These are Australia’s biggest money wasters
Balancing a budget in today’s expensive world isn’t easy (especially when you’re on a fixed income), but even so, sometimes when it comes to saving we’re our own worst enemy.
New research from financial comparison site Mozo has showed just how bad we can be, highlighting the 10 biggest money wasters that are chewing into Aussie family budgets.
Tobacco is the main offender when it comes to unnecessary expense, with the average household spending an extra $1,734 per year. Food waste comes in second, with gambling, credit card interest and bank fees rounding out the top five.
Household energy waste, traffic fines, ATM fees, clothing and unused gift cards were also on the list, with the average Australian spending $1,922 on unnecessary expenses.
“Review your purchasing habits, take note of food or clothing that you might discard and study your household bills. A few small changes can result in major savings,” said Mozo Director Kirsty Lamont.
Are you wasting money on unnecessary expenses?
Visit the Over60 Comparison Tables section to see how you can get a better deal on expenses like credit cards, car loans and home loans.