It’s true, food and grocery prices have increased up to almost 30% in Australia over the last three years. This increase is not necessarily because of supply and demand issues, or increased utility costs. We understand this because supermarket profits have increased.
Profits are as a result of prices at the checkout. These large chains have an opportunity to increase profits by opening more stores and increasing market share with a growing population. Price escalations, beyond CPI levels are unjustifiable and driven by greed, posing challenges for many individuals.
Housing, including rentals, experienced the most significant increase on the recent quarter's CPI indicator. The overall cost of living in Australia has undeniably soared.
Yes, it sucks, I agree. However, it’s almost daily that I hear people complain about the cost of living who have an opportunity to improve their situation. While some may have avenues to enhance their financial situations, it's important to acknowledge that certain individuals face genuine constraints including seniors, carers, some parents, individuals with special needs, and a range of others.
I’m certainly not saying that we shouldn’t talk about it or have the occasional vent. Not at all. We can continue to invest emotional capital complaining, or we can do something to improve our current situation. I encourage you during hard times to be brave, think differently, and do something.
What I am suggesting is perhaps the cost of living is the reason you have needed all along. You might have been delaying your idea for some time and you are now faced with a reason to jump.
Start that friggin side hustle you have been wanting to do, go and do your barrister course, be relentless for that promotion. You don’t need a stupid MBA or degree to get started. There are so many options for support within our reach to start.
Be selfish with your time, learn to say no, avoid sitting on your hands, and don’t become a victim because of the grocery bill.
If boosting your income isn’t feasible, reevaluate how you can rein in your spending. Temporarily refraining from non-essentials won’t hurt you for a while either.
If you are not willing to do either of above, don’t get caught in the spiral of complaining about it. People seem to enjoy complaining as much as they enjoy doing nothing about their situation.
As an everyday Aussie we can’t do anything about inflation or CPI rates at a macro level. Leave this for the reserve bank and government to resolve and look at what you can control within your own sphere.
I’m not alone when I say people seem to lack grunt these days, people can’t seem to stick with something, and everyone is easily distracted.
We need to change our perspective and be solution focused.
'Grab the bull by its horns, then wipe the snot off its face'
Start with checking your screen time. If it’s 20 hours per week, imagine what you could be doing with at least half of that time. Start with a hobby or something you love doing, then see if you can monetise it. By redirecting a portion of your screen time towards meaningful activities or passions, you can unlock new opportunities for personal growth and financial gain.
Even if making or saving a few $$ is not a priority, at least consider investing the time into something of importance like valuing time with loved ones (or family, health, self-care, etc.).
This is a tough time for everyone and there are obstacles ahead. Fear results in waiting for the next obstacle that comes up to be an excuse. I get it. We are also extremely lucky as there are 2 billion who don’t have access to safe, clean drinking water… Put things into perspective.
I have empathy for everyone, including small business owners, I truly do. And it frustrates me equally, I just don’t agree with ongoing complaining with no intent for action if you are in a position to make incremental changes to improve your situation. I also understand there are variables. It wasn’t that long ago I had family buying nappies for my first-born child as I had no money. My money was keeping a roof over our heads, our staff paid and the business running for the future... and, I still believed I was incredibly lucky.
Don’t even worry about comparison, in fact don’t compare yourself to anyone else. And forget about disappointing your parents, you don't need to do what they had planned for you. Be open minded and consider just because it's scary right now, it might actually be the time to jump. I support anyone having a go.
You only need some momentum. Think of it like a carousel. It’s hard to get going but you will get to a point once momentum builds, you only need to slap that thing as it goes by.
This might be controversial, but it is not my intention to offend anyone. I simply wish to provide an alternative perspective and encourage you or someone you know to jump.
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