What’s on your ‘why we’re not shopping’ list?

Aussies on brink of financial disaster. 2 actions when households refuse to adjust spending expectations.

Average Aussies are teetering on the brink of financial disaster as living costs rise. Households are not saving money and refuse to adjust lifestyle expectations a Comparethemarket.com.au survey has found.

Money Saving Expert Rachel Smith, Author of Underspent said “Societal pressures means most of us are accidental spenders and impulse shoppers with high expectations about what we think we’re entitled to. 70% of households are on extremely thin ice. So, we all need to save some money and people like me need to make saving money the ‘new’ normal”.

Rachel suggests 2 actions every household should take.

  1. Make a ‘Why we’re not shopping’ list. Things on your list could be making mortgage overpayments or building an emergency savings account
  2. Understand your Reality / Expectations. We can’t change reality but we can change our expectations. What’s your reality? What are your expectations? In Australia, the average full-time male worker earns around $80,000 per year. That’s lower than most people think. The idea – or expectation – that we ‘need’ to spend to ‘Keep Up With The Joneses’ is ridiculous and impractical for most households.

Contact Media Stable Expert – Rachel Smith – Author of Underspent and Money saving Expert