Aussies embrace WFH wardrobe, but have we dropped the ball on saving?

Ceyda Erem

Thursday 21 May 2020

When was the last time you put on a pair of jeans? Or something a little more professional than your track pants? If you can’t remember, then it’s safe to say you’ve been working from home for a while. 

And according to Mozo research, you’re not the only one who’s taken a more leisurely approach to their ‘uniform’. 

Following a survey of more than 1,000 Aussies, Mozo data has found that 34% of women were embracing lounge wear as their work wardrobe, compared to only 13% of men. 

Women specifically took things one step further, with a quarter of women confessing they no longer maintain their pre COVID-19 beauty regime. 

“As we head into the colder months, it’s not a bad option to rug-up in comfortable clothing, like track pants, this is a great way to reduce your heatings costs,” said Mozo Director, Kirsty Lamont. 

“As long as you are still productive and working to your full potential, there’s no harm working in your Ugg boots. Going makeup free is a great way to give your skin a break, and it’s also a break on your beauty budget.”

RELATED: The savings accounts and features you’ll need to grow your money during COVID-19

That’s not to say men haven’t been enjoying self isolation, as one in five revealed they have increased their alcohol consumption since lockdown and are spending more money on booze. Baby boomers in particular were the generation consuming the most alcohol, with 30% consuming more than normal. 

Younger generations however are choosing to seek comfort in the form of a four legged friend, as 16% of millennials have bought a pet, which was higher than any other age group. 

RELATED: Ways to avoid being a money waster during lockdown

Mozo’s 3 tips to save money during self isolation 

Since lockdown began many Aussies may have found themselves with a juicer bank balance, as they are no longer having to pay for travel expenses. 

And while there’s no right or wrong way to pass time during self isolation, things can get out of hand if you’re not conscious of your spending. 

To keep you on track, check out our three tips to help save some extra cash:

  • Review your subscriptions - Got a Netflix, Stan and Disney+ subscription? Chances are you’re not using all of them on a regular basis, so you might want to consider cancelling at least one of them. Take it one step further by reviewing your transaction history and look out for any other subscription direct debits you no longer use. 
  • Sleep on it - Let’s face it, we’re all doing a bit more online shopping these days to keep ourselves occupied. But while online shopping can be the perfect cure for boredom, it can also drain your savings. The next time you’re thinking of topping up your virtual cart, do yourself (and your savings account) a favour and sleep on it. Doing this could mean the difference between multiple impulse purchases!  
  • Give your expenses a refresh - Has it been a while since you last looked at your home loan or energy plan? Well what better timing to whip your finances into shape! Dedicate a day to shopping around and comparing offers for all of your household expenses to find out if you could be getting a better deal. Who knows, you could find yourself on the path to a small fortune! 

Need a place to stash your newfound savings? Then make your next stop our savings account comparison tool

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