The Sydney worker had an inspiring outlook on the cost-of-living crisis. (Source: TikTok) <\/p>\n
An Australian dad<\/a> has left people inspired after sharing his outlook on the cost-of-living crisis<\/a>. People have been pushed to their financial limits in the past few years due to soaring inflation<\/a>, interest rates and rent prices<\/a>, grocery costs<\/a>, bills and utilities<\/a>, fuel<\/a>, and virtually everything else.<\/p>\n Despite this, a Sydney worker<\/a> is choosing to look on the bright side of life. The 52-year-old said that while money is important<\/a>, it shouldn’t be everything.<\/p>\n “I live from month to month, but I’m very, very pleased to do that. I’ve got no problems not having savings<\/a>,” he told property investment company Coposit.<\/p>\n The bloke works in property services, which he fell into after failing his Year 12 exams.<\/p>\n He said he absolutely loves his job and his tenants, even though he has a massive commute to the office<\/a>.<\/p>\n “We commute to Sydney every day from Wollongong,” he said.<\/p>\n Do you have a story? Email stew.perrie@yahooinc.com<\/strong><\/p>\n “It’s not a burden… two hours from door to door, but you find hope in Audible.com books and good thoughts.<\/p>\n When asked why he thinks people are so concentrated on their savings, he said they don’t have “hope for tomorrow”.<\/p>\n Aussies were blown away by his upbeat attitude.<\/p>\n “Imagine everyone mindsets being like this,” said one person.<\/p>\n “It\u2019s nice to see someone with a positive mindset. I hope he continues to be blessed in life,” added another.<\/p>\n A third wrote: “Humble legend.”<\/p>\n The Sydney man lives with his two adult children, his wife and her sister, which he said helps keep costs low.<\/p>\n “You have to depend on friends and family, and eventually you find your way in life,” he said.<\/p>\n “Cost of living is fine… I’ve got a grown up couple of kids, and I live with extended family, and we all pitch in, and we’re doing okay.”<\/p>\n With the cost-of-living crisis<\/a> gripping people in different ways and some have decided to stay living with their parents into adulthood, or have moved back in with their mum and dads<\/a>.<\/p>\n A Finder survey<\/a> found more than one in 10 Aussies – equivalent to 2.5 million people – had done that latter option in the past year, whether that be with parents or housemates.<\/p>\n Soaring rents was one of the biggest factors contributing to that trend, with 30 per cent citing it as a reason.<\/p>\n Story continues <\/p>\n Another 30 per cent did so because they wanted to save money to buy a home eventually. A further 23 per cent did so to help with caring requirements.<\/p>\n The mean savings amount for a person in this Sydney man’s age bracket, which is 45 to 54, is $52,836.<\/p>\n But there are plenty of people across the country who have next to nothing in their bank accounts.<\/p>\n Compare the Market<\/a> found back in February that one in five Aussies had less than $100 in savings.<\/p>\n Close to 80 per cent said the rising cost of living has impacted their ability to save over the past 12 months.<\/p>\n \u201cIt\u2019s quite a shock to see that so many Australians aren\u2019t able to save or have so little in their savings account, but this is unfortunately a sign of the times,\u201d Compare the Market\u2019s Chris Ford said.<\/p>\n \u201cInflation may be returning to the RBA\u2019s target range, but the reality is it\u2019s going to take some time before our savings accounts catch up.<\/p>\n Prices don\u2019t necessarily go backwards when inflation slows down, and boosting your savings can feel like an uphill battle \u2013 particularly if you\u2019re living paycheque to paycheque.\u201d<\/p>\n Finder\u2019s latest Consumer Sentiment tracker found the average Australian had cash savings<\/a> of $33,345, with men having $42,496 in cash savings and women $23,084.<\/p>\n The average cash savings for Baby Boomers<\/a> was $48,374, Gen X was $39,065, Millennials was $26,008, and Gen Z was $13,218.<\/p>\n Here\u2019s how much the average Australian has in savings by age, with both the mean and median amounts listed:<\/p>\n 17 and under: <\/strong>$4,769 and $1,135<\/p>\n<\/li>\n 18 to 24: <\/strong>$13,069 and $2,410<\/p>\n<\/li>\n 25 to 29: <\/strong>$19,165 and $2,200<\/p>\n<\/li>\n 30 to 34:<\/strong> $21,394 and $1,104<\/p>\n<\/li>\n 35 to 44:<\/strong> $29,769 and $811<\/p>\n<\/li>\n 45 to 54<\/strong>: $52,836 and $1,429<\/p>\n<\/li>\n 55 to 64: <\/strong>$87,891 and $5,316<\/p>\n<\/li>\n 65 to 74:<\/strong> $101,004 and $15,829<\/p>\n<\/li>\n 75 and over:<\/strong> $130,597 and $31,424<\/p>\n<\/li>\n<\/ul>\n Get the latest Yahoo Finance news – follow us on <\/strong>Facebook<\/strong><\/a>, <\/strong>LinkedIn<\/strong><\/a> and <\/strong>Instagram<\/strong><\/a>.<\/strong><\/p>\n \n