Australians reduce spending on child activities, pets, eating out, and coffee due to rising cost-of-living, prioritizing essential expenses and savings.
Australians are prioritizing family and pets in their budgeting choices amid rising cost-of-living. Latest NAB Consumer Sentiment data shows that 14% of people reduced spend on children's activities, followed by 20% on pet expenses, while 57% cut back on eating out and 49% reduced spending on coffee and snacks. Australians are using the saved funds for everyday living expenses, savings, and mortgage payments.
July 15, 2024
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