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[Jimmy-T]

NEWS: Back when DJs meant dinner jackets or David Jones department store, you saved for a deposit. Now banks want to know what you’re spending.

[See the full post at: Avo toasted! Banks are watching your spending]

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[Strata Ken]

I wonder if smashed avo is and similar is the sort of thing that would concern them. Say that someone gets that or an egg and bacon roll each morning for breakfast, they can easily replace it with something made at home which is probably healthier. The real problem is the things they can’t stop paying money for, like the tolls that they need because they have to take a car to work. Plus the car servicing and insurance. I suspect that the banks are getting worried because they may have significant numbers in negative equity when the inevitable recession happens, especially when you add in the costs of getting people out of their houses.

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[Jimmy-T]

The smashed avo is symbolic rather than economic (and a rather tired cliche, I have to confess).  The point is, what are you spending your disposable income on?  And if you are eating out when you could be eating in, and still struggling with the non-discretionary elements of your cost of living like tolls, insurance and petrol, the banks may rack that up alongside visits to the movies, TV streaming subscriptions, disposable fashion, visits to Dan Murphy’s and your new golf clubs – the things that make life worth living – as signs that you can’t manage your finances and are then more likely to default on your mortgage than thriftier borrowers.

I’m not saying they’re right, but I can see their narrow logic.

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