Author: Meg Elkins, Senior Lecturer, School of Economics, Finance and Marketing and Behavioural Business Lab Member, RMIT University

Remember when grabbing a coffee was just… grabbing a coffee? When a parma at the local was a budget meal? When Friday night takeaway was a reward for getting through the week? It didn’t require a financial spread sheet. For many families navigating the cost-of-living crisis these small indulgences now have to be accounted for. They’re not just automatic purchases. We’re not just cutting back on buying large discretionary items, like new cars. The impact of inflation on household budgets has fundamentally reshaped our relationship with food, social connection and small pleasures. The current cost-of-living crisis can also create new…