Why Aussies are swiping right on financial stability


Aussies are looking for financial security in a partner, holidays the next to go as the cost of living bites, and Too Good to Go is coming to Melbourne.

Here are five things you may have missed this week. 

Singles are looking for financial security in a partner

why aussies are swiping right on financial stability

Financial stability is seductive, according to new research from eHarmony.

The online dating platform has found that two-thirds of Aussies want to know a potential partner's financial situation before things get serious.

Nearly half of the platform's users say they are seeking out financially responsible matches, while 82% said they would find credit card debt unfavourable in a potential love interest.

"In the past, couples tended to avoid discussing money during the early stages of dating because it was regarded rude and a bit of a passion-killer," says Sharon Draper, a relationship expert at eharmony.

"Understanding each other's perspectives - and habits - around finances earlier in a relationship can help assess long-term compatibility.

No sign of rental relief 

The rental vacancy rate is 55% below pre-pandemic levels, according to the latest PropTrack Market Insight Report, and remains tighter than it was a year ago. Just 1.08% of rentals are vacant across the capital cities combined, with Adelaide proving the most challenging for renters.

The city's vacancy rate has been less than 1% since September 2021, which is a longer time than in any other capital city.

Brisbane and Perth are also tough for renters, with less than 1% of rental properties vacant in both cities. The national rental vacancy rate did rise a tiny 0.04% over March, but not enough to signal a turnaround anytime soon.

"Renters should expect little respite given vacancy rates remain close to historic lows in most markets," says PropTrack economist Anne Flaherty.

"High levels of migration, primarily focused across Australia's capital cities, have driven increased demand for rentals." Over the past four years, Flaherty says the number of vacant homes has fallen by 58% across the capital cities and by 47% in regional areas.

Aussies cut back holidays to save

Summer in Europe is out, staycations are in, according to new NAB consumer sentiment data.

Aussies saved about $528 a month by postponing, cutting back or outright cancelling planned travel in the first quarter of this year.

The biggest savers are millennials, cutting their travel budgets by a whopping $743 a month.

NAB says the savings are being used to cover essentials, boost offset accounts or pay down mortgages.

"Australians are prioritising essential costs and boosting savings by choosing to postpone, slim down or cancel travel plans this year," says NAB personal everyday banking executive Paul Riley.

One in four Aussies say they will cut back travel expenses in the coming year.

"For some it might mean switching the Amalfi Coast for the Sunshine Coast, for others swapping an interstate break for a city staycation," he says.

"People are making smarter spending changes to manage their budgets in their own way, whether that be scaled-back holidays, less dining out or spending less on entertainment.

Too Good to Go coming to Melbourne

Making a difference and reducing how much you spend on groceries and takeaways can go hand in hand now that the world's largest marketplace for surplus food, Too Good To Go, is coming to Australia.

Initially launching in Melbourne on a date to be advised, the free mobile marketplace will enable retailers, restaurants, bakeries and cafes to sell their surplus food.

On the consumer side, downloading the app will give you access to discounts on everything from takeaway meals to bags of doughnuts, and prevents a whole lot of food from ending up in landfill (Australians waste 312kg of food per capita).

Too Good To Go runs successfully in 17 countries and has 90 million registered users.

Pop-up will writing

Live in NSW and need to update or create a will?

Having an expert write your will has become easier in NSW now that the NSW Trustee and Guardian is setting up short-term pop-up will-writing locations across the state. The process is simple.

Just head to tag.nsw.gov.au, enter your postcode to find your closest office or pop-up location, and book your in-person appointment. Writing a basic will costs $462.

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Joanna Tovia is a freelance journalist. She is the former personal finance editor of The Daily Telegraph and author of Eco-Wise & Wealthy, a book about saving money by going green at home. She has worked as a journalist in the US, UK and Australia writing about money, travel, design and wellbeing. Connect with her on LinkedIn.