In a viral video on TikTok, the mother opened up about the financial struggles her family of three has been facing. Her family has had to cut corners to make ends meet due to the high cost of living.
In today's economy, many families fall short when faced with high living costs despite having a stable income.
A mother shared her family's journey of surviving on $92,000 a year on TikTok, attracting attention. The mother even sought advice when faced with the challenge of living on a $92,000 annual salary, which left many people astonished
On the TikTok platform, a mother gained attention after sharing the challenges of maintaining their standard of living.
A mother, who goes by @thatmoneymum , shares her family's journey of surviving on $92,000 a year. Despite having an annual household income of around US $92,000 (AU $140,000), they found themselves ‘desperately’ needing to cut corners to make ends meet due to the high cost of living.
A mother shared her experience of a $92,000 income
Talking on TikTok, the woman said her family of three has an annual household income of AU $140,000, or approximately US $92,000. However, she described their situation as a desperate effort to cut corners and make ends meet.
The high cost of living in Australia significantly impacted their financial stability.
The mom admitted in a TikTok post, "It feels embarrassing to admit that six months ago on $140,000 a year, my husband and I were losing money."
She said that AU $140,000 is not a high income in the current Australian economy, necessitating serious changes for their family's well-being.
In the footage, she also revealed that her family needed to make a change for their own sake
They start by differentiating between wants and needs, a concept that the mother believes our generation has been conditioned to ignore.
The mother stressed the importance of tracking spending. They changed their grocery shopping habits to more affordable options.
She said: “We shop at our local market and Aldi and Coles and Woolworths only if we’re desperate".
“The prices at Coles and Woolies are literally out of control. Washing powder at the Reject Shop is the same price that Woolworths has it at half off in terms of retail.”
The video quickly went viral an sparked debate on social media.
In the comments section, many people empathized with the challenges she faces in life. However, some suggested that her family needs to cut unnecessary spending. Others also offered her various ways to survive in the current economy.
Previously, another TikTok user, Nicholas Sumners, expressed similar frustrations in a viral video.
On social media, Nicholas Sumners highlighted the challenge of struggling to live despite earning three times the federal minimum wage.
Despite earning over three times the minimum wage, Sumners claimed that the "American Dream is dead." Earning around $22 per hour, or $3,520 a month, he found it impossible to afford living alone, with one-bedroom apartments costing $1,800 and two-bedroom units at $2,200.
In the footnote, Sumners also admitted the stark contrast between his financial situation and that of his parents. He pointed out that his parents were able to live alone at his age, earning ‘less than half’ of what he makes now.
He shared his frustration in a viral video, stating, “I cannot afford to live anywhere alone,” despite earning around $22 per hour, or $3,520 a month working 40-hour weeks."
Furthermore, he questioned how current housing prices are sustainable for anyone, while acknowledging the common struggles many people face in today’s economy.
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