{"id":3755,"date":"2023-12-27T22:54:12","date_gmt":"2023-12-27T22:54:12","guid":{"rendered":"https:\/\/economicherald.net\/?p=3755"},"modified":"2023-12-27T22:54:12","modified_gmt":"2023-12-27T22:54:12","slug":"wisr-survey-reveals-aussies-feel-financial-strain-yet-daily-coffee-remains-priority","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=3755","title":{"rendered":"Wisr survey reveals Aussies feel financial strain, yet daily coffee  remains priority"},"content":{"rendered":"<p>National survey by fintech lender Wisr show Aussies are feeling rising costs of living<br \/>\n39% of respondents indicate groceries are exerting the most pressure on their household budgets<br \/>\nDespite feeling cost of living pressure some items remain a priority for Aussies, including coffee <\/p>\n<p>\u00a0<\/p>\n<p><strong><em>Special Report:<\/em><\/strong> <strong>Australians are feeling the pinch of rising costs of living, according to a national survey by Wisr, but some items we\u2019re not willing to go without, including our daily coffee. <\/strong><\/p>\n<p>Fintech lender <a href=\"https:\/\/stockhead.com.au\/company\/wisr-wzr\/\" target=\"_blank\" rel=\"noopener\"><strong>Wisr (ASX:WZR)<\/strong><\/a> conducted a national survey in November to find out what Aussies are doing to survive rising costs of living and the effects on their household budgets.<\/p>\n<p>Interest rates have risen from a record low of 0.1% at the start of May 2022 to now 4.35% \u2013 its highest level\u00a0since November 2011 \u2013 although the RBA is working to bring inflation back down to its 2-3% target, having hit the pause button during the recent December meeting.<\/p>\n<p>CPI increased by 1.9% in the December 2022 quarter and by 7.8% over the year, which the RBA says was the highest year-ended CPI inflation since 1990.<\/p>\n<p>While CPI increased by 1% in the September 2023 quarter and by 5.4% over the year, there\u2019s still some way for it to fall.<\/p>\n<p>Homeowners are grappling with higher monthly mortgage repayments but also costs across the board from food to bills, rent, fuel, medical, insurance, clothing and entertainment.<\/p>\n<p>So, just where are Aussies feeling the pinch? And what sacrifices are they willing to make or not make to ensure their funds go further?<\/p>\n<p>\u00a0<\/p>\n<h2><strong>About the survey<\/strong><\/h2>\n<p><strong>\u00a0<\/strong>WZR surveyed 1,137 Australians across the state and territories, in metropolitan, regional and rural areas.<\/p>\n<p>Respondents ranged in age from 18 to above 65, with the majority aged 25 to 54, \u00a0and mostly employed full-time across a range of industries.<\/p>\n<p>Females constituted 52%, males 47%, with 0.2% identifying as non-binary and 0.8% preferring not to specify.<\/p>\n<p>In terms of relationship status, 29% were single, 9% were dating but not cohabiting, 19% were in defacto relationships, 36% married, 3% separated, 3% divorced, and 1% widowed.<\/p>\n<p>Respondents included individuals with various income brackets:<\/p>\n<p>4% earned under $15,000<br \/>\n7% fell within the range of $15,000 to $29,999<br \/>\n11% had incomes between $30,000 and $49,999<br \/>\n27% fell in the $50,000 to $74,999 bracket<br \/>\n23% earned between $75,000 and $99,999<br \/>\n21% had incomes in the range of $100,000 to $150,000<br \/>\n7% earned more than $150,000<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Income and mental health<\/strong><\/h2>\n<p>Of those surveyed, 46% had an income rise, while 38% stayed constant and 16% fell.<\/p>\n<p>A raise of income for 36% was between $1K to $5K, primarily due to work raises (53%).<\/p>\n<p>Conversely, 26% faced a decrease within the $1K to $5K range, with 30% attributing this to a job change and 21% altered work hours.<\/p>\n<p>Participants rated the mental health impact of the cost of living as a 6 on a scale of 1 to 10.<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Groceries cause biggest financial strain<\/strong><\/h2>\n<p>We\u2019ve all got to eat but, according to the WZR survey, 39% of Australians indicated that groceries are exerting the most pressure on their household budgets.<\/p>\n<p>As a result of these challenges, 68% have opted for cheaper or less ethical alternatives in groceries, such as switching from branded to home brand products or choosing caged eggs. Additionally, 58% now limit their purchases to items on special.<\/p>\n<p>However, in a positive sign grocery relief may be coming, <a href=\"https:\/\/www.abs.gov.au\/statistics\/economy\/price-indexes-and-inflation\/consumer-price-index-australia\/latest-release\" target=\"_blank\" rel=\"noopener\">annual food inflation eased<\/a> to 4.8% in the September quarter, down from 7.5% in June quarter and the peak of 9.2 per cent in December 2022.<\/p>\n<p>Groceries were closely followed by bills (24%), rent (24%), and fuel costs (20%).<\/p>\n<p>Concerningly, 45% have sacrificed necessary medications, while 74% are forgoing or delaying doctor appointments.<\/p>\n<p>Furthermore, 66% have halted their travel plans due to financial constraints.