Growing number of Australians moving to New Zealand

Monday, August 15, 2016


They are calling it a slice of heaven on a budget, with a growing number of Australian families packing their bags for a better life in New Zealand.

For the first time in about a quarter of a century, we have more Australians headed to New Zealand than New Zealanders heading to Australia. We aren't talking about people as retirees or as young people, but in those middle years, those family years and those key employment years, they are the ones making the move across the Tasman and heading to New Zealand.

Most of them are ending up in the Kiwi Capitol, Wellington, where you get much more bang for your buck compared to the much more expensive Auckland.

IT Specialists are in hot demand in New Zealand, and dominate the highest paying jobs. A System’s Architect have a median salary of $125,000 per year. Although an Engineering Manager isn’t all that far behind at $105,000 per year. The lowest paying jobs see Caregivers average $32,000 per year, while an Assistant Store Manager brings in $35,000 per year.

Australians are making the move because of jobs, affordable housing and a better quality of life. For a country that for so long has been tagged as Australia’s little cousin, it appears New Zealand is all grown up.

The cost of work: What we pay to work

Monday, August 17, 2015

The unemployment rate is rising, but so are the costs of work. And while living costs and house prices have been rising faster than wages, the costs associated with work are also on the way up. From toll roads to public transport costs, a simple cup of coffee to updating work clothes. From childcare costs to tax increases, Australians are paying to work.

A recent 2015 McCrindle Research study of over 540 working Australians reveals that income doesn’t just generate wealth, it also consumes it. Australians are forking out more than ever on transport costs, clothing and food while they are working, significantly reducing their take-home pay. Incurring travel costs associated with work, work-related education expenses, child-care costs, and income tax all further reduce a full-time worker’s take-home pay to less than two thirds of their gross salary.

THE LIFESTYLE COSTS OF WORK

95% of working Australians spend their own money on food and beverages during work times, with almost 3 in 4 Australians (74%) purchasing lunch, morning tea, or coffees when at work or when travelling to/from work at least once per week. More than one fifth of Australians (22%) spend their own money on consumable food items every single day while they are at work.

YOUNGER MALES BUY LUNCH MOST

Males tend to eat out more often, with 27% of male employees purchasing food or beverages at least once per day (compared with 16% of females). The frequency at which employees purchase consumables while at work decreases with age. While 78% of Generation Ys and 77% Generation Xs spend their own money on food and beverages at least once per week, this reduces to 60% for the Baby Boomer Generation.

ALMOST $900 ON LUNCHES PER YEAR

The average Australian employee spends $18.52 on lunches, snacks, and beverages during their workday every week. This takes into consideration the 6% of Australians who don’t spend money on food while they are at work, and ranges to include those who go out more than once a day, some of whom spend over $100 on food and beverages while at work each week. Over a 48-week work year, this average weekly spend accumulates to $889 per year.

THE COST OF FASHION

In an effort to keep up with the latest styles and fashions or simply to avoid wearing the same thing every day, employees spend hundreds of dollars on clothing per year. Australians report spending an average of $320 each year of their own money on clothes they require directly for work. This includes employees across all industries and factors into account those who spend very little, having uniforms supplied, as well as those who purchase corporate apparel.

GETTING TO WORK: THE RISING COST OF CARS

After childcare and tax costs, transport is the greatest expense when it comes to work, with the average Australian spending $99.88 each week on work-related petrol costs, tolls, and/or public transport tickets. While public transport cost increases have been modest, the big challenge for workers has been the rising cost of petrol, tolls and car ownership, and this is particularly relevant for the 2 in 3 Australians (65.5%) who travel to work by private vehicle. The average full time worker spends almost $4,800 per year just on getting to and from work.

