Money conscious practices are usually targeted towards families who are trying to cut back on spending. However, it’s not just families who are in the money saving game – it’s young people too.
Money, Young People and COVID-19
Before COVID-19 money saving practices were already in play in many households. It’s only been since the pandemic that the topic of debt, economy, and savings have begun to populate news headlines or even general day to day conversations.
But what COVID-19 has also done is highlight how money, and ways to save it, are concerns of even the youngest economic participants of our community – now more so than ever considering that 1 in 3 (28%) young Australians (aged 18-24) found themselves newly unemployed due to the pandemic .
Money and savings however does not just impact those who lost their jobs, but also many others who found their regular hours of work cut.
COVID-19 is most likely going to be around for the foreseeable future, even despite the implementation of a vaccine. This means economic impacts which young people have felt the majority of, are also going to be around for a while as well.
So what are the best ways for young people to get an upper hand on the economic backlashes of COVID-19? We have a solution; and it’s free.
Money saving app - Frugl Grocery
Tackling one of the biggest debt creating aspects of our lives – groceries – our app, Frugl Grocery is helping users save money.
The fact is, groceries are a major part of household spend, equating to an average cost of $6,720 per year . But with Frugl, users can save roughly 10%-30% ($728-$2184) per year by simply comparing prices of their groceries, across the two major retailers Coles and Woolworths, and adjusting their shopping habits accordingly.
But Frugl isn’t just for families, it’s for young people too. And can be a great money savings solution for those needing to alleviate some COVID-19 related economic stress.