Hi,
Is anyone else freaking out about the cost of living rising? Interests rates, petrol, food etc.
Are there many other people who live paycheck to pay check? These days I seem to count days until
I get paid again.
I always have enough of everything to be comfortable, get by and have some luxuries, but I’m getting worried about the day when I won’t -
or will go backwards dipping in to savings.
36 Replies
Not yet.
MSM likes to build hype out of nothing.
What can you do today to build a buffer?
Are you paying a mortgage? Are you paying extra on it? I got my home loan at 8%, that's the repayment I budgeted for so that's what I pay - right through the GFC and right through the pandemic. You might not be able to increase that much, and you might not even need to, but do pay extra if you're not yet.
Petrol. Do you have a fuel discount card? As an RACQ member I get 4c/l off at Puma. If you don't have anything similar use the petrol spy app to seek the cheapest servo, and watch the fuel cycles for highs and lows so you're picking the best day to fill up. And fill up early in the morning. Apparently heat makes petrol expand a little so you get a bit less for your buck as the day heats up. I also hold the hose up above the nozzle so every last drop past the pump goes into my fuel tank.
Our IGA offers 4c/l off groceries. So if I get 40 litres at 4c/l off I get that same amount discounted off my groceries when I give the cashier my fuel receipt. Might only be $4-5 per week but it adds up.
I used to meal plan ahead and do my shop. Now I plan more meals based on specials and will adjust a recipe to use alternate ingredients that should be interchangeable (like capsicum instead of zucchini). That and bulk shop the specials, like never paying full price on hand soap, body wash, dishwashing tabs or rinse, washing powder or softener, pasta etc.
Leaves that little bit in the kitty to still manage some luxuries like a coffee once a week and my $15 lotto splurge.
does msn have the ability to fudge the inflation rate?
Yeah, the media might be all over it but it's definitely not hype, inflation is very real and we're in the midst of a massive rise.
Never said they were fudging anything?
Just that I'm not stressing yet based only on their information.
you know how inflation is calculated right?
Does who know how inflation is calculated?
I do worry, but I pop aside a little every fortnight as a little buffer, and I’m paying slightly more on my mortgage. I am worried, I’m a single income household with children and I do make ends meet usually, even if they’re tight ends.
Some weeks I have gone without extra food, and just stuck tight to 3 meals and after dinner cuppa, some weeks I’m lucky and can afford microwaved popcorn. It just depends, as I’m also a casual shift worker so I never know what I’ll earn.
What I do know, is I’m lucky, and I’ve lived within my means to ensure a buffer in the future if I need it. I suggest you do the same, and look very closely at your budget, trim it as needed.
I really feel for anyone on a low income right now. Around 6 years ago I was trying to live on a very low income when I couldn't find a job and I only just scraped by then. Centrelink payments haven't gone up unless you're an aged pensioner so I really feel for those trying to survive on that amount of money with the cost of everything today. It's crazy.
I have lived in hard times before so right now I’m building savings and also just noticing and enjoying those nice things I can have without stress atm. I order a meal delivery service at the moment, I have an iPhone and my kids also have contracts, we have weekends away and season passes to the zoo. I just bought myself a 200 jacket and stocked up the kids on new clothes, jackets beanies trackies etc. actually that prompted my kids to say “ you know how you said we are closer to poor than rich, I don’t think poor people could have this stuff” and obviously they don’t know the financial situation but overall it’s not dire and it made me appreciate it as well, I said yes, we should be really grateful we can’t say we’re poor at the moment we have a lot of nice things. No point worrying, just do your best to do your best.
what a tone deaf and insensitive post for those doing it tough.
Wow……just wow! You have no idea do you?
As I said I have done it tough so I do know. And I am not speaking to someone doing it tough, I’m speaking to the OP who says quite clearly that she’s doing ok right now.
She used to be comfortable with careful budgeting and now she is getting desperate for pay day to come around. Your response is bragging and rubbing salt in wounds
No. You have misread both posts.
original commenter here - glad someone else thought the same.
one big humble brag, could have just said she's comfortable atm, but had to list everything.
i think the actual advice is the last sentence.
Sad times if you think zoo tickets, mobile phones and winter jackets is bragging.
Because for some people, weekends away, zoo trips and phone plans IS bragging. Why brag?? I'm not the OP and very grateful to be a 2 income family, but people doing it tough.
Those things are luxuries to most families. That actually IS sad because it really speaks to the level of finacial struggle there is in our country right now! Weekends away, quality coats and trips to the zoo used to be attainable to most families.
That aside, it was just a weird way to respond to this particular question. Listing all the awesome shit you have when someone else has mentioned they're worried about how they're going to manage financially due to the rising cost of living is in really poor taste.
I'm not the commenter but the jealousy of those less fortunate in this thread is laughable.
