State’s biggest spenders revealed in NAB research

HOW much the average Victorian spends each month — and what you pay depending where you live — has been revealed.

THE average Victorian is shelling out more than $2100 a month on key expenses.

Spending data exclusively obtained by the Sunday Herald Sun gives an insight into where our dollars go — and how much you pay depending where you live.

The National Australia Bank research reveals individual customers burned through an average $2112.66 a month during April to June.

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Buying retail goods such as groceries, electronics, hardware and clothes swallowed most of our money, at almost $400 a month.

Real estate and hiring services cost almost $300 on average, while home renovations, maintenance and other construction bills chiselled almost $240 from wallets.

The figures are based on comprehensive NAB customer transaction data including EFTPOS, credit cards, BPay, bank transfers, direct debits and PayPal.

Cash payments and government services, tax, home and other loans are not included.

NAB research monitors spending habits. Picture: Supplied.

The results show:

RESIDENTS from Stonnington ($3618), Bayside ($3413), Boroondara ($3172), Port Phillip ($3100) and Yarra ($2653) were the state’s biggest spenders.

COUNTRY Victorians had the highest electricity, gas and water charges. Those living in the local government areas of Gannawarra ($231), Wellington ($145), Mildura ($129), Moyne ($129) and South Gippsland ($128) had the biggest average monthly spend on utilities.

SPENDING on car and appliance repairs and personal services such as hair dressing and beauty, weight loss fees and funerals was biggest among residents of Mansfield ($139), Stonnington ($115), Boroondara ($109), Nillumbik ($109) and Murrindindi ($103).

PAYING tradies such as plumbers, electricians and painters, and other construction costs, hammered residents of Nillumbik ($374), Banyule ($350), Greater Dandenong ($345), Moonee Valley ($331) and Hobsons Bay ($320) hardest.

ACCOMMODATION and eating at cafes, pubs, restaurants and takeaway outlets, took the biggest bite from customers from Stonnington ($241), Port Phillip ($186), Yarra ($185), Bayside ($183) and Boroondara ($168).

LAWYERS, accountants, vets and other professional, scientific and technical services raked in most from those living in Stonnington ($241), Moyne ($212), Loddon ($197), Melbourne ($193) and Corangamite ($193).

NAB group chief economist Alan Oster said customers with the highest incomes tended to spend most on many categories because they had more money to spare.

Mr Oster said that overall across Australia, there had been a shift away from discretionary spending that was not viewed as necessary.

“Generally what we are finding is that consumers are spending less and less on areas of retail that are not considered essential,” Mr Oster said.

“That’s been happening for the last two to three years now. Wages are not going up very fast at all, people are not feeling as wealthy because house prices are no longer rising, and there has been increasing utilities prices.

“They will pay for a doctor, for their kids to be educated, for petrol because they have to have it.

“But they are not investing as much in things that they don’t think they really need. And they are happier spending on an experience like a coffee at a cafe.

“That will continue until wages get growing again.”

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@KarenCollierHS

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