The cost-of-living crisis has prompted Queenslanders to adjust their spending habits, with new research suggesting the changes are permanent.
A national YouGov survey, commission by financial institution NGM Group, found 74 percent of Queenslanders had changed how they spend in the past year.
NGM Group Chief Customer and Digital Innovation Officer James Cudmore said almost seven in 10 (69 percent) of those saw those adjustments as permanent.
He said there had been widespread lifestyle resets across the state, with Queenslanders adapting to the cost of living by rethinking priorities and reshaping everyday routines.
“The findings show Queenslanders are making deliberate lifestyle choices.”
Mr Cudmore said many of the shifts were happening in everyday routines, from keeping a closer eye on budgets (50 percent) to choosing more affordable products (58 percent).
He said over two in five Queenslanders noted keeping everyday expenses under control as a priority (44 percent).
“Health and wellbeing (52 percent) is also front of mind, followed by building up savings (32 percent) and spending quality time with family (30 percent).”
Mr Cudmore said the changes were delivering benefits with nearly six in 10 of those who adjusted their approach saying it had improved their quality of life, and four in 10 (42 percent) saying it had helped them feel more in control.
“Almost seven in 10 Queenslanders say the changes they’ve made are permanent – which tells us people are taking a long-term view of how they live and manage their money.
“What’s also clear is the balance people are striking. Health, family and wellbeing are now right alongside everyday cost control when it comes to priorities, showing a really practical and considered approach to life and money.
“And that’s being matched by confidence – four in five Queenslanders feel they can manage financially in the year ahead, which is a really encouraging sign of resilience.”
Mr Cudmore said confidence levels were strong, with 80 percent of Queenslanders saying they felt able to manage financially in the year ahead.
“The data suggests Queenslanders are weighing up their choices more carefully – looking for ways to spend with purpose, protect their financial security and create more balance in their lives.”
He said the research also showed regional living was becoming more attractive, with almost a quarter of Queenslanders (23 percent) saying it feels more appealing than it did a year ago.
