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What Aussies won't give up in cost of living crunch

Aussies won’t give up small luxuries like alcohol, takeaway and coffees.

Uber eats and Australian money. Cost of living sacrifices.
There are a few things Aussies aren’t willing to sacrifice, despite the cost of living pressures.(Source: Getty)

Aussies aren’t willing to give up socialising or luxuries like alcohol and takeaway, despite the rising cost of living.

A Compare the Market survey of 1,010 Australians found more than a quarter of Aussies weren’t willing to sacrifice their social outings to ease costs.

Compare the Market’s Natasha Innes said this wasn’t surprising given the COVID-19 lockdowns Aussies had experienced, with around a third of Baby Boomers unwilling to make the sacrifice.

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Takeaway meals and coffees also remained a top priority for Aussies, with 17 per cent unwilling to give them up. One in five Gen Zs said they wouldn’t give up their takeaway habit, compared to just 11 per cent of Baby Boomers.

While meal-delivery services like Uber Eats, Deliveroo and Menulog were convenient, Innes said they could come at a cost.

“There are usually delivery fees involved and it’s pretty easy for costs to add up – especially if you use these apps regularly,” she said.

“Similarly, purchasing a coffee on the way to work every day may only seem like $5 or $6, but that’s around $25 a week, $108 a month or $1,300 a year. It really adds up.”

Health and beauty treatments (17 per cent), subscriptions (14 per cent), alcohol (12 per cent) and gym memberships (10 per cent), were other luxuries Aussies didn’t want to forgo.

Innes said there were small changes Aussies could make to save cash, so they didn’t have to miss out on things they enjoyed.

“Spending a bit more time researching or hunting down the best deals and bargains is one of the best ways to make that dollar stretch. It could save you significantly in the long run,” she said.

Other tips included comparing energy and insurance providers, utilising rewards programs, opting for pick-up rather than delivery for takeaway, and cutting back on subscriptions that weren’t being used.

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