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New trend saving Aussies $450 a month: ‘Saying no’

Young Aussies like Maya McIntyre are cutting back on non-essential spending to save money.

Ever heard of ‘loud budgeting’ or ‘no-spend months’? They are just some of the new money trends helping younger Aussies save hundreds of dollars each month.

New research from NAB found Aussies under 30 were saving more than $450 a month by embracing TikTok budgeting trends and cutting back on non-essentials.

This included ditching eating out ($124), micro-treats like coffee, snacks and lunches out ($73), entertainment ($64), car journeys to save money on petrol ($70), food delivery services ($96) and streaming services ($30).

Maya McIntyre on saving money.
Aussies like Maya McIntyre are saving money by cutting back on non-essentials like subscriptions and eating out. (Source: Supplied)

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23-year-old Maya McIntyre said she’d been cutting back on discretionary spending and had managed to save $250 each month, which she was stashing away in a high-interest savings account.


“I’m definitely making some changes to what I’m spending money on and I’ve cut back on things like streaming subscriptions,” McIntyre said. “I’m eating out less and I’m choosing cheaper or free things to do with friends rather than expensive meals and pub visits.

“Most of my friends are making some changes to the way we think about our finances and some of us are definitely more open to saying ‘no’ to things if we feel like we want to save money instead.”


‘Loud budgeting’ and ‘no spend months’

NAB personal banking executive Paul Riley said young Aussies were embracing “cash-conscious” trends, such as ‘loud budgeting’.

“Loud budgeting is all about unapologetically prioritising your own financial goals, setting smart boundaries on spending, and feeling comfortable to talk about it openly and authentically,” Riley explained.

“Rather than going out for an expensive dinner with friends, younger Australians are confidently opting to stay in and choose to put that amount into a high-interest savings account or pay down debt.”

Another trend gaining traction on TikTok is ‘no or low spending months’, with many Aussies trying their hand at ‘no spend January’ or the ‘75 hard style challenge’, which involves styling clothes from your existing wardrobe and buying nothing new.

“[‘No or low spending months’] involve giving up alcohol, takeaway food or shopping for clothes or beauty for the month, not booking holidays, food prepping or bringing your lunch to work or finally asking mates to repay cash you’re owed,” Riley said.

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