Australians say they are struggling to save money amid the cost of living crisis, with one revealing he has just $19 in his bank account.
The Sydneysiders made the sad admission after property investment firm Coposit stopped them in the street over a TikTok video.
Residents were asked how much they had in their savings accounts and most said it was difficult to save due to food and rent prices.
A 25-year-old woman said she recently managed to save about $5,000.
The woman, originally from Perth, said she currently lives in a rented house but wants to buy a home in Sydney.
She fears she will never be able to own her own home because she will need to save at least $100,000 to pay a deposit.
“I’m actually a little scared because I don’t want to rent my whole life and I would love to own a property with my partner,” she said.
One man, who has $11,000 saved, also said he wants to buy a house but has put those plans on hold.
A 25-year-old woman (pictured) said she recently managed to save around $5,000 and wants to buy a house in Sydney.
The 30-year-old said he cannot afford to buy a house where he wants to live and said most of his friends are also experiencing the same problem.
The median home price in Sydney is just over $1.4 million, according to the latest figures from property website PropTrack.
A recent housing affordability survey ranked Sydney as the second least affordable city to buy a home in the world.
Another man, 52, who spent time behind bars, revealed he has only $19 saved and is struggling to pay for essentials.
“At one point, the price of food went from $150 a week… now it’s $300,” he said.
A 62-year-old tenant revealed he had ‘a couple of hundred thousand’ and had been saving to buy a house.
He said his living circumstances are different as many people his age have their own homes.
A 52-year-old man (pictured) who spent time behind bars revealed he has just $19 in savings and is struggling to pay for essentials.
The average Australian has savings of $37,915 and the average full-time worker earns $98,218 according to figures from financial comparison website Finder.
Households earning more than $100,000 a year have more than twice as much saved as households earning less than $50,000.
Men have more saved than women on average, $47,398 compared to $27,492.
A consumer survey conducted in March found that nearly half of respondents had less than $1,000 in their bank account.
