New research has found that 35% of Australians feel pressured to keep up appearances and maintain a certain lifestyle.
Mortgage Choice and CoreData’s Financial Fitness whitepaper explores Australians’ attitudes and behaviours towards their finances.
Mortgage Choice Chief Executive Officer Susan Mitchell says: “We found that Australians are feeling pressured to keep up appearances in order to maintain their lifestyles, which can come at a cost to their financial goals and their health and wellbeing.
“The research revealed that 38% of Australians are choosing to forgo buying their own home in order to keep up appearances.”
A strategic financial plan, which includes a budget and savings regimen, may be the answer to combating the pressure and stress involved with keeping up appearances, Mitchell says.
“While 35% of respondents said they felt pressure to keep up appearances, this surged to almost 50% among respondents aged 30 years and younger. In contrast, only 20% of Australians aged between 51 and 60 felt pressured to keep up appearances.”