Are you literally eating into your savings?

Ordering food is deliciously convenient, but can come at a cost to your savings if done too often.

That’s the consensus from a rental survey conducted by and Pedestrian.TV, with respondents listing eating out and ordering in as their most common indulgences, as well as splashing cash on alcohol.

They reported these spending habits as their biggest ‘guilty pleasures’, followed closely by fashion and shopping plus travel expenses, which was affecting their ability to own a home – or save towards it.

The responses from this pool of Aussie renters – aged 18 to 39 – seems to be on the money, with the housing and finance sectors warning of ramped up scrutiny on the spending habits of buyers applying for home loans.

Are you literally eating into your savings?

Ordering food is deliciously convenient, but can come at a cost to your savings. Picture: Getty

Interestingly, some survey respondents also expressed passionate views about the ‘biggest misconceptions’ they feel exist around young renters – particularly around the tendency to spend unwisely.

Janelle, 29, in Melbourne, says one of the main stereotypes around young renters is that they’re “all frivolous and we can’t afford to buy homes because we like brunch too much.”

Corey, 31 in Canberra, echoed this sentiment, saying there was an idea that they’re “lazy and waste our money”.

The generalisation of young renters being ‘irresponsible’ was a bugbear for Meredith, 27 in Melbourne, saying a major misconception was that “we are disrespectful of our home and just want to party.”

The survey also showed 79.9% of renters wanted to own a home one day, and only 2 in 5 would consider moving back in with their parents to save for a deposit.

So, perhaps the proof is in the pudding: young renters and aspiring home owners can be two sides of the same coin – and while some are happy to spend and enjoy the lifestyle benefits of mortgage-free living, others are saving towards a home of their own.

The average Aussie renter is predominately female, aged 25-29, with an annual income of $50,000. They mainly live in Sydney (32.8%) and Melbourne (31.1%).

Browse current rental listings and apply for your dream home via 1Form. partnered with Pedestrian.TV for the 2018 Rent Survey, to gain insights from 18 to 39-year-old renters across the country.

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