The recently-released inflation figures will have come as no surprise to grey nomads travelling on a tight budget … and who are really feeling the squeeze.
The consumer price index (CPI) hit 5.1% annually and increased by 2.1% compared to the last quarter in December 2021. Fuel prices rose by 11% in the quarter, with the cost of food and other grocery items also surging.
Vegetables were up by 6.6% quarterly, non-durable household items like toilet paper up by 6.7%, and beef up by 7.6%.
Of course, grey nomads out in remote areas already expect to pay a premium for basic goods and services, and soaring inflation is only going to make things significantly worse.
Travellers are having to do their sums. PIC: Ivan Samkov / Pexels.
For some grey nomads that might mean adjusting their spending habits.
“I always like to support rural towns as much as I can and buy food from smaller stores even when it costs a bit more,” said Mark David. “However, I really am noticing a big difference to my budget, especially the fuel costs, and I might have to think about stocking up at big supermarkets in the future to save a penny or two.”
Solo nomad Ross Simon has a pension fund from which he draws $1350 per fortnight as he travels.
“I have found this to be adequate over the last three-plus years, although I also have a back-up kitty of $30,000 to cover unexpected expenses … such as a burnt-out clutch,” he said. “Yes, fuel is dear now but, in the remote areas I go to, it was often dear.”
Like many budget-conscious travellers, Ross says travelling slowly is the real secret to keeping costs down.
“I often stay in places for a week or more and ride my bike around when I’m there,” he said.
Long-term grey nomads, Peter and Judy Hannah, say there are two ways to keep a ‘healthyish’ bank account as you travel … cutting down on costs, and earning an income.
They try to housesit when they can, and also bush camp as much as possible.
“We can carry 300 litres of water, and by scrimping and showering only lightly every two days, we can stay ‘off the grid’ for up to seven days before having to refill our tanks,” said Peter. “Power isn’t an issue when you have solar and lots of batteries and a generator … but fresh water is!”
Look after your nest egg balance, when you are too old mentally or physically to travel you need a considerable deposit to be admitted to a nursing home these days.
86GTS – that comment is not really accurate. Assisted living allows alternatives in their Residential Accommodation Deposits which may or not be required as upfront payments. I always recommend that people access the Aged Care Services website through the Dept. of Human Services and obtain accurate information. I advise them not to rely on “third party” information as it usually comes from a “he said/ she said” situation.