New study finds Queenslanders are overspending despite cost of living rising

Queenslanders are splurging on day-to-day costs despite the rising cost of living. Here’s where your money is going.

Queenslanders are continuing to spend top dollar and splurge on their day-to-day costs despite the rising cost of living across the country, according to the latest data.

More than 90 per cent of Queenslanders have admitted to overspending when buying both everyday and luxury items despite the cost of living continuing to soar, according to the online deal website Lasoo.

The study found that almost half of all Queenslanders found themselves buying the more expensive option for clothing and accessories, while 18 per cent were more likely to overspend on their vehicles.

Queensland was also the least likely state in the country to settle for bottom shelf liquor and cheap pet supplies with the study finding more than one in five Queenslanders would choose the more expensive liquor option and 18 per cent would splurge on pet supplies.

Ambi Sud loves to spoil her 11-month-old spoodle named Penny, saying there’s a new delivery coming to the house “pretty much every week.”

But with Queenslanders spending more than they should on pet supplies, Ms Spud agreed that some things pet owners buy are “unnecessary.”

“A pet is a constant in your life so I don’t think people would want to downgrade if they’re treating their pet a certain way,” Ms Sud said.

“I’m lucky that I live independently and pay my bills myself, but I didn’t realise how much things cost and it’s not just all the treats and toys and stuff, even just the cost of having a pet.

“Even without all the bells and whistles people buy, they are expensive, which people should keep in mind.

“Some of the stuff that we buy our pets is totally unnecessary.”

Ambi Sud with her Spoodle Peny. Picture: Adam Head

Meanwhile, the study also revealed that 1.5m Queenslanders are still overspending on their groceries despite the latest Grocery Price Index finding a 9.1 per cent price hike in three months for some food items.

It comes after Queensland’s consumer price index reported a 7.3 per cent increase over the year to June 2022.

With mounting cost of living pressures, Rob Draper, CEO of Lasoo said finding the best deal can help Queenslanders save a pretty penny.

“Cost of living has hit Aussies hard this year,” he said.

“Customers should be able to shop with peace of mind that they’re getting the best price possible.”

Where are Queenslanders spending more than they should?

Automotive costs – 18% of Queenslanders

Liquor – 23% of Queenslanders

Pet supplies – 18% of Queenslanders

Clothes and accessories – 44% of Queenslanders