UPSKILLING, RETRAINING AND KNOWLEDGE-GAINING

30% of working Australians spent their own money last year on education and training directly associated with their line of work, averaging to $1,936. Overall (accounting for the 70% who didn’t spend any of their own money on employment-related learning), the average Australian worker spends $588.60 per annum of their own money on training, and much of this, where it is retraining for a new career or role, is not tax deductable.

THE CHILDCARE COST CHALLENGE

The Productivity Commission Study into childcare shows the median childcare costs are $7.40 per hour ($74 for a 10 hour day). For those requiring full time childcare for 50 hours per week, this would cost them $370 per week which equates to 22% of the average full time weekly earnings.

A TAXING PROBLEM

The current average full time weekly earnings is $1539.40 per week ($80,049 per annum) which brings this average wage into the third tax bracket (a tax rate of 37 cents per dollar). Based on the 2015-2016 tax schedule this average annual earnings package would attract a tax bill of $16,768.

FOR MANY, IT IS MORE THAN HALF

The average full-time Australian worker who earns $80,049 per annum (current full time adult weekly earnings) is spending $889 of that on lunches, $320 on wardrobe changes, $4,794 on transport costs, $587 on education, $17,760 on child-care (based on 70 hours at average costs) and $16,768 on tax (not including tax deductions). These total work costs add up to $41,118, which is 51% of the average annual gross.

FOR MORE INFORMATION:

The Role of Career Practitioners in Our Schools

Tuesday, April 28, 2015

Young Australians today are faced with an increasing challenge to transition successfully from school to further education, training or employment.

Research released today by the Career Industry Council of Australia (CICA) and McCrindle shows that while the most effective forms of career support for a young person is face-to-face contact with qualified career advisors and work experience, time and financial resources available to career practitioners in schools are currently inadequate to equip Australian school students in these capacities.

Cuts to key resources impact career decision-making

Research shows that the three most utilised resources by career practitioners to assist young people in making quality career decisions, including Job Guide, will cease to be produced or be severely diminished by the end of 2016 due to government funding cuts.

Executive Director of CICA, David Carney said “Quality career guidance inspires pupils toward further study, training or employment and enables them to make informed career decisions. It gives them invaluable insight into the world of work and what education and training paths they need to take to achieve their career goals. Contact with career and industry professionals is critical when teaching pupils how to network and open up their options for the future”.


Career practitioners need greater connection with Industry

Changes in technology and in the labour market have produced new vocational options, which, at present, are not well understood by many young people or their classroom teachers, increasing the need for contact with industry professionals.

Australia is approaching the biggest intergenerational employment transition ever and what is needed for students about to commence further study or work, in addition to world’s best education is world’s best careers advice,” says Mark McCrindle, principal of McCrindle. “Today’s school students will have more careers, and complete more courses than any previous generation and so career education in these complex times is more essential than ever.”

Research shows that career advisers need and want greater contact with employers and industry. 76% of career advisers who have been in their role for less than 2 years see industry connections as a critical aspect of enhancing their role.

Industry and schools need to find more innovative ways of developing these educational tools to respond to both the diminishing resources available as well as the limited time and financial resources of career advisors. Over 52% of career practitioners undertake their role part time and more than 4 in 5 (80%) schools have 1 or less fulltime equivalent career practitioners.

Research shows that over the past three years, career practitioners have been 1.75 times more likely to have had their time decreased rather than increased.

In 2014, CICA published a School Career Development Service Benchmark Resource. This resource has been developed for Principals and leadership teams of schools to help them achieve the best value and outcomes from their career development services. For a copy of the benchmark visit www.cica.org.au/quality-benchmarking.

Download the Infographic

Download the Infographic which features the findings of a national survey conducted by CICA of 937 career practitioners working in schools across Australia

For more information

For more information or media commentary, please contact Ashley McKenzie at McCrindle on 02 8824 3422

Australia's Population Growth [In the Media]

Friday, April 10, 2015

Australia is currently the fastest growing developed nation on the planet and by the end of this year we will hit 24 million – twice as many people we had in 1968. For the last decade numerically we’ve had the most growth we’ve ever had and in the next 5 years we will add nearly 2 million people to our population as well as nearly a million households. We’re currently adding a new Adelaide to our population every 3 years! (more than a million people; 355,000 each year).

