Newly-released figures from the Australian Bureau of Statistics (ABS) suggest that the average household spends $1236 a week. Where does that money go?
According to the ABS Household Expenditure on Goods and Services review, which covers the 12 months to June 2010, housing is our biggest item of expenditure, covering 18 per cent of total expenditure, followed by food and non-alcoholic beverages (17 per cent) and transport (16 per cent). Collectively, those three items cover half our budget.
Before you start complaining about how expensive life is, consider this: gross household income is up 50 per cent compared to the last similar study for 2003-04. But one notable random stat: pay TV costs are up 95 per cent since 2004.