Aussie mum says she needed to ‘desperately’ cut corners earning $140k a year – but others reckon she’s doing something ‘terribly wrong’

An Australian mother has divided social media by claiming she had to make desperate changes to her household budget to get by on an income of $140,000 a year.

In what she described as a “controversial opinion,” TikToker Lou @thatmoneymum — who describes herself as “Just a mom trying to get by” — posted her advice on the changes she’s made to move her budget forward.

She opened her TikTok by saying, “It feels shameful to admit that my husband and I were losing money by $140,000 a year six months ago.

“The cost of living has really helped us and we desperately needed to make a change for the sake of our family.”

She then listed the “changes we’ve made to start saving again.”

Lou began by suggesting that it is important to distinguish between wants and needs.

“Our generation is, quite frankly, conditioned to buy whenever the need arises,” she said.

She used the example that even though she had wanted to buy double-walled coffee cups for “some time,” she waited until she saw them in a store because they weren’t necessary.

Lou said the most important factor is tracking their spending.

“This was a game changer because it helped us see where we were overspending,” she said.

She created an auto-calculating spreadsheet to help the couple determine where they were overspending.

“We realized that food was a huge problem area for us, so we made some changes.”

Lou now plans their meals and checks their refrigerator to prevent waste.

‘We only shop at our local market and Aldi, Coles and Woolworths when we are desperate. Prices at Coles and Woollies are literally out of control,” she said.

Lou said the regular price of washing powder at The Reject Shop is the same as when it is on sale at half price at Woolies.

Another way she saves money is by buying toys and clothes in stores.

Lou said she is now “obsessed” with Facebook Marketplace and bought a $1,700 Bugaboo stroller for just $200.

Lou said she is now ‘obsessed’ with Facebook Marketplace and will buy a $1,700 Bugaboo for just $200

She ended the TikTok by saying that the couple has “started practicing for the things we do have in life.”

“I have a beautiful son and a beautiful husband, a healthy family and that is more important than anything.”

Reactions to Lou’s TikTok were mixed.

‘I just don’t understand how this is possible. I make about $80,000 and my partner is in medical school. I have to pay her tuition out of pocket every semester, $7,000 and I’m doing just fine,” one TikToker wrote.

“Wow, a double income under 85k makes it possible,” wrote another.

“I’m on a $60,000 income, a single parent with a mortgage, no child support and doing just fine… there’s something terribly wrong when you can afford to live on $140,000.”

Most of the comments on Lou’s TikTok were positive.

‘Good post. Gen X here, I think we spoiled your generation with an immediate reward to make up for what we didn’t have. Well done for changing your mindset.’

‘I like the effort you’re putting in. In the long run this will make a huge difference.’