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Four In Ten Australians Living On The Edge

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Four in ten Australians living on the edge

A survey has found that four out of ten Australians have no more than a month's worth of living expenses in savings.

In a climate where unemployment continues to rise, albeit more slowly than was generally forecast, the new figures are further evidence that many Australians are living close to the edge of financial oblivion if they lose their job and cannot immediately find another one.

The figures were worse for the young and those on average incomes: 51 per cent of those earning between $30,000-69,999 said they would only last up to 30 days on their savings, and only around half of respondents aged between 18 and 34 said they would be able to last out more than a month with no income.

The Dunn and Bradstreet Consumer Credit Expectations Survey focuses on savings, credit use, spending and debt performance over the September quarter.

Credit card reliant

The survey of 1,200 people also found that more than a third of people (38 per cent) anticipate they will be forced to use their credit card to cover household expenses in the months ahead.

It also found that 14 per cent expect to apply for a credit limit increase on their credit cards in coming months.

The credit card figures stand in contrast to recent official personal finance data that show a decline in credit card use after the financial crisis took hold.

However, Dunn and Bradstreet's chief executive, Christine Christian, says the economic climate is making it increasingly difficult for certain demographics to manage their budgets.

"Australians are feeling challenged by the current economic conditions," she said.

"It's mainly in the middle income household segment, that is people earning between $30,000 and $69,000 a year, they are feeling it particularly hard."

However, there is some good news for retailers - 32 per cent of those surveyed said they intend to make a 'major purchase' during the three months to September.

Every western nations citizenry have become slaves to the banking industry. What a boon.

When wil the cycle break?

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The cycle won't break until people realise the consequences of living like this. At least in the UK, at the moment people think that the Government won't "let it happen" to them, and they'll get some kind of bailout. The banks and everybody else has a duty to protect them from their own stupidty apparently, and besides which everyone else is doing it and life is short and we're all going to burn up in global warming and die of a flus virus anyway so might as well live for the day etc. etc. <_<

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Well I was out there in April and that ties up with what I discovered.

Everything seemed so expensive (£4 for the cheapest shampoo and £1.50 for a Mars Bar)

We spent £200 on shopping for 7 people's food for a few days, and I reckon the same stuff here would have been under £100 in any of our supermarkets.

We stayed with Australian friends and when I asked them about how people could afford such prices the reply was 'credit cards'.

Someone once summed Australia up to me very well. They described it as 'Nowhere near as good as Australian's think it is'.

That's spot on as far as I'm concerned. A classic case in point was that our friends were from South Australia, and were having to put up with rolling power cuts in Adelaide because the Aussies can't/won't invest in power stations.

Yes, it's sunny, but for me there's very little to make it a desirable place to live. One of the worst parts of course is that it's just so damned far to anywhere else.

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The cycle won't break until people realise the consequences of living like this. At least in the UK, at the moment people think that the Government won't "let it happen" to them

Arguably, by standing in the way of the needed correction and by hobbling the economy with bailout-debt and red-tape, the government is making it happen to them.

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Well I was out there in April and that ties up with what I discovered.

Everything seemed so expensive (£4 for the cheapest shampoo and £1.50 for a Mars Bar)

We spent £200 on shopping for 7 people's food for a few days, and I reckon the same stuff here would have been under £100 in any of our supermarkets.

We stayed with Australian friends and when I asked them about how people could afford such prices the reply was 'credit cards'.

Someone once summed Australia up to me very well. They described it as 'Nowhere near as good as Australian's think it is'.

That's spot on as far as I'm concerned. A classic case in point was that our friends were from South Australia, and were having to put up with rolling power cuts in Adelaide because the Aussies can't/won't invest in power stations.

Yes, it's sunny, but for me there's very little to make it a desirable place to live. One of the worst parts of course is that it's just so damned far to anywhere else.

