Aussie mortgage holders face $578 monthly repayment surge amid fresh RBA hike warning

Another interest rate hike could be days away, and it would leave the average Aussie mortgage holder paying a brutal $578 more a month than at the start of the year. But as borrowers brace for another hit, experts are warning one of the biggest budget killers may be far closer to home: Uber Eats, online shopping and other convenience spending quietly chewing through cash each month. A Youi-commissioned survey found the average estimated monthly spend on unnecessary purchases is $165, with about half of respondents admitting they waste at least $100 a month. One in four said they splurge $200 or more, while a massive 93 per cent conceded they waste at least some money every month. MORE NEWS ‘Materially worse’: RBA warns of Cup Day rate hike ‘Criminal’: Aussies blast new $102 turf trend $5bn homes gone: Foreign buyers flood Aus That might not sound like much against the backdrop of a huge mortgage, but the long-term cost can be enormous. A Savvy Finance analysis found putting an extra $165 a month into a $400,000 mortgage at 6.50 per cent per annum could save almost $62,000 in interest and wipe more than three years off the loan. Takeaway dinners, late-night Uber Eats orders and onli...