Today's young Australians are in danger of being the first generation in memory to have lower living standards than their parents, according to a new Grattan Institute report.

The research also shows that older Australians spend more and have higher incomes than their counterparts three decades ago but wealth for younger Australians has hardly changed.

Danielle Wood from the Grattan Institute explains.

Read more here: https://www.abc.net.au/news/2019-08-19/young-australians-financially-wor...

For more from ABC News, click here: http://www.abc.net.au/news/

If you're in Australia, you can watch more ABC News content on iview: https://iview.abc.net.au/channel/news

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