Invest
How are Australians spending stimulus money?
Australians have received an unprecedented amount of cash amid further government stimulus, new research has revealed.
How are Australians spending stimulus money?
Australians have received an unprecedented amount of cash amid further government stimulus, new research has revealed.
A survey in May conducted by the Australian Bureau of Statistics showed that more than 60 per cent of the country was spending on essential items, as well as adding to their savings.
The ABS stats showed one in three Australians were eligible for some government benefit.
Around 42 per cent of people used the support payments to pay household bills while one in three used the money to buy groceries.
A further 20 per cent spent the money on other household items, while 14 per cent used it to make mortgage or rental payments.
The research also found that 29 per cent of Australians saved a portion on their government stimulus.
ABS head of household surveys Michelle Marquardt said the detailed data provided new insights into the economic and social impacts of the pandemic on Australians.
“Women were more likely to have received a stimulus payment than men (36 per cent compared with 27 per cent) and Australians without a non-school qualification were more likely to have received a stimulus payment (41 per cent) than those with a qualification (27 per cent),” she said.
People under 65 years of age were more likely to use the money to pay household bills, mortgages and other debts (47 per cent) as were those who were employed (44 per cent) or unemployed (63 per cent).
The survey also found that the majority of Australians adopted measures to combat the spread of COVID-19, including social distance (95 per cent), cancelling personal gatherings (77 per cent) and avoiding public spaces (75 per cent).
“There were interesting findings comparing the actions of people born overseas and those born in Australia,” Ms Marquardt said.
“People born overseas were more than twice as likely to have worn a face mask at least once in the four weeks before the survey was conducted (42 per cent) than people born in Australia (20 per cent) and to purchase additional medical supplies than those born in Australia (24 per cent compared to 15 per cent).
“Three in five people born overseas (62 per cent) avoided public transport compared to half of those born in Australia (49 per cent).”
About the author
About the author
Spending
Aussie mums want a spa day but will get flowers this Mother’s Day
Australians are set to splash the cash for mum this Mother’s Day, albeit on the wrong gift, new consumer spending data has revealed. ...Read more
Spending
Aussie consumers swap credit for BNPL
Shoppers are continuing to swap credit cards for buy now, pay later service, new consumer debt study has revealed. ...Read more
Spending
What did Aussies spend their super on?
Aussies who took advantage of the controversial early access to super scheme spent the majority of their money on mortgages, rent and household bills, with just one in eight saving their super for a r...Read more
Spending
Consumer spending set to boost economic recovery
Australia’s recovery from the COVID-19 downturn looks to be buoyed by a wave of consumer spending, as Aussies increase their spending habits post-lockdown restrictions, new studies have revealed. ...Read more
Spending
Trans-Tasman border open for the first time in nearly 400 days
Quarantine-free travel between Australia and New Zealand has restarted for the first time in over a year, with the Prime Minister pointing to a further expansion of the bubble. ...Read more
Spending
Google found to ‘partially’ mislead consumers
Google has “partially” misled consumers by collecting some data on Android and Pixel phones even after the customer ticked “No” or “Do not collect”, a court has found. ...Read more
Spending
Energy prices fall – how you can cash in on the $900m saving
Households are being urged to check the price they are paying for electricity after it was revealed that prices across the eastern seaboard have fallen significantly in the back half of 2020, official...Read more
Spending
Aussies choose to shop local in pandemic recovery
Australians are increasingly turning their attention to homegrown businesses and brands as they look to help the country recover from its first economic downturn in nearly three decades, new research ...Read more
Has the property market reached its peak; Biden’s climate summit and our sharemarket, and the upcoming budget
Listen now
Is the market overheating; should ETFs take your fancy, and what’s happening to the low and middle income tax offset?
Listen now
Home values up 30% (or are they); NFTs taking the world by storm, and why Keating thinks Aussies will be ‘poor’ in retirement
Listen now
Raging floods, the tech stock bubble and the ongoing SG debate
Listen now
Spending
Aussie mums want a spa day but will get flowers this Mother’s Day
Australians are set to splash the cash for mum this Mother’s Day, albeit on the wrong gift, new consumer spending data has revealed. ...Read more
Spending
Aussie consumers swap credit for BNPL
Shoppers are continuing to swap credit cards for buy now, pay later service, new consumer debt study has revealed. ...Read more
Spending
What did Aussies spend their super on?
Aussies who took advantage of the controversial early access to super scheme spent the majority of their money on mortgages, rent and household bills, with just one in eight saving their super for a r...Read more
Spending
Consumer spending set to boost economic recovery
Australia’s recovery from the COVID-19 downturn looks to be buoyed by a wave of consumer spending, as Aussies increase their spending habits post-lockdown restrictions, new studies have revealed. ...Read more
Spending
Trans-Tasman border open for the first time in nearly 400 days
Quarantine-free travel between Australia and New Zealand has restarted for the first time in over a year, with the Prime Minister pointing to a further expansion of the bubble. ...Read more
Spending
Google found to ‘partially’ mislead consumers
Google has “partially” misled consumers by collecting some data on Android and Pixel phones even after the customer ticked “No” or “Do not collect”, a court has found. ...Read more
Spending
Energy prices fall – how you can cash in on the $900m saving
Households are being urged to check the price they are paying for electricity after it was revealed that prices across the eastern seaboard have fallen significantly in the back half of 2020, official...Read more
Spending
Aussies choose to shop local in pandemic recovery
Australians are increasingly turning their attention to homegrown businesses and brands as they look to help the country recover from its first economic downturn in nearly three decades, new research ...Read more
More articles
Website Notifications
Get notifications in real-time for staying up to date with content that matters to you.
