Every year the perception seems to be that it gets harder to afford the basics. But are prices really outpacing our incomes? While some prices such as electricity and petrol have certainly shot up in recent years, many other prices have fallen such as televisions or clothing. Could it be that we’re placing greater expectations on ourselves and what our standard of living should be?
This fantastic research by AMP in conjunction with the University of Canberra show us that our clients expectations around ‘Lifestyle Spending’ has increased….so what impact would this have on their ability to save if interest rates started to climb?
AMP.NATSEM Prices These Days research report is attached below.