Click the image below to view social researcher Eliane Miles discuss the topic on Weekend Today

AUSTRALIA’S CAPITAL CITIES SEE THE MOST GROWTH

79% of our country’s population growth is happening across our capital cities. By next year Sydney will win the race to 5 million people, but Melbourne is currently the hotspot of all the capitals with the largest population growth, increasing by 95,700 people each year. Sitting at 4.4 million, Melbourne isn’t far behind Sydney and is on track to overtake Sydney as Australia’s largest city by 2056, when both cities will be home to more than 8 million people.

Yet the fastest growing capital is still Perth, growing at 2.5%, ahead of Darwin and Melbourne at 2.2%.

MIGRATION A POPULATION GROWTH CONTRIBUTER

58% of Australia’s growth comes from net overseas migration, which equates to 240,000 per year, and the remainder from natural increase. Nearly two fifths (38%) of all post 1950 immigrants have arrived since the year 2000, and three fifths (63%) of our migrants come on skilled visas – so there’s a steady stream of highly skilled and hard-working individuals looking to establish their families in Australia.

Victoria leads in terms of interstate migration, while Queensland’s population growth has slowed to its lowest rate in 15 years as has Western Australia – both states due to low net overseas migration over the last year.

THE IMPACTS OF A GROWING AUSTRALIA

With population growth comes increasing diversity, a rich lifestyle, greater entertainment options but also rising house prices, the wait for public services, and of course traffic congestion.

Our households will also look different - by 2020, for the first time in our history the couple only household will be more common than the couple with kids household. The solo person household will move from 23% to 27% by 2020 and will be fast closing in on traditional couple and couple with kids households.

The increase of 175,000 households to our population each year is set to continue over the next 5 years, and we’ll continue to see an increase in the demand for housing across our capital cities, particularly high density housing to accommodate smaller households.

The increase in housing density will mean that the vast expanse of the Australian outback will remain virtually as it is but the major cities will continue to expand, particularly upwards, with more people living in apartments than ever before.

Australia will become even bigger, denser, and more multicultural over the next 5 years. Some ‘Aussie Dreams’ may start to disappear such as the ‘quarter acre block’ and along with it the Hills Hoist garden shed and enough space for a game of backyard cricket. But no doubt new ‘Aussie Dreams’ will come to replace them – it is the Lucky Country after all!

Gen Y Debt Predicament [IN THE MEDIA]

Wednesday, January 07, 2015
More than 1 in 3 (34%) registered debt agreements belong to 25-34 year olds, making Gen Y the  most likely generation to be in debt, compared to Gen X and their Baby Boomer parents.

Much of the blame is placed on easily accessible personal loans, credit card debt and a generation focused on lifestyle pursuits.

However there is more to it than this and it misunderstands the current realities to put all the blame on Generation Y. The fact is that the traditional expense categories such as food, transport, health and housing costs are higher for younger people today compared to that experienced by their parents at the same age. A generation ago the average house price was 5 times annual average earnings while today the average house price is more than 10 times the average annual full time earnings of $72, 000.

Additionally, Generation Y have new categories of expenses that their parents didn’t have such as education debt, mobile phone costs, internet expenses, tablet devices and online subscriptions. Not only are the costs of living higher, but the earnings have not kept pace. For example, when Baby Boomers graduated from university the average graduate starting salary was equal to the average full time adult wage, while today the average graduate starting salary of $52,000 is $20,000 less than average full time earnings.

But the good news is that their parents’ generation, the Baby Boomers, are the highest net worth generation in Australia’s history and over the next two decades almost 3 trillion dollars of private wealth will be transferred (if it’s not spent!) to the emerging generations.

