Key Points
- Within the last year, the federal Treasury says that full time employees have been on the receiving end of a solid $1000 increase in their wages, and there have been over 330,000 more positions.
- To cope with the increased cost of living, Australians have changed their consumer habits as a new survey from Monash University has revealed people are becoming more conscious of their spending.
- For full-time working mum Kitting Altera, it's important to know your spending and find ways to save money and keep bills low.
A new survey from Monash University has revealed people are becoming more conscious of their spending.
Dr Eloise Zoppos, lead author of the survey, says that more Australian consumers are choosing to shop locally for more local products.
"We're seeing a big trend of Australian shoppers wanting to support local businesses and locally produced products."
"This trend has really been around for a few years, and we started to see it in our research during the pandemic because people had a chance to slow down and think more about what they were spending and where they were buying - and of course with some Australians not being able to travel too far to make their purchases. So that's a trend that we've been seeing for quite a few years and it's becoming stronger than ever in the current climate," Dr Zoppos says.
For Sydney mum Kitting Altera, she often tries to look for sale items when doing her groceries to help reduce daily expenses.
Ms Altera's family also benefits greatly from their decision to have solar panels installed when they bought their house just over two years ago.
"When we bought our house, we invested in solar panels. I know it sounds like it's more expensive, but in the long run, we calculated it, it's all worth it."
"We are saving more in our bills and at least we pay a fixed amount and we can factor it into our budget."
