A mortgage broker has claimed there is no such thing as a cost-of-living crisis and argued Australians need to tighten their purses and stop eating out so much.
Damian Medici, 37, claimed those who complain about the cost-of-living crisis are simply in denial about their extravagant lifestyle.
‘Either I’m completely out of touch with what the average Australian is doing, or I’m just an idiot and I’m just going to say how it is,’ he said.
‘I don’t believe there’s a cost-of-living crisis. I think there is a spending crisis, that we don’t know how to control our money, and we blow money up the wall.
‘We spend it on s*** we don’t need, to impress people we don’t like, to do things we don’t value.’
Mr Medici works in Melbourne as a mortgage broker – someone who helps customers find and secure home loans.
He also offers financial advice and commentary on social media, where he frequently critiques common spending habits.
Damian Medici (right) told people to stop ‘complaining’ about the cost-of-living crisis and claimed Australians have a ‘spending crisis’
Mr Medici (pictured) blamed the cost-of-living crisis on people’s denial about their extravagant lifestyles
As an example of overspending, Mr Medici advised people ‘going out for dinner four times a week’ to cut down to once a week.
‘The problem is you’re spending too much money, and that’s the reality,’ he said.
‘Don’t go complaining, no one’s going to save you, no one’s going to come and fix this crisis.
‘The only person that can fix the money that comes in and out of your household is you.’
The blunt rant continued with Mr Medici telling those unable to stay on top of increased costs to stop ‘complaining’.
‘I’m sick and tired of people complaining that I don’t have any money and everything’s more expensive,’ he said.
‘Do something about it, get a second job, ask for a pay rise, start a new business, sell s*** in your house.
‘There are ways that you can make more money. The fact is you’re choosing not to.’
Dozens of Australians slammed Mr Medici’s comments, saying they’re already living without luxuries and struggling to keep up with costs (stock image)
Several commenters were left infuriated by Mr Medici’s video and claimed they’d already cut all luxuries from their lives but were still struggling.
‘Yes you are out of touch. The statistics are incredibly black and white,’ one wrote.
‘Just because it’s not affecting you, doesn’t mean it hasn’t happened.
‘The middle class has been screwed by record levels of inflation coupled with record low wage growth. You can’t ignore these stats. Facts are facts.’
However, Mr Medici doubled down on his stance and replied to several comments.
One commenter wrote: ‘There is a cost-of-living crisis. Groceries, electricity, mortgages, do you not pay these and see it?’
Mr Medici replied: ‘It’s not a crisis. Things have gone up. Do something about it and stop complaining.’
Another commenter said: ’80 per cent of my income is rent and bills and I never go out for food, what do I cut down to become insanely wealthy?’
Mr Medici shot back: ‘Look for ways to earn more.’
Other commenters agreed with Mr Medici and called for more people to confront their bad financial habits.
‘No secret here – spend less than you earn and if you can’t afford it, don’t buy it,’ one wrote.
‘Since Covid people aren’t even willing to work hard to get out of their own situation,’ another said.
‘More people need to start speaking up so that these people understand the problem is them.’
‘I agree. Everyone is in abject poverty until a massive celebrity comes to town and suddenly everyone has thousands of dollars for concert tickets,’ another wrote.