Christmas 2014: Traditional Values and Tight Pockets

Tuesday, November 25, 2014

In the lead up to Christmas, McCrindle Research surveyed 1,024 Australians to discover their views on the religious traditions of the season and their spending intentions for Christmas 2014.

9 in 10 Australian’s think religious traditions of Christmas should be encouraged

From angels and stars featuring on Christmas trees to nativity scenes filling shopping centres and thousands attending Carolling events across the country, it’s hard to ignore the religious traditions and symbols that characterise the Christmas season.

However it would appear that, not only do Aussie’s tolerate these religious traditions, 9 in 10 (92%) think they should be encouraged to have a public presence.


This follows a 2013 study conducted by McCrindle in which almost 8 in 10 (79%) said that Christmas was ‘becoming too commercial and all about getting stuff,’ with the same percentage stating that Christmas has lost some of its Christian meaning. 1 in 2 (49%) indicated they were unhappy about the loss of the Christian meaning associated with this holiday, further reiterated in this year’s research.

2 in 5 (41%) Australians also acknowledge that while we live in a culturally and religiously diverse nation, Christmas and its traditional and religious symbols can be shared by all and so should be encouraged.

Aussie families will seek to save again this Christmas

With the cost of living at a higher rate than ever before, Aussie families will be looking to save money where possible again this Christmas, with twice as many intending to spend less (22%) than more (11%). However, in a sign of slowly returning consumer confidence, two thirds (66%) of Australians plan to spend about the same that they did last year (a figure significantly up from 49% who reported the same thing a year ago).

While Australians still plan on saving, the financial burdens seem to have eased since last year when over a third (33%) planned on spending less, compared to 1 in 5 (22%) that will do the same this Christmas. While this rate peaked last year at 33% Australian’s are now on the recovery path, measured by consumer intention.

Like last year, Gen Y will be the biggest spenders, with 1 in 5 (20%) looking to spend more than they did last year (compared to 12% Gen X, 7% Baby Boomers and just 4% Builders).

How Aussie’s plan to save this Christmas

When asked how Australians plan on saving money this Christmas, the top 10 most featured answers included:

1. Restrict the number of presents for each person

2. Only give presents to children

3. Participate in a Kris Kringle gift-giving exercise

4. Get creative by giving hand-made gifts as presents

5. Avoid unnecessary Christmas purchases

6. Not going overboard with food

7. Do some serious bargain hunting

8. Make the most of Boxing Day sales and buy gifts after Christmas

9. Not travel at Christmas time

10. Host Christmas at someone else’s house


Download the Australian Christmas Attitudes 2014 report. Click here to download the full report.

Paying to work: What's your job costing you?

Monday, July 08, 2013

Paying to workAs the lines between work and personal life blur, many Australians are failing to factor in what it costs them to hold down a job.

A recent McCrindle Research study of over 560 respondents reveals that income doesn’t just generate wealth, it also consumes it. Australians are forking out more than ever on transport costs, clothing, and food while they are working, significantly reducing their take-home pay. Incurring travel costs associated with work, work-related education expenses, child-care costs, and income tax all further reduce a full-time worker’s take-home pay to less than two thirds of their gross salary.

Download the full research summary here.


Going out, and going out often


82% of Australians spend their own money on food and beverages during work times, with almost two thirds of Australians (63%) purchasing lunch, morning tea, or coffees at work or travelling to/from work at least once per week. One fifth of Australians (19%) spend their own money on consumable food items every single day while they are at work.


Gen Ys buy lunch most


Males tend to eat out more often, with 23% of male employees purchasing food or beverages at least once per day (compared with 17% of females). The frequency of which employees purchase consumables while at work decreases with age. While 80% of Generation Ys spend their own money on food and beverages at least once per week, this reduces to 69% of Generation Xs and 49% for the Baby Boomer Generation.