<\/p>\n<p>Other cutbacks include 65% refraining from buying new clothes, 63% avoiding dining out, and 44% reducing subscription services like Netflix.<\/p>\n<p>And it seems 40% have foregone beauty treatments, such as hairdressing, injectables and laser procedures, due to budgetary constraints.<\/p>\n<p>\u00a0<\/p>\n<h2><strong>What won\u2019t you give for your daily coffee fix<\/strong><\/h2>\n<p>Apart from the kids, vehicle expenses, and fuel costs, many Australians are unwilling to forgo cheese, their daily coffee fix, access to the gym or purchase of fresh produce.<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Things we\u2019re not willing to go without<\/strong><\/h2>\n<p>\u00a0<\/p>\n\n<p>Source: Wisr<\/p>\n<p>\u00a0<\/p>\n<p><em>This article was developed in collaboration with Wisr, a Stockhead advertiser at the time of publishing. <\/em><\/p>\n<p><em>This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n<p><span class=\"et_bloom_bottom_trigger\"><\/span><\/p>\n<p>The post <a href=\"https:\/\/stockhead.com.au\/tech\/wisr-survey-reveals-aussies-feel-financial-strain-yet-daily-coffee-remains-priority\/\">Wisr survey reveals Aussies feel financial strain, yet daily coffee  remains priority<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>National survey by fintech lender Wisr show Aussies are feeling rising costs of living 39% of respondents indicate groceries are exerting the most pressure on <a href=\"https:\/\/economicherald.net\/?p=3755\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":3756,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-3755","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Wisr survey reveals Aussies feel financial strain, yet daily coffee remains priority - Economic Herald<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/economicherald.net\/?p=3755\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Wisr survey reveals Aussies feel financial strain, yet daily coffee remains priority - Economic Herald\" \/>\n<meta property=\"og:description\" content=\"National survey by fintech lender Wisr show Aussies are feeling rising costs of living 39% of respondents indicate groceries are exerting the most pressure on [more...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/economicherald.net\/?p=3755\" \/>\n<meta property=\"og:site_name\" content=\"Economic Herald\" \/>\n<meta property=\"article:published_time\" content=\"2023-12-27T22:54:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/economicherald.net\/wp-content\/uploads\/2023\/12\/WZR-Survey-1-KHRTiL.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"2121\" \/>\n\t<meta property=\"og:image:height\" content=\"1193\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=3755#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=3755\"},\"author\":{\"name\":\"\",\"@id\":\"\"},\"headline\":\"Wisr survey reveals Aussies feel financial strain, yet daily coffee remains priority\",\"datePublished\":\"2023-12-27T22:54:12+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=3755\"},\"wordCount\":706,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=3755#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/economicherald.net\\\/wp-content\\\/uploads\\\/2023\\\/12\\\/WZR-Survey-1-KHRTiL.jpeg\",\"articleSection\":[\"Finance\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/economicherald.net\\\/?p=3755#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=3755\",\"url\":\"https:\\\/\\\/economicherald.net\\\/?p=3755\",\"name\":\"Wisr survey reveals Aussies feel financial strain, yet daily coffee remains priority - Economic Herald\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=3755#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=3755#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/economicherald.net\\\/wp-content\\\/uploads\\\/2023\\\/12\\\/WZR-Survey-1-KHRTiL.jpeg\",\"datePublished\":\"2023-12-27T22:54:12+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=3755#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/economicherald.net\\\/?p=3755\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=3755#primaryimage\",\"url\":\"https:\\\/\\\/economicherald.net\\\/wp-content\\\/uploads\\\/2023\\\/12\\\/WZR-Survey-1-KHRTiL.jpeg\",\"contentUrl\":\"https:\\\/\\\/economicherald.net\\\/wp-content\\\/uploads\\\/2023\\\/12\\\/WZR-Survey-1-KHRTiL.jpeg\",\"width\":2121,\"height\":1193},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=3755#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/economicherald.net\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Wisr survey reveals Aussies feel financial strain, yet daily coffee remains priority\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/#website\",\"url\":\"https:\\\/\\\/economicherald.net\\\/\",\"name\":\"Economic Herald\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/economicherald.net\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/#organization\",\"name\":\"Economic Herald\",\"url\":\"https:\\\/\\\/economicherald.net\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/economicherald.net\\\/wp-content\\\/uploads\\\/2023\\\/10\\\/cropped-cropped-economicheraldlogo-1.png\",\"contentUrl\":\"https:\\\/\\\/economicherald.net\\\/wp-content\\\/uploads\\\/2023\\\/10\\\/cropped-cropped-economicheraldlogo-1.png\",\"width\":850,\"height\":760,\"caption\":\"Economic