‘How she so broke?’: Savings question exposes Australia

The cost of living crisis is still raging and one employed Aussie has revealed just how much she has tucked away for a rainy day.

In a depressing sign of the times, an employed 21-year-old revealed just how little she had in savings, revealing a grim salary reality.

Coposit St, an app that helps people buy their first homes, has started a popular social media series that hits the streets and asks Aussies how much they have in their savings.

When a young Aussie in a pink dress was stopped and asked about her bank account, she explained she was a receptionist and didn’t have much tucked away.

“Probably about five dollars,” she admitted.

When asked how she felt about the cost of living in Australia right now, she said it was a “bit expensive” but she was managing.

“As long as you work you can kind of maintain, but it is just very expensive at the moment,” she said.

“Not saving earlier would be my biggest regret.”

She was stopped on the streets. Picture: TikTok/CopositSt

She revealed how much she had in savings. Picture: TikTok/CopoistSt

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That clip has amassed over 100,000 views, and one person commented and asked, “How’s she so broke?”

The answer is fairly easy to work out.

Keep in mind that the 21-year-old didn’t reveal her salary, but job search platform SEEK has reported that the average wage for a receptionist varies between $56,000 and $70,000 a year.

In this economy, that wage bracket can be tough because the cost of living right now just keeps surging.

According to the financial comparison website Finder, the average Aussie spends just over $200 a week on groceries, with the average Gen Zer spending $222.

Finder also found that 39 per cent of Aussies say their grocery shopping is causing them financial stress - and it’s no wonder.

Consumer Price Index (CPI) data shows prices rose for 27 out of 30 grocery product categories analysed between September 2023 and 2024.

This means you’re paying around 9.5 per cent more for fruit, 9.4 per cent more for oils, 9 per cent more for eggs, and 8 per cent more for vegetables.

It has gotten to the point where Aussies are now debating if $100,000 is even a good salary anymore.

In August last year, new data from the Australian Bureau of Statistics (ABS) found that the average full-time salary is now $100,017, for the first time ever, without out any bonuses or overtime.

At the time, news.com.au spoke to Luna, 28, who lives in Sydney and earns above $150,000. She shared that she didn’t believe $100,000 was enough to live comfortably in Australia anymore.

“I truly believe $100,000 is the $60,000. You can live off $100,000, but you’re penny-pinching,” she told news.com.au.

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Luna previously told news.com.au her $100,000 thoughts. Picture: Instagram/lunalovekiss_

She argued six figures doesn't go very far anymore. Picture: Instagram/lunalovekiss_

This idea that $100,000 is no longer enough to live on was also enforced when an anonymous member of a Facebook advice group asked what a “comfortable” salary was these days.

She defined comfort as taking an annual holiday, not having to count your groceries and being able to “enjoy” things without having to check your bank balance.

“I’m not looking for crazy numbers from finance people that get a thrill from bank numbers, just comfortableness,” she explained.

The response from Aussies was very revealing.

One woman said that she and her partner brought in a combined $180,000 but still struggled to live comfortably.

“I’d say living comfortably means you own a house and, even with your mortgage repayments, you’d be saving each week,” she said.

Aussies aren’t thriving on $100,000 anymore. Picture: iStock

Another shared that, despite her and her partner earning a combined salary of $250,000, she still wouldn’t say they were “rolling” in it.

“I’m definitely gunning for a pay rise,” she revealed.

Meanwhile, one woman shared that she and her partner had a combined salary of $130,000 and felt like they were just “scraping” by.

A young woman said that when she lived in Brisbane and earned between $80,000 and $90,000, she constantly lived pay-to-pay to cover expenses.

Another woman said it was difficult to get by even though she did not have to factor in rent or mortgage costs.

“My partner makes $130k, and we struggle even with a free home to live in, and we can’t go on holidays every year,” she commented.

So, the fact that a 21-year-old working as a receptionist only has $5 saved shouldn’t really surprise anyone in 2025.