$700 of lunches per year


The average Australian employee spends $15.27 on lunches, snacks, and beverages during their workday every week. This takes into consideration the 18% of Australians who don’t spend money on food while they are at work, and ranges to include those who go out more than once a day, some of whom spend over $100 on food and beverages while at work each week. While many employees do not track this sort of spending, this average accumulates to $733 per 48-week work-year.

“For young people, the lifestyle aspects of work and the social aspects of the workplace and lunch are key elements of the role of work in their lives,” says social researcher Mark McCrindle. “The organisation required in preparing and bringing lunch from home, the availability of the items, and even simple matters like transporting the lunch to work add complexity, leaving many Gen Ys prepared to trade money for time and convenience and buy lunch at work.”


Keeping up with wardrobe changes


With cultural demands strong to keep up with the latest styles and fashions or simply to avoid wearing the same thing every day, employees spend hundreds of dollars on clothing per year. Australians report spending an average of $300 each year on clothes they require directly for work. This includes employees across all industries and factors into account those who spend very little, having uniforms supplied, as well as those who might purchase corporate apparel.


Getting to work - adding up transport costs


Transport is the single greatest expense when it comes to work, with the average Australian spending $43.31 each week on work-related petrol costs, tolls, and/or public transport tickets. In a 48-week work-year this adds up to $2,079 per year or $173.24 each month.

“Australians are attached to their cars,” says McCrindle. “Even though there are cheaper transport options, the convenience, flexibility, and efficiency of using a car to get to work overrides the increased costs. For many, however, there are no viable public transport options, either because of where they live or the timings of their work, or because of the use of their car to drop or pick children up, or working from multiple locations – the car is, for them, essential. However, with good planning and improving public transport nationally, many workers who currently rely on their car could cut back on the use of it by catching public transport, carpooling and sharing costs, or even teleworking from home a day or two per week, thereby producing significant savings over a year.”


Paying to upgrade skills and knowledge


Two fifths of Australians report spending money on education and training directly associated with their line of work, whether through attendance to conferences, university, or further tertiary qualifications. These Australians spend an average of $2,105 each year to access skills and remain current in their areas of expertise.


The hefty child-care bill


The typical out-of-pocket costs of putting one child into long day child care for 50 hours each week is anywhere between 8.2% to 9.4% of a family’s gross annual income. For the average income earner, this equates to $6,084 each year.


...And then of course there's tax


The average full-time worker in Australia earns $72,426 per annum (gross), which falls into a marginal tax rate of 32.5%. With $15,088 of income tax to be paid each year, this average full-time salary leads to an net income of $57,348. Tax rates for many individuals are even higher than this, many paying marginal tax rates of 37% or 45% for their additional earnings.


It all adds up to over a third


The average full-time Australian worker who earns $72,426 per aum is spending $733 of that on lunches, $300 on wardrobe changes, $2,079 on transport costs, $2,105 on education (for the two fifths who are also studying), $6,084 on child-care, and $15,088 on tax.

The average Australian is spending over a third of their gross salary (36%) on work-related costs, but for many Australians this is even more:

“This research shows that holding down a job can be an expensive business,” says McCrindle. “While generally Australians think about their earnings in terms of the headline salary figure, most full-time earners are on a marginal tax rate of more than one third, and with almost 10% going on child-care expenses, and another 5% on work-related, travel, lunches, and work clothes, it’s not unusual for almost half of someone’s salary to be consumed in these costs which wouldn’t apply if they were not working, and for the average worker, none of these areas are tax-deductible.”

“While work-related costs are significant, many are lifestyle additions that aren’t totally necessary, and, as we have found, in most cases the primary motivator for working is not earnings alone, but a sense of contribution, development, and social interaction that comes from work.”

“For those looking to watch their expenses, teleworking holds some answers, with even one day per week working from home on average saving 20% of the food, travel, and childcare costs.”

Sources: McCrindle Research, ABS

Download the full research summary here.

