Australians have revealed the non-essential items they refuse to stop spending money on despite the cost of living skyrocketing.
Household budgets are being squeezed as prices for groceries, petrol and electricity approach record levels, while those with mortgages have seen their monthly repayments soar as the Reserve Bank struggles against inflation by increasing the cash rate.
The not-for-profit food bank recently released data showing internet searches in Australia for “find food” increased from around 4,000 per month in August 2022 to more than 24,000 per month this year.
But there are still some “luxury” items that Australians say they refuse to give up, although they will likely have to take tougher measures in other areas.
A Reddit user received a flood of comments when he asked the question on Wednesday: “What are the discretionary expenses you will never cut from your budget?”
Australians are having to cut their budgets as the cost of groceries and bills skyrocket.
Many of those who answered the question said they refused to cut back on their gym membership and associated costs, such as workout clothes and supplements.
“Gym membership is non-negotiable for me,” one person said.
“Group fitness,” agreed another.
“I do Jiu Jitsu and my wife goes to a fitness class. It costs us about $5,000 a year, but the mental and physical benefits, especially with a young family, are invaluable.
Another commenter said they paid for a subscription to the running app Strava because “it motivates me to keep running and stay fit and I’ve benefited a lot from it over the years.”
Other app subscriptions, including media streaming services, were considered essential by many people.
“Streaming services for me; Audible, Spotify and two TVs,” one person said.
Another Netflix addition was something they refused to cut back on.
Fresh grocery store ingredients rather than cheap processed foods also seemed to be popular.
‘Eat healthy. I weighed 102kg in early February, now about 71kg and I have never felt better,” one person said.
“Good quality groceries (for me). I prefer organic and don’t eat a lot of chocolate, but if I do it’s Cadbury/Lindt,” said another.
Much like vacations, with one commenter explaining, “It doesn’t have to be an expensive vacation, 90% of my vacations are spent camping or hiking. »
Streaming services such as Netflix were an absolute must for many people
One person said his video gaming hobby was something he couldn’t live without because it cost less than $100 a year and gave him “hundreds of hours of entertainment” and kept him from going out. and spend money so as not to be bored.
A few users said that cleaning several times a month was “worth it”, while golf and hot showers were also mentioned.
One person said it was better to use quality craftsmen and mechanics than “buy cheap,” while others said all the costs associated with their pets were a must.
One person said social activities were essential.
“I’m single, so I tend to go out a lot. It’s generally just for concerts, but also dinners/lunches with friends. If I cut back on my spending, I would probably be pretty lonely since I also live alone.
“Skincare and sunscreen,” said another.
“I’d rather have the chance to look 20% better in 40 years than save a few hundred dollars every year and not feel better in my old age/not take care of my skin.”
But there were also some more unusual responses.
“Craft beer,” one person said.
“I don’t drink as much as I used to. But I love it too much to let it go, I haven’t bought a slab in months but I go to my local once a week and drink between 1 and 4 beers depending on my mood/what they have on offer. pressure.’
“Scalia anchovies in extra virgin olive oil,” said another. “They don’t even come from my discretionary budget. It’s a living expense as far as I’m concerned.
A poll released this week shows many Australian voters are concerned about the cost of living.
According to the survey, they are now less likely to support the federal Labor government, although Anthony Albanese remains the preferred prime minister.
Prime Minister Anthony Albanese’s Labor government is feeling growing voter frustration over the cost of living crisis (pictured in the Cook Islands this month)
Around 50 per cent expect the economy to deteriorate over the next three months, according to a Resolve poll published in Nine newspapers on Monday.
More than half – 52 percent – say the cost of living is their biggest priority, up from 32 percent at the end of last year.
Labor primary support fell to 35 percent, from 37 percent last month, against the Coalition which slipped to 30 percent from 31 percent.
The value of goods and services sold by Australian retailers rose 0.9 per cent in September, well above the 0.3 per cent rise forecast by markets.
The firmer September result follows a lackluster few months, with retail trade tracked by the Australian Bureau of Statistics increasing 0.3 per cent in August and 0.6 per cent in July.
The ABS has reviewed a long list of reasons for the rise in retail sales figures, including the release of the new iPhone and the introduction of a rebate program on energy-efficient appliances in Queensland.
Ben Dorber, head of retail statistics at ABS, said warmer-than-usual spring weather also played a role, prompting increased spending on hardware, gardening and clothing and supporting an increase of 1, 7 percent for department stores.
There were also major events like the FIFA Women’s World Cup, which temporarily boosted spending.