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What Aussies are ditching to save $286 a month

Aussies are putting their kids and pets above all else in the cost-of-living crisis.

A composite image of Australian money and a crowd of people walking in the Sydney CBD to represent the cost of living crisis.
Aussies are willing to cut back on some things in the cost-of-living crisis to prioritise what's important to them. (Source: Getty)

Despite the cost-of-living crisis, Aussies are determined to keep the lives of their kids and pets as unchanged as possible, according to new research.

Aussies are making ‘considered choices’ to meet the cost of school fees, children’s sports and insurance, NAB revealed.

NAB’s economic research demonstrates the trade-offs Australians are willing to make to protect those things they really value.

Least willing to cut back on:

  1. Children’s private school fees (10 per cent)

  2. Children’s activities: sport, hobbies (12 per cent)

  3. Spending on pets (18 per cent)

  4. Outsourced home services/cleaning (21 per cent)

  5. Insurances: health, home, car (21 per cent)

Most willing to cut back on:

  1. Eating out at restaurants/takeaway (55 per cent)

  2. Micro treats: coffees or lunches out (50 per cent)

  3. Trips to the movies or entertainment (49 per cent)

  4. Car trips to save on petrol (45 per cent)

  5. Holidays (43 per cent)

NAB head of everyday banking Claire Righetti said the rising cost of living had prompted Aussies to cut back spending in areas they could live without to prioritise their spending on things they valued most.

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“Australians are becoming more ‘considered consumers’ and saving an average of $286 each month through small thoughtful cutbacks. It means they can still spend on those things that really matter – for some people it’s the family pet and, for others, it’s getting extra help around the home,” Righetti said.

“Despite feeling the pinch, people are making cutbacks on things like coffee and cinema outings, so they can still dedicate funds to their kids and pets.”

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