The Struggle of a Woolworths Worker: Juggling Three Jobs and Living on Just $2,000

The Reality of Working Multiple Jobs in Australia

A 25-year-old university student from Sydney has opened up about his financial struggles while working three jobs to meet his living expenses. Stopped on the street by the property app Coposit, he candidly shared that he has only about $2,000 in savings.

The man, who works at Woolworths, also does housekeeping and occasionally takes on shifts with Uber. He explained that these jobs are essential for covering his rent, university fees, and other living expenses. Despite the demanding schedule, he finds each job interesting from different perspectives.

Average Savings of Young Australians

His savings are reflective of broader trends among young Australians. Data from Westpac reveals that customers aged 25 to 29 have a median savings balance of $2,200 with an average of $19,165, highlighting the disparity in savings among different individuals. The median is often a more accurate representation as it is less affected by extreme values.

Here’s a breakdown of the mean and median savings for various age groups:

• 17 and under: Mean $4,769, Median $1,135
• 18 to 24: Mean $13,069, Median $2,410
• 25 to 29: Mean $19,165, Median $2,200
• 30 to 34: Mean $21,394, Median $1,104
• 35 to 44: Mean $29,769, Median $811
• 45 to 54: Mean $52,836, Median $1,429
• 55 to 64: Mean $87,891, Median $5,316
• 65 to 74: Mean $101,004, Median $15,829
• 75 and over: Mean $130,597, Median $31,424

The student expressed that entering the property market is not feasible for him right now but is something he hopes to achieve in the next five to six years.