how much does the average australian save

How much does the average Australian save?

With the ever-increasing cost of living in Australia sometimes saving some extra cash can seem like quite the daunting task. Understanding what the right amount to save simply comes down to each individual’s goals in life. Personally, I’d feel anxious if I had less than $30,000 in savings. To me, it seems like the right number just in case things go wrong in life. Thankfully I am doing much better than that but the question is how do you compare and how much does the average Australian save? Well, quite surprisingly more than I initially would have guessed but the average Australian saves $427 a month or just a tad over $5,000 of savings per year.

Sounds a lot in the grand scheme of things but what on earth does $5,000 buy nowadays? Not a lot to be honest but on the brighter side of things we Australians are doing a much finer effort than anyone has done in the last 30 or so a year with saving being at its highest point since the 1980’s. As interest rates dropped from the 1970’s to the 2000’s Australians saw a major decline in savings as they opted to take the option of using someone else’s money, that pesky old credit! By the early 2000’s Australians were barely saving any cash what so ever.

When did this all turn around? Thank the good old global financial crisis of 2007 that sent everyone around the world into a perpetual motion of savings and pulling on the reigns of spending. From that time the savings rate for Australians has hovered around the 12% mark of disposable income. Even though they are busy spending their hard earned cash on avocado toasts and latte’s people between the ages of 25 and 34 are actually the best savers of any demographic. On average those within this age group save around $533 a month. This probably has a lot to do with the average age that kids move out of home is increasing as well.

It is also no surprise that the more money you earn the more you save. With those that earn in the top 20 percent save 15 percent of their disposable income, doubling the median rate of savings. So the question is how do you compare to others when it comes to savings. I know my family is a little higher than that but that’s because I am a massive tight arse and this was only learnt from the lesson of being made redundant close to 6 years ago now. The best life lesson I have gotten so far about respecting the value of money.

10 Practical Tips for Saving Money

  1. Stop buying coffee, you snob. Nescafe went to great efforts into getting to that 43rd blend. Seriously though if you buy coffee every day, you are literally spending $1500 a year on coffee, that’s mental!
  2. How far do you live from work? If you live less than 10 km’s get off your arse buy a pushy and save on the petrol, the parking and road tolls. I have saved thousands over the past couple of years by this one option.
  3. Go vegetarian and eat like someone from the third world. Whilst I am vegan for ethical reasons one of the main wins from this decision was the amount we saved on buying meat. Well if not vegetarian try meat-free days and you will save yourself at least $50 a week.
  4. If you have kids, rather than buying them new toys, join up to a toy library. For a small annual fee, you can take home, in our case 3 to 4 awesome toys a month. So when your young one gets bored and fed up with the toys you just swap them and kapow happy child!
  5. Sell some of the random shit you have around your home. Yes, you might be getting a general trend here, but I am a minimalist. Which means I hardly own anything. I don’t poo poo materialistic things, I just don’t value them. Try selling some of the crap you have lying around the house. The last time we move, we downsized and the stuff we sold paid for our move.
  6. Bring your lunch to work. Don’t buy takeaway at work. It’s such a damn waste. I have gotten my lunch down to an art form where I spend $3 a day. RIght now I spend zero as I am doing the one meal a day diet, but that’s another story.
  7. Change where you shop for groceries, if you have an Aldi near you. Shop there it will save you 20-30% on your grocery bill. Again stop being a snob and save.
  8. Throw dinner parties rather than going out. You’ll save on food and the booze.
  9. Stop drinking soft drinks or any other drink that is not water. Try it for a week drinking nothing but made at home/work coffee and water. You’re guaranteed to save a small fortune.
  10. This is not a savings tip but an earnings one. Try starting a side hustle, something a little on the side. Take for example my wife she has a part-time job, plus she sells flower crowns online at her Etsy shop and online store.

Information Resources

SMH – The average Australian’s savings: how do you compare?

average age of marriage in australia

What is the average age of marriage in Australia?

It has been the bedrock of western civilisation for many centuries, the unity of a couple by marriage. Whilst society has evolved and changed over the years how has this impacted marriage? What is the average age of marriage in Australia? For men it is 29.6 years and for women it is 27.9 years of age, last measured in 2010 according to the ABS.

What is the average age of marriage in Australia compare to 20 years ago?