Herald\"},\"image\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/#\\\/schema\\\/logo\\\/image\\\/\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Wisr survey reveals Aussies feel financial strain, yet daily coffee remains priority - Economic Herald","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/economicherald.net\/?p=3755","og_locale":"en_US","og_type":"article","og_title":"Wisr survey reveals Aussies feel financial strain, yet daily coffee remains priority - Economic Herald","og_description":"National survey by fintech lender Wisr show Aussies are feeling rising costs of living 39% of respondents indicate groceries are exerting the most pressure on [more...]","og_url":"https:\/\/economicherald.net\/?p=3755","og_site_name":"Economic Herald","article_published_time":"2023-12-27T22:54:12+00:00","og_image":[{"width":2121,"height":1193,"url":"https:\/\/economicherald.net\/wp-content\/uploads\/2023\/12\/WZR-Survey-1-KHRTiL.jpeg","type":"image\/jpeg"}],"twitter_card":"summary_large_image","twitter_misc":{"Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/economicherald.net\/?p=3755#article","isPartOf":{"@id":"https:\/\/economicherald.net\/?p=3755"},"author":{"name":"","@id":""},"headline":"Wisr survey reveals Aussies feel financial strain, yet daily coffee remains priority","datePublished":"2023-12-27T22:54:12+00:00","mainEntityOfPage":{"@id":"https:\/\/economicherald.net\/?p=3755"},"wordCount":706,"commentCount":0,"publisher":{"@id":"https:\/\/economicherald.net\/#organization"},"image":{"@id":"https:\/\/economicherald.net\/?p=3755#primaryimage"},"thumbnailUrl":"https:\/\/economicherald.net\/wp-content\/uploads\/2023\/12\/WZR-Survey-1-KHRTiL.jpeg","articleSection":["Finance"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/economicherald.net\/?p=3755#respond"]}]},{"@type":"WebPage","@id":"https:\/\/economicherald.net\/?p=3755","url":"https:\/\/economicherald.net\/?p=3755","name":"Wisr survey reveals Aussies feel financial strain, yet daily coffee remains priority - Economic Herald","isPartOf":{"@id":"https:\/\/economicherald.net\/#website"},"primaryImageOfPage":{"@id":"https:\/\/economicherald.net\/?p=3755#primaryimage"},"image":{"@id":"https:\/\/economicherald.net\/?p=3755#primaryimage"},"thumbnailUrl":"https:\/\/economicherald.net\/wp-content\/uploads\/2023\/12\/WZR-Survey-1-KHRTiL.jpeg","datePublished":"2023-12-27T22:54:12+00:00","breadcrumb":{"@id":"https:\/\/economicherald.net\/?p=3755#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/economicherald.net\/?p=3755"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/economicherald.net\/?p=3755#primaryimage","url":"https:\/\/economicherald.net\/wp-content\/uploads\/2023\/12\/WZR-Survey-1-KHRTiL.jpeg","contentUrl":"https:\/\/economicherald.net\/wp-content\/uploads\/2023\/12\/WZR-Survey-1-KHRTiL.jpeg","width":2121,"height":1193},{"@type":"BreadcrumbList","@id":"https:\/\/economicherald.net\/?p=3755#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/economicherald.net\/"},{"@type":"ListItem","position":2,"name":"Wisr survey reveals Aussies feel financial strain, yet daily coffee remains priority"}]},{"@type":"WebSite","@id":"https:\/\/economicherald.net\/#website","url":"https:\/\/economicherald.net\/","name":"Economic Herald","description":"","publisher":{"@id":"https:\/\/economicherald.net\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/economicherald.net\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/economicherald.net\/#organization","name":"Economic Herald","url":"https:\/\/economicherald.net\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/economicherald.net\/#\/schema\/logo\/image\/","url":"https:\/\/economicherald.net\/wp-content\/uploads\/2023\/10\/cropped-cropped-economicheraldlogo-1.png","contentUrl":"https:\/\/economicherald.net\/wp-content\/uploads\/2023\/10\/cropped-cropped-economicheraldlogo-1.png","width":850,"height":760,"caption":"Economic Herald"},"image":{"@id":"https:\/\/economicherald.net\/#\/schema\/logo\/image\/"}}]}},"_links":{"self":[{"href":"https:\/\/economicherald.net\/index.php?rest_route=\/wp\/v2\/posts\/3755","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/economicherald.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/economicherald.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/economicherald.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3755"}],"version-history":[{"count":0,"href":"https:\/\/economicherald.net\/index.php?rest_route=\/wp\/v2\/posts\/3755\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/economicherald.net\/index.php?rest_route=\/wp\/v2\/media\/3756"}],"wp:attachment":[{"href":"https:\/\/economicherald.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3755"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/economicherald.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3755"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/economicherald.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3755"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}