Was having a messenger conversation with an Aussie friend on this very subject just last week. I was staggered at how much food was there. Basic stuff; potatoes (the cheapest you could buy) were three or four times what we pay; meat was more expensive - turkey you can barely even get it's so pricey; Salmon is the equivalent of £15 a kilo; ground coffee was some outrageous price like 40 bucks a kilo or something stupid like that.

Conversely, sh1t is virtually given away. A large pizza - delivered - was the equivalent of 4 quid - and Tuesdays you get 2 for 1.

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Well I was out there in April and that ties up with what I discovered.

Everything seemed so expensive (£4 for the cheapest shampoo and £1.50 for a Mars Bar)

We spent £200 on shopping for 7 people's food for a few days, and I reckon the same stuff here would have been under £100 in any of our supermarkets.

We stayed with Australian friends and when I asked them about how people could afford such prices the reply was 'credit cards'.

Someone once summed Australia up to me very well. They described it as 'Nowhere near as good as Australian's think it is'.

That's spot on as far as I'm concerned. A classic case in point was that our friends were from South Australia, and were having to put up with rolling power cuts in Adelaide because the Aussies can't/won't invest in power stations.

Yes, it's sunny, but for me there's very little to make it a desirable place to live. One of the worst parts of course is that it's just so damned far to anywhere else.

I agree, we lived in Australia for several years, and it is a very expensive place to live, especially for basic living costs.

And those power cuts are no fun in Adelaide, when temperatures reach over 40c there in summer.

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Why the hell have people been so damn stupid?; thinking that the good times would continue for ever? And still a sizeable majority think that we'll all sail away from this mess with nothing more than a slightly tricky 6 months of economising etc. We need TOTAL change, and prepare ourselves for life with half the income we may have previously enjoyed.

I have instigated a complete LOCK DOWN on family spending, and am buying gold coins (and a wide range of other tin foil hat measures) to ensure that we can survive the next decade.

Aussies - wake up and prepare for years of pain.

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When you tell Aussies how much we pay for a pint of milk or meat, veg and other food stuffs, they think were pulling there legs. Chickens can cost the equivalent of £10 - £12 in Sydney. We pay around £5 - £6 depending on where you shop.

The grass always greener.

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So does anyone know why stuff is so expensive in Australia?

Is it tax?

Is it demand?

I don't see how it can be supply.

Are there lots of really thick people in Australia who like getting ripped off?

Because it is too dam hot to and not enough rain.

It's thousands of miles from anywhere.

Just to give you a rough idea how big the place is, it has 4 time zones, Perth is 4 hours behind Sydney, It takes 24hrs on a bus to get from Sydney to Adelaide.

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Are there lots of really thick people in Australia who like getting ripped off?

My brother lives in Perth and whilst loving the place and his life out there the thing that really cheeses him off is the peculiar monoculture of the Aussies - maybe it`s the grip of the Murdoch press out there but every Aussie by rote says how great the place is and what a dump everywhere else must be without having the slightest concept of how the rest of Western society lives.

Edited by Wires 74

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If it was that great why do so many of them look to escape to the northern hemisphere as soon as they can?

Not as bad as America and its idiot nation people but not far off.

Yes you cannot apply generalisations to a whole country…continent…. but in the majority it strikes me as somewhat crass, with a hint of nouveau riche to it. But let’s not mention what they had done and continue to do to the Aborigines that wouldn’t be good for tourism now would it.

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Well I was out there in April and that ties up with what I discovered.

Everything seemed so expensive (£4 for the cheapest shampoo and £1.50 for a Mars Bar)

We spent £200 on shopping for 7 people's food for a few days, and I reckon the same stuff here would have been under £100 in any of our supermarkets.

We stayed with Australian friends and when I asked them about how people could afford such prices the reply was 'credit cards'.

Someone once summed Australia up to me very well. They described it as 'Nowhere near as good as Australian's think it is'.

That's spot on as far as I'm concerned. A classic case in point was that our friends were from South Australia, and were having to put up with rolling power cuts in Adelaide because the Aussies can't/won't invest in power stations.

