Consumption Burden of Young Households: Focused on Food, Housing, and Education

Economic recession and rising prices reduce the savings of young households, making it harder to build assets and lowering their standard of living. This situation affects long-term financial planning throughout the life cycle, including preparation for retirement. This study examines essential spending categories of young households—food, housing, and education—to analyze recent expenditure burdens and the factors that influence them. Using data from the 2017–2023 Korea Household Finance and Welfare Survey, the study analyzed 14,386 young households headed by individuals aged 20–39. The main findings are summarized as follows. First, housing tenure type and income significantly affected the food expenditure burden. Second, significant factors influencing the housing expenditure burden included housing tenure type and assets. Third, the education expenditure burden was significantly affected by household size, housing tenure type, and income. Fourth, variables that had a common impact on the burdens of food, housing, and education expenditures included region of residence, education level, household size, housing tenure type, assets, debt, and income. Fifth, when comparing young adults’ expenditure burdens on food, housing, and education across different COVID-19 phases, the results confirmed that external changes such as the pandemic can significantly affect spending burdens. The findings of this study could serve as a basis for policies that reduce expenditure burdens and improve the financial well-being of young households.