Why is Australia the most expensive country to live in?
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This morning on the show, Ken and Lucy spoke to budgeting and debt expert, Kris Bondin from Bills to Pay about why our country is so expensive to live in.
It was announced that Australia is one of the most expensive countries in the world to live in according to a survey by Deutsche Bank.
The biggest variable in all this is to do with the strong Australian dollar, when we compare the currency with other economies in the world who are slowing down.
According to the survey, prices have risen by up to 200% for important items we all consume and allocate in our daily budget, the items include bread and petrol.
The most expensive countries were Australia and Japan, while the US and India were countries were products could be purchased at a much cheaper price.
The biggest variance when comparing the cost of products to Australia was the VW motor vehicle, a variance of $8, 000 to $10, 000 when we compare the cost of of purchasing the same model in the UK and the US.
But it’s not just motor vehicles that have a price difference, the other products include mobile phones, clothes, hotels, movie tickets and a haircut.
If you missed the interview this morning, you can catch it below.
Also if you and your family need debt help and guidance saving, contact Bills to Pay today, for a no obligation FREE consultation on 1300 566 729.