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Understanding each other’s spending habits might not be a bad idea, especially if you’re approaching retirement.

 

A study published by Mortgage Choice found that in Australia men believe women are fixated on fashion and beauty, while women believe for men it’s sports, technology and alcohol. Though in reality this isn’t the case.

Australian women aren’t as image-obsessed as men would like you to believe. Data showed women prefer spending their money on socialising, entertainment, and a surprising 42% of women said purchasing home furnishings was their favourite thing to do.

While men were off the mark, so too were the women. Yes, alcohol and sports made it on the list, though it didn’t make the top 3. Surprisingly men and women’s priorities align very closely, with both lists including socialising and entertaining. The only difference for men is, replace home furnishings with electronics.

No matter what your preferences are it’s always good to keep track of your finances. Setting budgets now is good practice for when you plan to retire. This will help you work out what you’ll need to set yourself up for a comfortable lifestyle. If you don’t already have budget planner try the one at moneysmart.gov.au (https://www.moneysmart.gov.au/tools-and-resources/calculators-and-apps/budget-planner)

No matter what stage of life you are at, we offer financial advice and solutions tailored to your needs. We’re always happy to help, check out our sustainable super products here and get in touch with Vision Super today.

 

General Advice Warning
This article includes general information and does not contain any personal advice. It is provided for general information only, to help you understand Vision Super’s products, services, policies and procedures. The information was correct at the time of publication, but may have changed since. It does not take into account your personal objectives, financial situation or needs. You should consider whether it is appropriate for you and your personal circumstances before acting on it and, if necessary, you should seek professional financial advice. Before making a decision to invest in any Vision Super product, you should read the appropriate Vision Super Product Disclosure Statement (PDS). Past performance is not an indication of future performance.
Vision Super Pty Ltd ABN 50 082 924 561, AFSL 225054 RSE Licence L000239 is the Trustee of the Local Authorities Superannuation Fund ABN 24 496 637 884. Level 15, 360 Collins Street, Melbourne VIC 3000. PO Box 18041, Collin Street East VIC 8003.

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