Aussies cuts back on take outs as cost of living crisis bites

A report revealed that almost eight in 10 have said they are reducing spending to cope.

More than one in five Australians are reducing their spending on food deliveries as consumers cut back on expenses due to the continued rising cost of living, a report by Finder revealed.

These increased costs have impacted the majority of Australians, with 78% of respondents to Finder’s Consumer Sentiment Tracker saying they have had to reduce their spending to cope with the increasing cost of living. Groceries took the largest hit, with 50% of respondents cutting back. Consumers then focused on reducing spending on non-essentials with 37% pulling back on holidays, 31% on entertainment and food delivery and 30% on petrol.

Meanwhile, the report also found that the main non-housing expense categories driving this increase in inflation are food and non-alcoholic beverages (9.2%), recreational costs (9%), furnishings and furniture (8.4%) and transport (8%). The cost of clothing and footwear (5.3%), financial services (5%), education (4.6%) and health (3.8%) have also increased more dramatically than in recent years.

The study also said revealed that three in four people have changed their eating habits in the past 12 months due to rising costs.

Finder’s Consumer Sentiment Tracker (CST) surveys over 1,000 Australians every month through a survey distributed by Qualtrics – an SAP company. The survey sample is nationally representative in age, gender, location and income. The CST has run since April 2019 and surveyed 42,000 Australians so far.