Mozo’s Comfort Spending Report 2021

Key facts:
- 1 in 3 Aussies have increased comfort spending since the Covid-19 pandemic began
- Takeaway food was the most common way to spend extra cash
- The average Aussie is spending $2,172 a year on comfort purchases
Baking bread, making frothy coffee and binge watching a documentary about a man and his love for tigers - there’s not much we didn’t do in 2020 to stave off boredom. But according to new Mozo data, we also spent time indulging in a bit of retail therapy.
Mozo analysis shows that 1 in 3 Aussies have increased their comfort spending since the start of the Covid-19 pandemic.
A massive 87% of Aussies admitted that they do comfort spend, with one in five frequently making comfort purchases.
And if that wasn’t frightening enough, a Mozo number crunch found that the average Aussie is dropping $2,172 a year on comfort purchases, nationally that’s a jaw dropping $37,533,391,524!
“Many of us have been cooped up at home and that has led to some sizable comfort spending. One in three people spent more last year on comfort spending than they had ever spent before,” said Mozo Director, Kirsty Lamont.
“It’s no surprise that over half admit that their comfort spending habits put pressure on their budget.”

What is comfort spending exactly? Well, our emotions are involved
Comfort spending refers to buying things to make us feel better, whether it’s a new pair of shoes, our favourite takeaway meal or a new gadget.
Mozo found that one in three people said anxiety and stress was linked to their comfort spending, while a further 16% said they spend money when they had a bad day at work and a considerable 38% comfort spend when they were bored!

Takeaway food (43%) was the most common way Aussies chose to comfort spend in 2020, followed by chocolate (39%) and clothing (38%), which previously held the number one spot in Mozo’s 2019 Comfort Spending Report.
“During a time of limited travel and activities, food was a great way to spice up the week and add some flavour back into monotonous times,” said Lamont.
Shoes was also a hot comfort item, with 20% of Aussies adding a few more pairs to their collection.
Beauty and cosmetics were also a popular comfort spending pick amongst many, at 19% and 15%, respectively.
Other non-popular items purchased were books and literacy, special cheeses and craft supplies.
Males (33%) reportedly spent more alcohol than women (17%), meanwhile females (42%) spent more on chocolate than men (36%).

How Aussies are footing the comfort spend bill
As the Covid-19 pandemic and unemployment spread across the country, many households may have had to rely on their plastic more than normal.
In fact, a concerning 48% confessed to putting their comfort spending on their credit card, while 50% opted for their debit card.
A further 13% dipped into their savings and 10% chose to use a Buy Now, Pay Later service.

