Household expenditure rises 38 per cent
Householders with credit and debit cards are spending an average of 38 per cent more on goods and services than they did in 2003-04, according to new figures.
Data from the Australian Bureau of Statistics (ABS) revealed that households spent $1,236 every week during 2009-10, up $343 on the amount recorded during the last survey.
Housing costs rose by 55 per cent, while the amount paid for food and alcohol increased by $51, a rise of 34 per cent.
However, while debit card customers may have spent a significantly larger sum last year, the consumer price index revealed that over this period there was only a 19 per cent rise in the cost of items.
The ABS explained that this difference in amount spent and the cost of goods suggests that there has been a "rise in real living standards over the last five years".
Earlier this month, a study conducted by GumTree Australia suggested that Aussies may have more to spend on their debit cards as the average person is selling $2,431 worth of their unwanted items each year.
Have a question about debit cards? Ask the money gurus at Mozo Answers.