It's not laughable. We are well off compared to quite a few people. We are doing ok and covid had no financial impact on our incomes but I'm not going to list here a list of all of our holidays, purchases etc. Why do it when someone is struggling? Why make someone feel like crap?
Pointing out someone's insensitivity isn't jealousy!
If this were a question about saving up for expensive clothes, holidays and paid activities, this response would be completely appropriate.
However it was a question about the cost of living and concern about future financial stability - that's not the time or place to be rattling off your extravagant purchases.
Having these things should not get you spat at. These things are nice, enjoy them, enjoy the little things YOU have, but if or when we need to tighten our belts IF the cost of living gets that bad, then they can all go!
I am one of the people who said the response was insensitive. I'm not remotely jealous. I just have empathy and called out someone who obviously lacks it.
That's the secret with jealousy. No one ever believes they have it.
I think you might misunderstand the definition of jealousy.
Calling out people for being insensitive isn't jealousy. Trust me, a $200 jacket and phone contracts isn't jealousy. Sure, a $70m house and $3,000,000 job would make most people jealous but not this petty stuff.
The collective point people were trying to make here was that the poster of this comment probably needs to learn how to read the room. Finances/potential financial struggle is a touchy subject, it really doesn't hurt to stay modest when the topic arises.
If you think that constitutes jealousy, you probably need to learn how to read the room as well...
Haha and yet the jealous comments are still rolling in denial 🤣
I’ve certainly noticed prices in the supermarket have risen lately. Toothpaste (regular boring toothpaste) was $10 in the supermarket today.
I will have to cut back on some things. Even formally cheap options like mince is expensive at the moment.
I’m definitely getting worried.
We are a two income family on pretty good wages and even we have noticed the prices.
- So I for the last 12 months I have been shopping at the fruit and veg market ($50pw max) for a family of 5. We usually have stuff left over for more than a week that's how much better the value is.
- butchers for meat - find a good butcher that doesn't charge a fortune. We find a local halal butcher so friendly with great prices (we are not Muslim but we don't care, the butcher is the best!)
- cook from scratch as much as possible. I don't buy any pasta sauces, pizza sauces etc. Have some great recipes.
- look at things like shopback for additional value when shopping online.
- use your rewards cards to your advantage. I find flybuys a huge benefit. Work the system and it's brilliant.
- review all of your bills like gas and electricity to ensure that you are getting the best deal. Same goes for your insurances. Companies rely on your loyalty and laziness. Changing providers is really easy.
- if possible buy your phone outright. I have done that 3 years ago and it's the best!! I got a $600 phone and pay so little for data/calls etc
- use 7/11 app, Costco, Coles/woolies/united for fuel discounts.
- if paying mortgage, try to pay a few $$ more into it
This is great advice!
The only thing I'd like to add is to check prices before using Shopback and CashRewards type services. They increase the prices on certain websites. I looked at accomodation via a website I always get good deals on before/after clicking through and the cost went up more than the cashback amount! Yet my skincare company offer reat cashback and don't go up. So definitely worth checking!
My grocery bill alone has increased by about $30 a week and that is literally just because all the staples I've been buying for 5 odd years have gone up 20c to $2 (or even more in some cases) depending on the item. Fruit, veg and meat are at the highest prices I've seen for a long time as well.
Our occasional treats are becoming more and more occasional, I prefer to use sensitive skin washing pods but I've had to sacrifice those to afford the basics we need more, I've been buying frozen and canned veg to save cash despite them tasting like crap.
Rents are extortionate. Rental prices in my suburb have gone up by $200 - $350 a week since I moved in 10 years ago. How much has my income increased in the last 10 years you ask? Zero, zero bloody dollars...
My power bill is higher, fuel is more expensive, my NBN plan went up $5 recently. My kids uniform items have gone up a few dollars per item which sounds insignificant but it all adds up.
Don't get me wrong, I'm grateful that I have all the things I do but it's becoming more like the things we need for basic survival are turning into luxuries!
I genuinely don't know how people who are in a worse financial position than myself manage at all 😔
I’m on a pension and my son is on a pension, it’s getting scary. Luckily we have secure housing, otherwise we’d be screwed!
I'm in a position where I'm conscious that if I don't adjust, all my and my husband's hard work to be in a good financial situation could be significantly reduced. I've just purchased an air garden so that I can grow most of our veggies and I've stopped being lazy and buying meat at the supermarket... butchers only. I could spend hundreds more than I need to on groceries if not careful each week due to allergies and intolerances etc. I've also looked at cheaper cleaning product options etc. Little things like that adds up quickly and doesn't actually improve my life in any way.
Most people I know are living paycheck to paycheck :(
You’ll own nothing but be happy !
NWO look into it it’s well and truly happening !