When it came down to how much we’re comfort spending, 24% of Aussies are dropping $51 - $100 a month, while 19% are spending $101 - $200 per month.
“Almost half (45%) are putting their comfort purchases on credit cards and a further 13% are dipping into their savings in order to make these purchases. Almost every Australian made at least one comfort purchase last year,” says Lamont.
And while a ‘pick me up’ purchase every now and then can be harmless, Mozo found that more than half of Aussies (53%) say their comfort spending is putting somewhat of a strain on their budget, while 47% believe it has no impact at all.
Yes, emotions have been riding high during a difficult year, but there are ways to stay on top of your spending. We’ve listed them below:
Mozo’s top 4 ways to keep comfort spending under control
- Out of sight, out of mind - Given that a lot of us like to comfort spend when we’re bored, it might be worth removing temptation by unsubscribing from marketing emails you receive from retailers. That way when you’re bored and randomly check your email, you won’t be flooded with invitations to spend.
- Start a savings account for comfort spending - If comfort spending does make you feel better from time to time, set up a savings account dedicated to it. By doing this, you won’t be dipping into regular savings and can stay on track to hit your savings goal.
- Avoid comfort spending with your credit card - There’s nothing worse than paying your credit card balance off on purchases that were made on a whim, especially if you’re paying interest as well. To avoid this sting, opt to only comfort spend with money you already have.
- Try to find an alternative - Comfort spending often comes from intense emotions and the need to feel better. So if you are trying to curb your impulse spending this year, finding a comfort spending alternative could be the way to go. This could mean things like going for a walk, meditation or journaling.
Ready to get yourself set up with a comfort spending savings account? You can compare a range of options by checking out our high interest savings account comparison tool.
Compare high interest savings accounts - last updated 9 December 2023
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Reward Saver Account
5.25% p.a. (for $0 to $1,000,000)
0% p.a.(for $0 and over)
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Intro bonus rate of 5.25% for balances up to $1,000,000 for the first 4 months, reverting to 3.25%. Minimum deposit of $50 and no withdrawals.
Introductory bonus rate for balances up to $1,000,000 for the first 4 months. Minimum deposit of $50 and no withdrawals. Start your account online in under 10 minutes and earn interest on balances up to $1,000,000 (T&Cs apply). No monthly account fees, helping you save smarter and faster.
CompareCompareReward Saver Account
Introductory bonus rate for balances up to $1,000,000 for the first 4 months. Minimum deposit of $50 and no withdrawals. Start your account online in under 10 minutes and earn interest on balances up to $1,000,000 (T&Cs apply). No monthly account fees, helping you save smarter and faster.
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- 5.25% p.a. (for $0 to $1,000,000)
- standard interest rate
- 0% p.a.(for $0 and over)
- Govt Deposit Guarantee
- Yes up to $250,000
- account fee per month
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- Intro bonus rate of 5.25% for balances up to $1,000,000 for the first 4 months, reverting to 3.25%. Minimum deposit of $50 and no withdrawals.
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Read our Mozo Review to learn more about the IMB Bank Reward Saver Account
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Mozo experts choice awards won:
- No Strings Savings - 2023
Savings Account
5.50% p.a. (for $0 to $250,000)
4.75% p.a.(for $0 to $1,000,000)
Yes up to $250,000
Bonus variable rate is available for the first four months.
Competitive introductory variable rate for first 4 months (on deposits up to $250,000). No account keeping fees to pay. Multiple 2023 Mozo Experts Choice Award winner.
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Competitive introductory variable rate for first 4 months (on deposits up to $250,000). No account keeping fees to pay. Multiple 2023 Mozo Experts Choice Award winner.
- Maximum rate
- 5.50% p.a. (for $0 to $250,000)
- standard interest rate
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- Bonus variable rate is available for the first four months.
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Read our Mozo Review to learn more about the Macquarie Savings Account
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Reward Saver
5.25% p.a. (for $0 to $100,000)
0.30% p.a.(for $0 and over)
Yes up to $250,000
Earn a high interest bonus rate if you hold an eligible transaction account and meet the bonus rate conditions (T&Cs apply). Only requires $1 to open. Free e-banking transactions. No monthly service fees to pay. Access your account via e-banking or the Bendigo Bank app. Not applicable to business customers.
CompareCompareReward Saver
Earn a high interest bonus rate if you hold an eligible transaction account and meet the bonus rate conditions (T&Cs apply). Only requires $1 to open. Free e-banking transactions. No monthly service fees to pay. Access your account via e-banking or the Bendigo Bank app. Not applicable to business customers.
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- standard interest rate
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Read our Mozo Review to learn more about the Bendigo Bank Reward Saver
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High Interest Save Account
5.10% p.a. (for $0 to $250,000)
0.10% p.a.(for $0 and over)
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Deposit at least $200 to either Spend or Save account from an external source each month.
No monthly fees on any of your save accounts. Split your money with up to 10 Save accounts. Set savings targets and track the progress of all your Save accounts. Deposits guaranteed up to $250K per customer.
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No monthly fees on any of your save accounts. Split your money with up to 10 Save accounts. Set savings targets and track the progress of all your Save accounts. Deposits guaranteed up to $250K per customer.
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Savings Maximiser
5.50% p.a. (for $0 to $100,000)
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Yes up to $250,000
For customers who have an Orange Everyday account, deposit $1000 into a personal ING account, make 5 eligible transactions and grow their nominated Savings Maximiser account each month.
No ING fees. Great variable rate every month when you grow your balance each month in addition to other eligibility criteria.
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No ING fees. Great variable rate every month when you grow your balance each month in addition to other eligibility criteria.
- Maximum rate
- 5.50% p.a. (for $0 to $100,000)
- standard interest rate
- 0.55% p.a.(for $0 and over)
- Govt Deposit Guarantee
- Yes up to $250,000
- account fee per month
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- Maximum rate conditions
- For customers who deposit $1000 from an external source into a personal ING account (excluding Orange One and Living Super), make 5 eligible transactions and grow their nominated Savings Maximiser account each month so there is more in the account at the end of the month than there was at the start of each month (excluding interest). The total bonus interest rate is available on balances up to $100,000 on one Savings Maximiser the next month after meeting eligibility.
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Read our Mozo Review to learn more about the ING Savings Maximiser
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