Everyday money saving tips

Wednesday, May 15, 2013

Everyday money saving tips imageAt the beginning of 2013, a McCrindle Research study showed that the rising cost of living was the number one concern for Gen Ys, Gen Xers, and the Baby Boomer Generation across the nation. Four months into the year, a new survey reveals that this is still the front of mind issue for Australians.

What are some ways that you and your family can save your hard-earned money? Through our qualitative analysis, hundreds of Australians wrote to us on the tips and trick they use to save money by changing the way they do food and grocery bills, reduce energy costs, and alter their lifestyle habits.

Click here to download the full report.


Food & groceries


  • Economies of scale:
    Prepare meals in bulk and freeze the leftovers for tomorrow's dinner or lunch at work.
  • Stick to a plan
    Plan out weekly menus and stay to a strict menu only purchasing plan.
  • Bargain hunting:
    Note weekly specials, 'home-brands', seasonal veggies, and stock up on discounted non-perishables.
  • Spreading it out:
    Purchase reduced meat that can be stretched across several meals.
  • Eat at home:
    Avoid eating out, impulse purchases, and shopping when you're hungry.
  • Minimise waste:
    Purchase smaller quantities of fresh food per purchase to avoid wastage.

Utility bills


  • Turn it off:
    Prevent using 'standby' electricity use by switching appliances off at the power point.
  • Recycle:
    Reuse water by collecting rainwater for your garden or using bath water to wash your car.
  • Plan ahead:
    Plan shopping trips to maximize efficiency – plan many errands into one trip.
  • Rug up:
    Keep warm with a jumper or blanket rather than using heating appliances.
  • Full loads only:
    Fill your washing machine completely, and do dishes once per day.
  • Free sun:
    Use the outdoor drying line instead of a clothes dryer.
  • Move your feet:
    Walk or catch public transport instead of driving.

Lifestyle Choices


  • Sweat at home:
    Exercise at home rather than joining a gym by walking, using fitness DVDs or personal exercise equipment
  • Elbow grease it:
    Do your own household duties rather than outsourcing cleaning, garden, and lawn mowing.
  • Invite them around:
    Eat and entertain at home rather than dining out.
  • Take a shortcut:
    Use discount vouchers where possible and seek out affordable specials on leisure activities.
  • Keep it local:
    Take holidays close to home and participate in local activities and attractions.
  • Join the groove:
    Take advantage of free public events and parks to enjoy entertainment and meet friends.

Finance Management 101


  • Stick to it:
    Stick to a strict budget with what gets bought, with more attention paid to necessities and a cut on luxury items and holidays.
  • Adapt your leisure:
    Cut back on leisure activities – spending more time at home or use free entertainment
  • Sale it:
    Seek out sale items and bargain hunting.
  • Increase your pay:
    Seek out a promotion, bonus, new job or extra jobs to pay bills.
  • Downgrade:
    Make downgrades to free up cash by moving from a house to an apartment, changing from private to public school or cutting back to one car.

Cost of Living: Still the Number One Issue

Monday, May 13, 2013

Cost of living: Still the number one issueWith the federal budget on release tomorrow evening, a new McCrindle Research survey reveals that cost of living is still the front of mind issue for Australians. In early 2013, Gen Ys, Gen Xers, and the Baby Boomers across the nation expressed that the rising cost of living was their number one concern (see previous study here), which has held true in our latest research...

Click here to download the PDF.


Overall perceptions from state to state


Interestingly, two thirds of Australians think that the cost of living in their state is much higher or somewhat higher than all the other states and territories. The belief that life is most expensive in one’s own state is highest in Western Australia, where 91% of respondents said their living costs are greater than those in other states and territories (compared to the national average of 69%). Next in line is New South Wales, with 82% of respondents noting the cost of living to be higher in their state than in other states and territories, followed closely by ACT and Tasmania, both at 80%. Queenslanders and South Australians feel they have the best affordability with less than half (46%) saying living costs in their state are higher than elsewhere around the country.


