Ringing Up The Expenses

Did you ever wonder where the household budget goes at the end of each week?

The Australian Bureau of Statistics did and its most recent Household Expenditure Survey reveals that the average Australian household spent $883 per week on goods and services during the 2003-2004 financial year.

Compared with the 1998-1999 financial year we’re spending more on our mobile phone charges (up 183%), interest payments on mortgages (up 47%), education fees (up 41%), child care (up 34%), domestic fuel and power (up 32%) and petrol (up 26%).

Not surprisingly, almost half the money that Australian households spend on goods and services goes on food, housing and transport.

Also, on average, households spent 17% of total goods and services expenditure on food and non-alcoholic beverages ($153 a week), 16% of the total on transport ($139) and 15% on current housing costs, including rent, rates and interest payments on mortgages ($135).