The things some Aussies just can’t do without despite high living costs

The Reserve Bank of Australia (RBA) has ratcheted the cash rate up by another 25 basis points and inflation remains stubbornly high. As many Aussies rally to curb spending, some have admitted that there are just some things they can’t do without.

At 4,35%, the cash rate is at a 12-year high and the RBA, in its latest statement on monetary policy, said inflation won’t fall below 3 per cent until the end of 2025. Furthermore, it will remain at 3,5 per cent this time next year.

However despite the high cost of living causing many luxury and necessary items being cut from shrinking budgets, there are just some things people can’t do without.

Taking to Reddit recently, one punter posed the question, “With cost of living through the roof, what’s the one thing you still won’t go without.”

They then added, “For me, it’s Dare Ice Coffee.”

The statement sparked a furious debate about what people can’t live without with coffee, and specifically Dare Ice Coffee, being one of the most popular.

One said, “Mine is dare. It’s very addictive.”

Another added, “I think I’ve had at least 1200 of the damn things.”

“It’s dare for me too since I work early mornings and need the kick. But I have cut back and I get the big bottle instead of the 500ml and split it over two days,” said one more.

While another admitted he had been drinking iced coffee for more than a decade, “At least 1 iced coffee a day for 14 years for me.”

One person lamented how iced coffee had crept into their life, “Managed to lifestyle creep my way into a daily iced latte habit. Goddamn it’s hard to quit and so easy to justify on the spot as ‘it’s just $6 and gives me a small bit of joy in the day’ :’).”

Speaking to Yahoo News, finance expert Effie Zahos, explained that buying a coffee a day won’t break the bank, but a $4.50 coffee every day amounts to $65,700 over 40 years, without taking into account inflation.

Another item on the list of things Aussies can’t go without is luxury toilet paper. 

“The day I buy cheap, scratchy toilet paper is the day I end it all.”

“Three ply TP.”

Beer, wine and good food were also one of the top items people will not skimp on.

“For us, I would say it’s beer & wine and going out for good meals, cooking good meals at home and holidays.”

“Beer. Even if it has to be the cheap stuff from Aldi from time to time. I am considering brewing my own soon too.”

“Red wine & beer, depends on the weather.”

While it is financially responsible to keep an eye on your monthly spend, this does not mean that you can’t still have a a little fun while you’re doing it.

Here are some affordable ways to have fun while on a tight budget: 

1. Find local events, like the bands playing at your local tavern or pub. Check out your local council and the community noticeboards for upcoming events for the public. It could be a movie night or arts festival or a community celebration. Often the cost to attend is low, if not free, and the fun can last for hours!
2. Search for deals, especially when eating out. Some restaurants will offer special meal deals and other promotions for things like birthdays, seniors and other celebrations. Finding these deals are great for having a night out without killing your budget for the rest of the month.
3. Look for the spots that don’t charge admission. Stargazing in your local park, dipping your toes in the water of a nearby beach, finding a secluded walking trail in a national park, or even having a picnic on your front lawn are inexpensive (read: no-cost) ways of getting out and about and enjoying the natural environment around you.
4. Get a bit of culture. Places like your state library, art gallery and museum will often host exhibitions that are free to enjoy for the community. This is especially great if you’re looking for something to do with a group of like-minded friends and/or your grandchildren.
5. Join an online community. When you join an online community centre on your hobby or interest, it becomes a place for you to go to practise and discuss your ideas with others. ‘I Love To Op Shop’ is a great example of the sort of thriving, healthy communities that are waiting online.