More than 60 per cent of Australian adults are ditching meat in a bid to save money, new research has found.
According to Compare the Market’s latest survey, released on May 3, Australians are cutting back on a range of items, including; chocolates and lollies, savoury snacks, soft drinks, cleaning products, fruit and vegetables.
Phillip Portman, from Compare the Market, said almost half of Australian adults surveyed said they were forced to cut back on groceries within the last three months to afford their bills.
“We know the cost of groceries, gas, and electricity are all on the rise,” Mr Portman said.
“After 10 consecutive rate rises, mortgage repayments and rental payments have increased for many households.
“So, for many homes, the candle is being burned at both ends, which is why we can see many Aussies ditching meat and sweet treats to save money.”
Mr Portman said there might be more than one reason why 44 per cent of Australians are ditching savoury snacks like chips.
“There’s recently been a national frozen potato chip shortage, so we know when there is limited supply and an increase in demand, prices can increase,” he said.
“So, the increased price for chips could be another factor as to why almost half of Aussies are giving up their savoury snacks like chips.
“While it’s probably good for our health to cut back on chips and soft drink, we don’t want to see Aussies giving up the little luxuries or treats they enjoy to pay the bills.”
Mr Portman said while Australians may be cutting back on ‘bad’ food to pay the bills, they are also cutting back on vital nutrients like vegetables and fruit.
“My advice to that 25 per cent… of Australians giving up or cutting back [on vegetables and fruit] would be to buy frozen fruit and veggies because it can often be cheaper.
“Maybe spend a bit more time looking at the discounts and deals in the supermarket catalogue before you head into the shops. The savings are there if you compare.”
The recent research found that Australians are cutting back on:
Chocolates and lollies (58%)
Savoury snacks (44%)
Soft drinks (43%)
Cleaning products (31%)
Fruit and vegetables (25%)
