Under pressure: More Australians are over extending to keep up appearances
As costs continue to mount, more Australians are feeling the weight of expectation to keep spending
1 min
More Australians are living beyond their means in order to keep up appearances, new data has revealed.
A survey by financial comparison site, Finder, has shown 30 percent, or 6.3 million people, have felt pressured into purchasing to keep up with family or friends. The research, which involved surveying 1,062 Australians, also showed 15 percent of people have gone into debt as a result.
The most common sources of over spending people felt pressured into included splitting an expensive restaurant bill despite ordering less (14 percent), taking an expensive holiday (11 percent) and buying tickets to an event (10 percent). However, six percent of Australians had bought a nice car and five percent had bought a house in order to keep pace with others.
Tellingly, the wedding industry made an appearance on the list, with five percent of people pressured into over extending for a bucks or hens night. Three percent reported feeling pressured to pay for someone’s baby shower.
Sarah Megginson, personal finance expert at Finder said ‘comparisonitis’ was exacerbated by social media consumption.
“Never before have we had such an intimate and behind the scenes view into other people’s lives – but it’s important to remember it’s a highlight reel,” Ms Megginson.
“The millionaire next door might be drowning in debt to afford that apparent life of luxury.”
She counselled against falling into the trap of living beyond your means because others appear to have more.
“Getting into debt, ruining personal finances and compromising your values are all very real risks when it comes to trying to keep up with what others have,” she said. “Success isn’t defined by what you have or where you holiday. Focus on future wealth by paying your debt off and dedicating more money to investments and savings than to material possessions.”
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With US$40 million already committed, the Global Talent Fund is attracting investor attention with a strategy focused on building globally scalable consumer brands alongside high-profile talent.
2 min
A new investment fund targeting celebrity-founded consumer brands has secured US$40 million in commitments and is rapidly approaching its US$50 million fundraising target, signalling growing investor appetite for alternative opportunities beyond traditional asset classes.
The Global Talent Fund, which has a maximum raise of US$100 million, focuses on building and investing in consumer businesses alongside celebrities, athletes, and influential personalities who play an active role as co-founders rather than simply endorsing products.
The strategy is based on the belief that changes in consumer behaviour, particularly the rise of social media and digital engagement, have fundamentally altered how brands are built and scaled.
GTF founding partner Jeremy Hunt, who is helping lead the fund’s strategy, said consumers increasingly feel connected to personalities they follow online and are more willing to support products developed by those individuals.
“Consumers are searching for content to engage with, and when a celebrity they like or follow takes them on the journey of creating a product or brand, they genuinely feel part of that process,” he said.
The fund is targeting high-growth consumer sectors including wellness, hydration, beauty and recovery, areas Hunt believes continue to benefit from strong global demand and ongoing innovation.
Rather than backing celebrity endorsement deals, the fund is seeking businesses where talent is deeply involved in product development, brand creation and long-term growth.
According to Hunt, authenticity remains one of the biggest differentiators between successful celebrity-backed brands and those that fail.
“The consumer can see clearly if someone is simply being paid to promote a product,” he said. “The winners are typically the brands where the celebrity has genuinely helped build the business from the ground up.”
The model has attracted support from several prominent Australian investors and business families, reflecting broader interest in alternative investments with global growth potential.
Hunt said consumer brands offered a level of tangibility that many investors found appealing.
“Consumer brands are what we touch, feel, smell and taste every day,” he said. “Our investors understand the growth potential in the model, but they also want to be part of the journey.”
The fund’s rapid progress towards its fundraising target comes amid growing recognition that celebrity influence, when combined with strong commercial execution and scalable business models, can create significant enterprise value.
With several high-profile celebrity-founded businesses generating billion-dollar exits in recent years, supporters of the strategy believe the opportunity remains in its early stages.
For more information, contact marc@kanerbridge.com.au
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