AUSSIES REGRET SPENDING MONEY AS COST-OF-LIVING PRESSURE BITES

According to the research, 14% of Australians regretted how much they had spent on clothing and footwear

Millions of Australians are experiencing buyer’s remorse as rising living costs force households to rethink everything from fashion splurges to expensive holidays and car purchases.

New research from Finder found more than a third of Australians regret spending too much money on a purchase, equivalent to around 7.7 million people nationwide.

The survey revealed clothing and shoes topped the list of regret purchases, followed closely by cars, holidays and technology.

Fashion regret tops Australia’s spending remorse list

According to the research, 14 per cent of Australians regretted how much they had spent on clothing and footwear, with women more than twice as likely as men to feel fashion remorse.

Cars ranked second at 11 per cent, while one in 10 Australians admitted regretting how much they spent on a holiday.

Technology purchases, including gaming consoles, phones and computers, also featured heavily.

Sarah Megginson said many Australians were struggling with impulse spending during a financially difficult period.

“It’s very easy to justify purchases in the moment, especially when it comes to things like fashion and travel,” she said.

“But over time, those decisions can erode savings and weigh more heavily on people.”

Younger Australians are feeling the pressure most

The findings showed younger Australians were significantly more likely to regret spending decisions, with almost three in five Gen Z respondents admitting to at least one regrettable purchase.

By comparison, only 15 per cent of baby boomers reported similar regret.

Megginson said cost-of-living pressures and elevated interest rates were making spending mistakes feel far more serious.

“Too many Australians are spending money they don’t have just to keep up appearances,” she said.

“And it’s coming back to bite them.”

Holidays and luxury spending are facing greater scrutiny

The research suggests Australians are becoming increasingly cautious about discretionary spending, particularly as travel, dining and lifestyle costs continue climbing.

Interestingly, only five per cent of Australians regretted spending on property, while pets and cosmetic surgery ranked among the least regretted purchases overall.

This probably says something slightly worrying about the emotional support status of labradoodles in modern Australia.