The pressure is on


88% of Australians feel the cost of living pressures are greater today than 5 years ago. While Western Australia had the same percentage as the national average when analysing the increase overall, in the extreme increase category it had the highest response at 63% (compared to the national average of 47%). The strongest response overall was given by South Australians, with 95% feeling an increase in cost of living pressures.


Cost increases just keep going up


Graph: Where have you experienced significant cost increases?

Cost increases have been most felt through utility bills, with 83% of Australians reporting that they have experienced cost increases in their power and gas bills that have had a significant impact on their cost of living. Petrol prices are the next in line, with 77% reporting significant costs, followed by grocery prices – reported to have increased significantly by 74% of the population.

More Tasmanians than other Australians (93%, compared to the national average of 83%) report paying power and gas bills that have increased significantly in price in the last 5 years. In a similar way, respondents from the ACT report high cost increases in the cost of housing over the last 5 years when compared to the other states (78% report that they’ve experienced cost increases that have had a significant impact on their cost of living, compared to the national average of 43%).


The blame game


Who is most responsible for increased cost of living in Australia?

39% of Australians assert that the Federal government is most responsible for increased living costs, with only 1% of the blame directed towards local constituent government bodies. While only 34 % of Generation Ys primarily blame the government for the rise of living costs, that percentage rises to 37% for Gen Xers, 42% for Baby Boomers, and 49% for Builders – blame on the federal government therefore increases with age.

Utility companies are the next in line, with almost a quarter of Australians reporting that water, electricity, and gas companies are to blame. In Tasmania, sentiment towards utility companies is worst – with 40% of Tasmanians reporting that utility companies are to blame (compared to the national average of 24%). Tasmanians also appear to have the best perceptions towards the federal government, with only 13% of them directly placing blame on the federal government.


Everyday shopping changes


Over half of Australians report making significant changes to their shopping patterns over the last 5 years:

  • 59% have changed how much they buy by cutting back on some purchases and not eating as much.

  • 52% of respondents have changed what they buy, buying more private label or supermarket products rather than recognised brands.

  • 51% of respondents have changed where they buy, shopping in cheaper supermarkets and bulk retailers

  • 48% have changed how they buy through online shopping, using discount vouchers, and only buying items on sale


Reducing lifestyle expenditures


In the last 5 years, have you reduced your expenditure on any of the areas listed below?

Over the past five years, Australians have significantly reduced their expenditure on a number of different products and services. Holidays have been the first to go, with 45% of Australians having reduced their costs or eliminated expenditure on holidays altogether. Over one third of Australians have changed their expenditure to subscriptions such as TV, magazines, newspapers, and online services. Over a quarter of Australians have reduced their gym, sports, or club memberships, and reduced the outsourcing of home services.

While the study shows that Australians will readily give up their holidays or paid subscriptions when times get tough, they are less willing or able to cut back when it comes to their children: Only 11% of Australians report making cut-backs on private school fees, tuition, and education expenses, and only 9% have reduced spending on childcare and babysitting services.


Grim economic outlook


There is a fair bit of pessimism among Australians today – 3 out of 4 individuals feel that we are ‘worse now’ economically than we were last year. Out of this group of respondents, 65% hold that Australia will be even worse next year, whereas the rest believe there will be a positive turn-around. Western Australia is the most optimistic state when it comes to economic outlook, with 28% of respondents sensing that Australia is economically better now than last year and will be even better next year (compared to only 13% of the national average who held that same view).

Opinion on the grimness of Australia’s economic outlook increases with age. While only 29% of Generation Ys hold to the matter that Australia is economically worse now than last year and will be even worse next year, 48% of Generation Xers, 57% of Baby Boomers, and 59% of Builders expressed this strong sentiment.

Click here to download the PDF.

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