If I could cancel anyone on the planet, I’d cancel Mr. Cost Of Living Crisis. Because he sucks. Doesn’t he know that charging over $10 for some lettuce is super problematic? Additionally, he’s made gas prices go through the roof? That’s a yikes move.
But unfortunately, Mr. Cost Of Living Crisis isn’t an actual person. And even if this concept was a real human boy, I’m sure he’d have Bezos money that would shield him from consequences. So, instead, most of us have to find some ways to cut back on what we’re buying.
Which brings us to some new research conducted by Finder. This organisation asked over 2,000 Australians, “If your expenses started to suddenly increase, what would be the first thing you would cut out to save money?” This question elicited some interesting answers. So, with any further ado, here’s what Finder found out:
The Foods Aussies Would Cut
The thing that most respondents claimed they’d kick to the curb was going out to restaurants. A whopping 22 percent of respondents said this activity would be the first to be binned. However, this survey didn’t ask these folks if they’d switch to shamefully ordering some Deliveroo instead.
In a similar fashion, nine percent of respondents stated that they’d stop going to pubs and bars. Moreover, six percent stated that they’d stop getting takeaway coffees.
The Other Items That Could Be Getting Dumped
On the tech side, 13 percent of people asserted that they’d say farewell to the concept of online shopping. Additionally, ten percent said that they’d cancel their TV subscriptions. Interestingly enough, the Sydney Morning Herald has recently reported that online piracy isn’t going away anytime soon and could even become a bigger phenomenon again.
Some other notable stats include the six percent of respondents that would stop driving their cars. And on a concerning note, two percent of people said that they’d stop paying for their health insurance.
Related: Cost of Living Rebates — State-by-State Guide
Related: Interest Rates Have Just Gone Up for the Fourth Time — When Can We Expect It to Stop?
What Should You Cut From Your Budget?
Rebecca Pike, a money expert at Finder, recommended that you divide your expenses into two different categories. One being essential, and the other being non-essential. “Cut from the non-essentials column first and shop around – now is the time to really think about where and how you can save money,” said Pike.
Nevertheless, Pike also admitted, “there’s only so many ways to trim down expenses before making ends meet starts to feel impossible.” She then stated, “If you find yourself in financial stress already, contact your providers and ask for a payment plan or contact the National Debt Helpline on 1800 007 007.”
Read more stories from The Latch and subscribe to our email newsletter.