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Is it a Need .. or a Want?

With the cost of living pressure being the hot topic of the moment, there’s no better time to start thinking about where your money’s going.

While the rising cost of fuel and groceries is hard to avoid, it’s easy to not notice those non-essential spends when you’re tapping on those cheeky and convenient payWave machines.

According to recent research, the average Aussie spends $3,172 pa on things they don’t need. These are non-essential, sneaky expenditures that get in the way of saving, such as;

  1. Food and drink, like eating out, food delivery services, coffees and snacks.
  2. Impulse buys, for example when you go the shops looking for one thing and come out with something else entirely. 
  3. Entertainment, like streaming services and recreation.


It’s a good idea to keep these kinds of things front of mind. Here’s some things to think about if you’ve been unsuccessful at trying to save more:

  • Monitor your spending, make sure to check your payWave transactions regularly. You might consider using a budgeting app to keep on track and keep you honest.
  • Review any subscriptions or memberships that you are no longer using, like Netflix or a gym membership.
  • Look closely for emotional spending cues and try to avoid your weaknesses. For me that’s plants, I must avoid the outdoors of Bunnings!  
  • Ask yourself is this a want or a need? Sadly, I don’t NEED so many plants. 
B.Comm ADFS (FP) | Authorised Representative No. 325471

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