Australians are outsourcing their chores and boosting the economy

Paying in cash for your chores

Aussies shouldn’t feel bad for paying for chores their grandparents once did on a day-to-day basis because they’re helping the economy.

New research suggests that the average Australian family spends more than $50,000 a year getting someone else to do their chores, a positive shift away from doing it all ourselves.

A recent report by the Ruthven Institute offered an in-depth analysis of Australia’s $510 billion outsourcing industry. According to Ruthvem, household outsourcing will account for some 2.8 million jobs alone this financial year thanks to the growth and acceptance of the gig economy, along with the accessibility to choose, book and pay through apps.

This is because time is becoming a luxury and more Australians are outsourcing tedious tasks such as grocery shopping, dog walking, cleaning, financing and more in order to use their time more effectively.

“We’re seeing growth in employment in [gig economy]– so there’s genuinely no need to feel guilty over outsourcing – you’re doing the economy a favour,” said economic futurist, Phil Ruthven.

“The number of new online services and apps available to save people time by carrying out common chores for people is growing rapidly, as time becomes an increasingly scarce and precious resource.”

Ruthven Institute is a research firm and online data service.

Outsourcing: how much do we spend?

On average, each Australian household spends 20 percent of their income on goods which are becoming cheaper thanks to rising imports and production efficiencies. Back in 1901, the average Australian household was spending 60 percent of their income on goods, according to the Ruthven report

Now, with more money in their pockets, Australians tend to spend money on more services.

Ruthven Institute Household Outsourcing Graph Family Finances

However, if you feel that you’re spending too much outsourcing your chores, consider putting that $50,000 into a savings account for something grander down the line. Like maybe a downpayment on your future house, so you can have a smaller home loan. Whether it is finding the best saving account or the best home loan interest rate, Mozo can help.