Why so many Australians feel they're not getting ahead financially | 7.30

The share market is NOT the same as the economy, and pointing to technological wealth misses the point, many studies find that wealth inequality is what increases stress and unhappiness not necessarily low wealth in general. The fact of the matter is wealth has been becoming more concentration across the globe including Australia, meaning that the few reap the benefits of the many.

2019: What if there’s a recession?
2020: Allow me to introduce myself.

$10,000 out of pocket for hand surgery. Those are the kind of things you don't realize can pop up on top of trying to pay the mortgage and keep your head above water.

No food at night, only yucky 7/11, no food in pubs, only alcohol. Then when you order food out it's as expensive as cooking at home and when you eat out the food sucks. It's fine if something is expensive if it's got quality but not if it sucks and doesn't make you happy.

Cost of living keeps going up and the fun keeps going down. Boredom is on the rise in Australia.

Don’t get married, have 4 kids and a bunch of debts....

...life is easier when you don’t have to deal with this BS.

This segment was giving out mixed messages

Electricity, gas, water, council rates, rent, cost of housing, taxes, road tolls, food prices, insurance all going up faster than incomes. The government in many cases allows this to happen. Combined with no pay increases and a government cutting transfer payments, no wonder household incomes are flat and people don’t feel richer. Add a recession and it’s a no brainer. The current Federal government can’t even get the rollout of vaccines right so we can start up Universities and tourism. Two of our biggest industries. The also bet on the wrong vaccine and now India is in huge trouble and So so our PM wants to keep the border open for Indian returnees. What could possibly go wrong

The property market is what is keeping people poor. The banks keep dropping interest rates so people can borrow more and more without incomes going up. This behavior is strangling our economy. Wake up people.

This journalism was flawed in its approach and delivery of the issue it's trying to highlight

Katherine and her eldest son look just like some relatives of mine...conversos? Glad to hear AU is having problems like the US (not really glad...)

The dogshit thing about our country is the Government will bleed you dry for your money, they tax you and fine you for everything! That's the issue.

These are the sort of segments on tv current affairs you get when all journalists and producers come from comfortable, private school educated, inner city backgrounds. Nice soothing middle class perspective on everything. Next time, think about interviewing a retail employee who’s working at a 7/11 or an aged care nurse working irregular casual shifts. You’ll see the other side then!

Stockmarket at all time high - yes, that is true, but it is only slightly higher than 2007. The stockmarket has gone nowhere in 14 years.

Businesses need robust business plans lest they fall foul of income-outlay imbalances. If bills are piling up, perhaps consumption is stripping income’s ability to keep pace.

Never been to Australia so cannot comment but the two guys I knew who went to Australia were two Irish , one electrician and one accountant . There were based for few years in the middle of nowhere working for mining companies and they made really big money especially that there was no money to be spent where they were and accommodations was subsidised by their company in a sort of compound.

They are middle class millionaires.

GLA, We are fricking DOOOOOMMMMEEEDD!

They are all wealthy they have their own home! Younger generations won’t get that

Many Australians live beyond their means especially regarding debt. Australia is one the most expensive countries in the world to live its become a paradise for white collar crime with multinationals especially charging more than double the price in Australia for their products than they do in other countries. They donate to the LNP they can get away with anything paying no tax and are the biggest theives of public money in corporate welfare. The solution to try and survive in Australia become a millionaire or a billionaire and the government will bend over frontwards to help you as jobseeker exposed as Scomo and Co gave billions to tax dodging companies with no obligation to pay it back despite the fact many made record profits with the help of the handout. The government increased mutual obligation on the lowest paid people in the country but no mutual obligation on millionaires and billionaires welcome to the land of OZ and don't forget bring your money with ya you'll need it.@$$$$$$$$$$

What a pointless segment, talking about how Australians are struggling and using a family that really isn't as an example...Who ever developed this is VERY out of touch with those struggling.

