Findings from a recent survey by comparison site, Finder, suggest that Australians are postponing significant life events due to rising living costs. If you are not familiar with Finder, it’s a free comparison site that helps users find the best deals and information on all manner of things. It’s been around since 2006 and claims to have more than four million visitors each month. Its Consumer Sentiment Tracker continuously monitors consumer sentiment in Australia, with topics covered including wealth, happiness, financial sentiment, and environmental awareness.

The headlines about this particular survey of 1,071 respondents have focussed on events and milestones have been delayed because of financial pressures. The question asked was ‘Have you paused any of the following due to the rising cost of living?’.

Almost half of those surveyed – 47 per cent – haven’t halted anything…

The impact of increased living costs is undoubtedly widespread. So, what did the survey find that Australians were putting on hold?

Top score in the survey went to holidays. Thirty-seven per cent of respondents indicated they’d reined in holiday plans.

Next came home upgrades, delayed by sixteen per cent of respondents.

Nine percent had changed their mind about moving out of home.

Six per cent were not progressing their career, which might be a more complex response in reality.

Five percent said they had put off starting a family, four per cent have delayed getting married and three per cent have shied away from sending children to private schools.

Another two per cent cited ‘other’ as their response.

What else could have been added to the list?

The survey was conducted in April 2024, when it’s true that many plans have been put on hold because the rising cost of living has added to financial pressures over the last couple of years.

The advice from Finder personal finance expert, Sarah Megginson, was to focus on building your savings while plans are on hold, with their own research showing that nearly half of all Australians have less than $1,000 in savings.