Yes, it's sunny, but for me there's very little to make it a desirable place to live. One of the worst parts of course is that it's just so damned far to anywhere else.

7+ years ago food in Oz was much cheaper than UK compared to local wages. Since then the position has reversed substantialy. The quality of Australian food has deteriorated enourmously over say a 15 - 20 year time span, their good stuff is now mostly exported with the locals paying top price for donkey meat and scabby veggies and anything bought in the medical/body/teeth care isle is 3 times the price Most of the locals there still believe that everything about their lives is superior in every way to every other place on earth bar none and the media induces this stupidity by way of never ending brain washing which they have done for at least 50 years, always taking the opportunity to talk the place up and slag off everywhere else in the world. It isnt all bad of course but for the comon working person it has fallen behind quite badly in recent years

So does anyone know why stuff is so expensive in Australia?

Is it tax?

Is it demand?

I don't see how it can be supply.

Are there lots of really thick people in Australia who like getting ripped off?

The latter, there is far more colusion than competition which is headed by a couple of big supermarket chains and a lack of oversight by any competion bodies. The only way to buy anything is when it is on so-called 'special' otherwise just about everything is a complete rip off. (bar the afore mentioned pizza).

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I lived there in 82/83 and found fresh meat quite cheap back then. Although their bacon was a bit rank, and as for their pork sausage... forget it.

Yes, even then they did bang on about how great it was to live there, especially the network tv stations like Channel 9, oh, and the commercial radio stations too.

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7+ years ago food in Oz was much cheaper than UK compared to local wages. Since then the position has reversed substantialy. The quality of Australian food has deteriorated enourmously over say a 15 - 20 year time span.

Yes, well I was there about 5 years ago as well as this year (as quoted in my previous post).

Back then the quality of food in the shops really amazed me. Manky fruit & veg and the meat was overpriced rubbish. Every steak seemed to have been dyed red and the chicken was just woeful. It's probably true that most of the 'good stuff' got exported.

It didn't seem so expensive back then, although in fairness I think we got $2.30 to the pound whereas this year it was only $2.00

Having been there twice to visit our friends, I doubt there will be a third time within the next decade.

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My brother lives in Perth and whilst loving the place and his life out there the thing that really cheeses him off is the peculiar monoculture of the Aussies - maybe it`s the grip of the Murdoch press out there but every Aussie by rote says how great the place is and what a dump everywhere else must be without having the slightest concept of how the rest of Western society lives.

My sis lives in Sydney and she can't resist having a dig about the UK every time she comes home. I point out to her that w e have things over here that they don't on Oz, like beautiful countryside and how everything is so accessible but she's not interested because sunny Oz is THE place to be :rolleyes:

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So does anyone know why stuff is so expensive in Australia?

Is it tax?

Is it demand?

I don't see how it can be supply.

Are there lots of really thick people in Australia who like getting ripped off?

Beats me. I mean they're hardly short of land on which to produce food. Australian grown potatoes in Oz are the equivalent of a quid a kilo - cheapest my friend over can buy them. A large sack of them from Morrisons here works out at about 29p a kilo.

Edited by 6538

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Guest CrashTestDummy
My brother lives in Perth and whilst loving the place and his life out there the thing that really cheeses him off is the peculiar monoculture of the Aussies - maybe it`s the grip of the Murdoch press out there but every Aussie by rote says how great the place is and what a dump everywhere else must be without having the slightest concept of how the rest of Western society lives.

This is SO true. Im an aussie and have been living in the UK for 20 years. 10 of them in London. I went back for 3 years in the middle (thought food AND clothes expensive, but rent is relatively cheap). Now back in UK for past 5 years.

Im always copping it from my family about how great it is there and how sh*t it is here, even though most havent been here. I dont get it. I prefer the UK. And yes, im both good looking AND barking mad. :blink:

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