Australians confess to $1 billion vices
Article by Mozo
Financial comparison website Mozo.com.au has found that Australians are spending $1 billion on vices and the figure is rising.
Mozo launched its Vice Calculator late last year to allow Aussies to measure how much their daily vices be they drinking, shopping, smoking or coffee are costing them.
The $1 billion cost recorded so far represents a range of vices that are hitting people in their pockets, with fashion weighing in as our most-indulged vice at a current tally of $350 million.
Perhaps surprisingly, gadgets rank second at $210 million while booze is a distant third at $95 million.
Rohan Gamble, managing director of Mozo, said: "With this campaign we set out to get some enlightening insights into the spending habits of everyday Australians, but who would have guessed we’ve become a nation of fashionable geeks?
"With most individual vice calculations in the $100s of thousands it will be interesting to see just how many people will be spurred into action and make changes to their spending habits."