Hi everyone,
With higher interest rates and core items such as utilities and groceries going up, are you cutting spend elsewhere? If so, where?
If not, are you just saving less each month or are you now tipping into savings? Or are you trying to earn more through extra shifts / side hustles?
I’m actually spending more.
Bloody menulog has been offering $10 off lunches and late night I’ve been ordering more food than ever before. But I’ve always gone where the value is, when the going was good with these food delivery apps and offered nothing for me I ordered nothing. Other than food, all other spending is the same, I buy when I see bargains
I've started to say no, $10 fancy croissant that was $6.50 last year?, no way. Even though I can afford it very easily, I've decided to stop spending on those luxury things if I think its not worth it. I can't remember the last time I've been to Starbucks, I used to like their drinks alot. This is better for my health as well, so to me its a win win situation, win for my wallet, win for my waistline and another win for the wife not nagging me about my waistline. So I guess its a win-win-win lol
I don't want to fuel inflation.
Yes, went from buying $65 cartons of beer down to $55-60
What reoccurring expenses do people spend anyways? Below are what I can think of.
Pre-inflation (mortgage at 2.87% interest)
Now (mortgage at 5.14% interest)
You obviously don't know about all the big 3 delivery services battle for growth tossing $$$$$$$$$$ at people .
Before - 1 week
Now - 10 a week .
2 x takeaways = $120 pw.
Now, 1 takeaway = $50-$60 pw.
I haven’t used menulog or uber eats etc since mid last year. Haven’t used uber in approx the same period.
I've been returning old stuff to costco and bunnings. They take it.
reduced outside food by 50%.
Trying to but it feels like an unwinnable battle at the moment. Reduce a few dollars on takeaway or eating out but than your house insurance is up $300, car insurance up $200.
I love soft drink and past 3 weeks any woolies or coles I go to, the soft drinks which are on sale such as 40%, 30% off are always gone! I noticed as well with sale items, the shelf is usually half gone.
It got me thinking that people obviously are doing it tough, especially me cause I am only shopping when things are on sales, I used to before but I am now more aware. I noticed I am buying more woolies/coles branded items which I am not complaining about such as woolies bread instead of Helga's I used to buy.
I can only imagine people micro-managing their finances just to get enough food to eat or stretching that dollar to afford luxuries they used to buy without question.
In this thread:
commenters = cool dudes who havent changed a thing.
voters = yes, have cut down.
We have definitely cut down and revised in a few areas
- changed phone provider to a cheaper option (valid for 12 months so I'll port out next year)
- taking advantage of the free coffee machine at work instead of fancy cafe coffee
- eating the free meals at work and churning through meal delivery services with discount instead of Uber Eats 4-5 times a week - currently hoping to change jobs with better hours which will enable me to meal prep from a bulk shop.
- re-financed business loan to a slightly better rate
- Researching grocery run and noting what is on special where.
- Cutting back on fancy dining, and buying clothing etc on clearance / searching discount stores.
Commenters really love takeaway, huh. Uber eats 2-3x a week without coupons really adds up, I won't order unless there's a minimum $10 off plus cashback
this is me
What concerns me, is areas most are able to cut back in, are things with a direct link to Aussie jobs. Where inflation is supposedly being driven are not areas the average mortgagee can influence directly. eg if everyone halves the supermarket snacks they buy, demand is reduced on fuel and power and machinery only because the snack worker got sacked and no longer needs it.
Inflation goes up by 8%, but my pay went up by 30%, so no
The average Australian wage is $95000
With inflation at 8% the average Australian is unaffected
Why would they cut spending?
Unless they’re like me in the smaller group who earn far below average and are forgotten by the successive governments - whose politicians and bureaucrats earn many hundreds of thousands of dollars by sitting down and toiling hard in grand chairs and desks……
Yeah, we don't have bad inflation compared to some countries (UK, Laos, Venuzuela, Turkey) and the salaries were so high to begin with that it's just a small annoyance for most people. Plus were ignoring the fact that salaries have gone up, 5% for minimum wage workers and in some sectors, 10-30%.
The average Australian wage is $95000 but median wage is much lower…..probably around $70k
And remember that means half of the workers are earning less than $70k
I think around 76k-80k. Yeah, half are earning below 76k but there's also a wage floor of around 43k.
Is that averaged out? That means some are earning $130k a year while others are on $30k.
Yes, I've managed to decrease my food intake so that each Hello Fresh meal is split 50/50 I have half for dinner and half for lunch the next day, this has got me down to about $6.50 per meal for dinners and lunch, and breakfast is usually muesli or oats. I've stopped buying alcohol, snacks, eating out, and rely on canned tuna and fresh fruit when I need something to snack on.
Is hello fresh food enough for lunch or dinner? I have never tried it? Whats the weight 400grams?
It is after you have a gastric sleeve, maybe not for others though
Got a new job paying more right befor inflation was a problem. I am now the cause of inflation.
Yes. I changed my internet and phone providers. Not much savings, but I get way more for the money.
Gonna look at changing power providers, save maybe $200 a year.
Ordering UberEats way less, training my body to eat less and freezing half the meal to eat another day.
I quit daily smoking but I find it cheaper to have one a day rather than eat more.
Cut back on drinking, and I pre-drink or sneak drinks if going out.
I always search for discount codes when buying things.
And I now try to walk everywhere instead of taking transport.
Medical expenses make saving impossible. But I do things like sock away money or medicines, so when I'm desperate and pulling the house apart, I can thank past me. I do the same with toilet paper, lol
I got another job one that has overnight sleep and I got a day job #winning stop pay rent month ago. few night i am not go overnight sleep cheep hotel or car.