BUDG029 You can break the pay-to-pay cycle (578 words)

An alarming number of Australians are living paycheque-to-paycheque. This article explains how poor money management leads to cashflow issues and provides advice on how to break the pay-to-pay cycle and get your finances under control.

Now and then, Jodi borrowed $100 from her parents. She’s good for it, and always paid it back, but her situation was not uncommon.

5.9 million Australians live pay-to-pay

A study by Deloitte between November 2021 and January 2022, surveyed over 14,000 Millennials (born 1983 – 1994) and Gen Zs (born 1995 – 2003) worldwide.

The results were alarming: over 30% of respondents indicated that they did not feel financially secure, while 47% of millennials and 46% of Gen Zs lived paycheque-to-paycheque.