According to official statistics on the Uber Eats website, Australia has hit one billion Uber Eats deliveries, with their cravings anywhere from Hot Chips, to Pad Thai, to Garlic Bread!
And this says one thing: that Aussies are addicted to Uber Eats.
A recent report, though, is saying that this is costing them a whopping $65,000, plus two years of mortgage payments! RSF has more!
Is it time to give up Uber Eats?
Uber Eats is being blamed by the media as the top reason why Australians could be shaving years off their mortgages. But, it’s food, right? Basic necessity?
Well, the average Australia is admitting to spending around $165 monthly on unnecessary purchases, including Uber Eats orders, with others even placing that figure at $200 and more. Which is why it is costing them over $65,000.
Sure, food is a basic necessity, and the benefits are there, but mortgage brokers recommend bringing things to balance, not really deleting their Uber Eats app. Whew!
“With cost-of-living creep continuing to keep a tight grip on many Aussies’ finances, it’s important for many to treat themselves every once in a while,” they are saying.
A recent survey found that around half of the respondents are wasting a minimum of $100 monthly, while a quarter is saying their monthly unnecessary spend hit $200 or more.
Regardless of the exact figures, there is 93 percent of Australins admitting they wasted at least some cash each month beyond their much-needed costs of housing, fuel, groceries, bills, and the like.
How about on mortgage?
More on the analysis, if $165 monthly was set aside towards the average owner-occupier mortgage of $731,000, a home owner could save $66,910 in interest across a 25-year term, if the interest was 6.5 per cent. Point well-taken.
In that case, Australians who cut back on relying on Uber Eats can save more to allot to their mortgage, with even $50 a month making a big difference.
If they are able to do that change, for those with an average home loan of $731,000, they would see close to $22,000 in savings, and even seven months wiped off the mortgage repayments.
The experts are warning, though, that this means completely ditching Uber Eats.
“Making non-essential or convenience purchases shouldn’t need to be cut out entirely for most Australians to make a difference on their home loan,” they recommend. “Cutting back on takeaway by half, a third or even a quarter each month where you’re able to do so mightn’t be exactly what you want, but it could deliver savings to the tune of tens of thousands across the life of your mortgage.”
Uber Eats is big in Australia. Uber Eats Australia is Australia’s online food delivery platform by Uber, which is connecting customers with restaurants, cafes, and grocery stores. People can browse menus, place orders, pay electronically, and track deliveries through its mobile app or website. Delivery partners collect orders and transport them to customers, providing convenient access to meals and essentials. Get more food delivery news here on Ridesharingforum.com!