to cybercrime, with half losing money.

The one silver lining? Australians rated their relationship satisfaction at 4.3 out of 5, suggesting personal relationships remain resilient despite mounting financial pressure.

2. Why diesel could hit $4 a litre

Aussie drivers may feel ripples from Washington DC in their fuel tanks next month.

US President Donald Trump says he is considering a ban on exports of diesel from the US in an attempt to keep domestic fuel prices in check.

"I've said let's not send out the diesel," Trump said while in New York for the UN General Assembly.

"We make a lot of diesel. It could have a little bit of an effect on regular automobile gasoline because when you do that, you know, it's a sort of a flow. It's a balance."

If that happens, some experts warn local diesel prices could surge to around $4 per litre, roughly double what they were 12 months ago.

Australians could be particularly exposed because we consume more diesel per person than any other developed nation.

Relatively long distances between cities, a preference for large cars, and the commercial success of diesel vehicles such as the best-selling Ford Ranger and Toyota HiLux mean Australia is the largest importer of diesel in the world.

3. Why your grocery bill just jumped 7%

Your grocery bill is climbing again, and strawberries are one of the biggest reasons why.

CHOICE found the cost of a basket of everyday essentials jumped 7% in just six months, adding about $145 a year to the cost of a typical weekly shop.

"Australians continue to express concern about the cost of food and groceries," says CHOICE's Erin Barton.

The findings reflect what many shoppers are already feeling at the checkout.

A June 2026 CHOICE survey found 82% of Australians cited grocery costs as a major source of household budget pressure.

Prices in its base basket of eight staple items (apples, bananas, strawberries, potatoes, avocado, milk, basmati rice and beef mince) rose by an average of $2.79, or 7%, since March 2026.

"Since we last surveyed in March, military action in the Middle East has led to spikes in fuel prices, which may have had a knock-on effect on prices," the report says.

The biggest contributor was strawberries, which accounted for around half the increase. Higher prices for beef mince, milk and avocados also pushed the basket higher, while apples and rice became cheaper.

The survey also found that your state matters, but not as much as where you shop.

Aldi, Coles and Woolworths prices were relatively consistent across Australia, with only small differences driven mainly by fresh produce.

IGA showed the biggest variation, with Tasmanian shoppers paying an average of $13.42 more than Victorians for the same basket, largely due to higher prices for fruit, vegetables and chicken.

4. Australia's cheapest new car is now an EV

The cheapest car in Australia is now electric, after BYD slashed the price of its Atto 1 Essential to $19,990 drive-away.

Just 15 years ago, a basic EV cost around three times as much as a comparable petrol car.

Now, intense competition from Chinese manufacturers has turned the market on its head.

Popular alternatives such as the Toyota Yaris and Mazda2 cost more than $30,000 drive-away.

Australians are embracing electric vehicles in record numbers, and EV sales overtook petrol and diesel vehicle sales last month.

BYD has rocketed up the sales charts to second place, only behind Toyota.

Electric Vehicle Council CEO Julie Delvecchio said it marked a "structural shift underway in the Australian car market".

5. Could becoming a 'girl dad' make someone a better boss?

A major Danish study tracking workers, managers and companies over 25 years suggests the answer may be yes.

The research, published in the Review of Economic Studies journal, found that women's earnings rose 4.4% and female employment increased 2.9% after a manager had his first daughter.

The biggest changes came through hiring and promotions, with managers becoming more likely to back qualified women for jobs and senior roles.

The effect appeared almost immediately after the daughter was born and lasted for years. Having a son had no comparable impact.

There was no downside for the business, either.

Sales, productivity, and overall firm performance remained largely unchanged, suggesting managers chose equally qualified women over equally qualified men rather than lowering standards.

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