Perth, May 25: Millions of Australians are regretting recent purchases, with clothing, cars and holidays among the biggest sources of buyer’s remorse, according to new research by Finder.
A Finder survey of 1,015 Australians found 36 per cent of respondents — equivalent to 7.7 million people — regretted how much they had spent on a purchase.
Clothing and footwear topped the list, with 14 per cent of Australians saying they regretted fashion spending. Women were more than twice as likely as men to regret clothing purchases, at 20 per cent compared with eight per cent.
“It’s very easy to justify purchases in the moment, especially when it comes to things like fashion and travel.
“But over time, those decisions can erode savings and weigh more heavily on people.
“Too many Australians are spending money they don’t have just to keep up appearances – and it’s coming back to bite them, particularly when the cost of living is putting so much pressure on household budgets,” Finder personal finance expert Sarah Megginson said.
Cars were the second-most regretted purchase, with 11 per cent of Australians saying they regretted how much they spent on their vehicle, followed by holidays at 10 per cent and technology purchases at nine per cent.
Jewellery and engagement rings were cited by six per cent of respondents, while property, weddings or celebrations each accounted for five per cent.
Young Australians were the most likely to experience buyer’s remorse, with 58 per cent of gen Z respondents admitting to at least one regrettable purchase, compared with 15 per cent of baby boomers.
“If you’re carrying a credit card balance, tackling it now could stop a bad purchase becoming a long-term burden.
“Small splurges can quietly snowball, so it pays to pause before you tap – and to compare your options on big-ticket buys before you commit,” Megginson said.
Finder said Australians could reduce buyer’s remorse by waiting 48 hours before making non-essential purchases over $100, comparing prices before committing to big-ticket items, and prioritising repayment of credit card debt.
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