Interviewer #1: It turns out West Aussies are really struggling at the moment to pay their mortgage repayments, it turns out that’s the top thing we spend our money on. Followed closely by food, then I was bamboozled by this, recreation is the third thing we spend most of our money on.
And, across the country, a few stats have come out, estimated 19 billion dollars a year Aussies spend on recreation. So, I think we can find better ways to maybe, cut that back, it’s a lot of money every week.
And, so, we are joined by finance expert Chris Browne, us millennials were struggling! Good morning Chris! What’s your first up tip for saving a bit of money?
Chris Browne: Well, the first one is cancel the gym membership. I just find so many millennials have these gym memberships that they NEVER or rarely use and, so many gyms these days have arrangements where you can just pay as you go. So, if you want to do boxercise one-week chuck in $15 and do it and save on the hundreds of dollars you’re currently spending and not taking advantage of.
Interviewer #2: Yeah, good call that’s a good one, casual gym membership. I can get around that, nothing to do with smashed avo on toast mate?
Chris Browne: That should be banned, smashed avo! They cost $2 and then you go to the local brekky joint and they charge you $15, how does that work?
Interviewer #2: Have it at home is what you’re saying?
Chris Browne: 100% and that’s a big one. Also, for the people out there that enjoy a frothy or a glass of wine, if you’re heading out to restaurants just target restaurants that are BYO. That just means that the bill at the end of the meal will be a hell of a lot less.
Interviewer #2: Yeah, great call I’m a big fan of a BYO restaurant. I get around that.
Chris Browne: You get caught on corkage though…
Interviewer #2: That’s a trap for young players right there.
Interviewer #1: But, you get to bring your great bottle of Vino, right? You don’t have to compromise on taste.
Interviewer #2: Or, in my case, you get to bring the budget bin bottle of Vino.
Interviewer #1: And, lastly, I guess one of the areas you’re thinking you can save on. Because you can’t fully cut out spending, the average household spends around $177 a week on recreation. And, we still want to go on holiday so, what are your best tips if you still want to go on a holiday?
Chris Browne: You just can’t cut everything out so, if you still need your holidays every year, your trip over to Bali or wherever. My tips are: Travel off-peak because, we know that if you travel during school holidays accommodation, flight expenses increase by roughly 25%. So, that’s a biggie. Another then also, get on some of these apps! An app that I love using Luxury Escapes, have you guys had a look at that?
Interviewer #2: No, but I will be this afternoon!
Chris Browne: Download it tonight, it’s sensational. You just get to stay in really flash hotels and often they’re discounted by about 50%. So, get onto that one.
Interviewer #2: Well there you go! That has made this little chat with you worthwhile alone, that little top tip right there!
Chris Browne: Awesome!
Interviewer #1: You’re more than just a finance expert this morning Chris!
Chris Browne: Good on you!
Interviewer #2: You’re our travel guide!
Interviewer #1: Travel Genie?
Interviewer #2: The Travel Guru.
Chris Browne: I like Travel Genie!
Interviewer #2: Mate, thanks so much for chatting with us!
Chris Browne: Awesome, cheers guys!
Interviewer #1: Chris Brown there, finance expert getting us better around tips to save money so we can pay off our mortgages.
Interviewer #2: Well, if you can even afford to have a mortgage right…
Interviewer #1: One day, precious one. You’ll get there one day.
Interviewer #2: I don’t think I will, I like smashed avo on toast! I’m allowed to do that and have a mortgage!
This interview first appeared on hit Southwest on the 19 September 2017.