If you don’t have enough money saved to survive at least six months between jobs or worse put your whole life on credit, how do you sleep at night? Isn’t it stressful? These people could easily save more money, take care of the pennies and the pounds take care of themselves

Last night We went to the footy. We wanted to sit in a function room, wanted to go out for dinner after and get a room in town so that we could go to the casino and go out for breakfast in the morning. Instead we caught the train in, went to the game and went home. Maybe that’s why we have a few bucks in the bank.

living bush as city cost living to high low pension

They are not supposed to get financially. The system is set up by the rich, for the rich.

They are not a typical family. Four kids ,one income

You can feel wealthy if you want to live with less.

Having 4 kids is far too many for a start.

It is not just Australians who feel that way. Canadians, do to. And possibly all over the world. Ppl are earning more but, ppl also have become become very materialistic. Furthermore, the world is is over-populated. It looks like we need to go back to the basics.

Many people have too much expectations, is it really a mental health issue? Money it drives everyone nuts.

Living in a nice house in a desirable area & driving a fancy new car making entry level job income is not sustainable or affordable for most. And you complain about not getting ahead. Stop trying to impress your friends & pretending to be rich. Living a champagne life on a beer budget.

We pay the most for power in the world because the government allow private companies to run it. Petrol ,rent, housing keeps getting more expensive everything goes up and our Aussie dollar has dropped real bad. This government is clearly corrupt they sell all our minerals and gave the people of Australia nothing we are suffering. What a joke

4th industrial evolution [automation]
the universal basic income
new and promising....

What a joke show the real poor people who are surviving on nothing who can't even pay the electricity and gas or water bills disgusting reporting shame on the ABC..

No wage growth and mass immigration obvious connection missed.

I'm unemployed but I am considered "employed" because I volunteer one day per week. Stupid, I know.

The rich people and their government keeps stealing my money and exploiting me.
This program shows rich people complaining of not having more wealth. Disgusting, show us real poor people that represent the actual poor.

As if the Stock Market has anything to do with anything. Share prices mean nothing to most Australians. At what cost is the Stock market doing well and for who.

They are prudent with his money. The wife needs to work any job she can get, shes delaying work till she hits retirement age. She to start pulling her weight around financially. Poor guy he's working his butt off ever since he started work around 30 years ago, and she hasn't been employed since the first kid was born which would be more than 15 years. You can see who has it easy out of the two.

A big, big crack of Australians well-being

Just compare yourself to African people then you will certainly feel blessed and wealthy.

Wages have doubled over the past 15-20 years... thats good, but housing has quaddroopled... thats very bad. So yeah, in short Australians are screwed. They have been going backwards in real terms over the past 20 years. The magic word bandied about by politicans and bankers is "growth" . I don't see any evidence of the real wealth of the average citizen growing in the slightest.

Big house and four children on one wage. Not my definition on poor...

Eight his next recession.... so many people will get wiped out and it will be sad to see people like this old couple as if they are banking on the stock market keeping it will be a huge shock but at least they are aware of it and they should adjust when it happens.

So many things in this video made me sigh deeply smh

How many deadbeats from the 3rd world are you feeding , housing , educating and produce little or nothing.

Hahaha we teach them to be financially smart... get a credit card and always be in debt. 🤦 Bet you that's how Mum lives.🤨

What a pathetic report. Condoms would have cost less than 10 bucks.

How many kids is enough? 1 or 2 makes a lot of sense to me. 4... well, be ready to be poor. ‘Being wealthy is the family unit’ he says, while there’s a 75 inch curved TV in the living room 😂😂🤑🤑 Meanwhile, they are unable to pay their bills on time... absolutely CRIMINAL.

The US war for independence failed, as a silent "paper" coup took place out of the publics sight perpetrated by lobbyists and lawyers, paid for by our oldest enemy, the wealthy elite. This coup allowed the elite to use capitalism to feed their coffers at the expense of humanity and the environment. I would pray for a revolution except that I've seen the brutal face of all idealistic revolutions and the resultant suffering and senseless bloodshed and collateral damages are more than anyone with a heart could ever justify. O come, o come Immanuel, amen.