Hugh joins Sezen Bakan as he shares some knowledge and tips in The New Daily article, ‘One in five of us feel peer pressure to spend. Here are four tips to help’.
According to The New Daily, one in five Australians have gone into debt or spent more than they can afford to keep up with their friends and family, new Finder research shows.
Centaur Financial Services managing director Hugh Robertson said Australians were being “overly generous” and racking up credit card debt as a result.
Mr Robertson said Australians need to work on breaking the social stigma around talking about money.
He said even though it can be awkward to talk about your finances, other people in your social circle could be struggling to keep up appearances, too.
He suggested using an app to split bills fairly when going out with a group, or asking others to chip in if you’re on the hook to pay for a big event like a buck’s night.
Mr Robertson said allowing room in your budget to treat yourself could help keep you on track – provided you’re spending the money because you really want to do something and not because you have a fear of missing out.
“If there’s an Ed Sheeran concert, and that’s really important to you, great, go do it,” he said.
“But if there’s an Ed Sheeran concert, and you want to listen to Snoop Dogg instead, don’t go for it.”