Compared to twenty years from this last reading in 1990 their has a significant rise in the average age of marriage in Australia for first time marriage. At that time it was 26.5 years of age for men and 24.3 years of age for women an increase of just over 3 years respectively. In saying that the average ague of marriage in Australia has remained fairly stable since the year 2002. The rise in this average age of marriage has a lot to do with external factors such as the average length of time within tertiary education increasing and the the ambition for financial security. As stated by Kylie Dunjey spokeswoman for Relationships Australia states “A lot of them are in long-term relationships, living together under the same roof as their parents, and choosing to make a final commitment of marriage further down the track.”

What has the rise in the average age of marriage in Australia impacted?

As many tend to have children when they are married, this has had a major influence on the birth rates in Australia. The average age of a woman to have her first child has gone up from 27.3 to 28.9 years of age over the 1990 to 2010 period.

In regards to divorces, while the actual number of divorces has increased from 1990 to 2010, the actual divorce rate has dropped over that period from 2.5 per 1,000 to 2.3 per 1,000.

The average cost of a marriage (wedding) in Australia?

I nearly choked when I read that the average cost of a wedding in Australia is now $65,482. The government seems to be a little out of touch on this as their holy grail of money website, Moneysmart is currently quoting that the cost of a wedding is $36,200. These ridiculous cost have definitely bumped due to the trends involved in weddings and the fact that people want to make these events the party to remember. It’s a little bit of an ego trip to see who in the friends and family group who can have the most glamorous wedding.

The tight ass that I am, I was able to produce our wedding for below $6,000, I did have the luxury of having parents in law who owned a country property where we could set it all up at and we invited only the most special people to us. I think it was around 55 people in the end. But each to their own, I know I wanted for me and my wife to enjoy that money on ourselves so we had a massive honeymoon instead.

Who know with passing and legalising of same sex marriage, those average costs may blow out even more! What a boon for the wedding industry, lets the flamboyance begin!

The average cost of a divorce in Australia?

The average cost of divorce com in Australia comes down to two factors. First there is the paper work side of the divorce and that is $550 plus if you have a solicitor do the paperwork for you then factor a further $350-$500. The second factor is the main one and that’s the cost of separation. This is typically what people are asking when they are looking for the answers of how much does a divorce cost.

So unless you’re the person who is possibly going to be on the positive end of a divorce settlement, most solicitors will ask for a deposit of around $2,000 before they even the formalities and sending out letters. From there legal cost range from $330 an hour! So quick settlements and negotiations are always in the interest of your back pocket in the case of reaching a settlement. At the end of the day this question really is like asking how long is a piece of string. The average time most divorces take is typically around three and a half years so do the maths on that.

A pre-nup maybe an awkward discussion to have at the start of a relationship but geez will it save you a lot of time and money in the long run. It’s not too much to ask I think when basically 1 in 3 marriages still end in divorce.

 

 

 


Information Resources

ABS –  Australian Social Trends, March Quarter 2012

News.com.au – Gen Y spends years waiting to meet the right partner or saving up to afford their big day

Wedding Flower Crowns

Canstar – What does a wedding cots?

Moneysmart – How much can a wedding cost?

Divorce Australia – How much is the cost of Divorce in Australia?

How long to drive around Australia

How long does it take to drive around Australia?

Australia is a massive country it measures almost 4,000 kilometres wide and is approximately 3,800 kilometres high. This is from the most northern point to the most southern point of Tasmania (the part most people forget to include in this measurement). How long does it take to drive around Australia you ask? It takes 14 days if you were to take the main highway around the main land, then jump on the ferry to Tasmania and travel from the north to the south of the Island, travelling at approximately 60 kmph it is possible to do it in about half a month. This of course if you are just driving and not really taking any of this beautiful country.

Realistically if you are wanting to take in a lot of the sights and enjoy yourself, a realistic time frame would be minimum six months. To really enjoy the drive its recommended to do it over a 12 month period. Australia is such a large country, full of different terrains, different climates, its almost hard to fathom that this is all in the one country and driving around it in one lap.

The big trip driving around Australia is a long one, here are some tips when planning:

Considering the fact that the total distance around just the main land using National Highway 1 is about 14,500 km’s there is just the whole margin of error and chance of incidents happening on your travels on the road. You also need to factor in the different climates around Australia and when the best time is to drive through certain areas. For example going through the top end of Australia can be quite hazardous and there are huge risks of flooding and you need to plan your drive around this. So if you are planning on making the trip around Australia make sure you factor in at least 1 year to get in all the best sites and enjoy the best of what this beautiful nation has to offer.

Here is a map illustrating the distance it is to travel from all the major points and highways. The big lap around Australia is a fair distance between major cities and you can travel from Melbourne to Sydney to Brisbane and Cairns along the east coast. This is the most commonly travelled part of the big lap. The grey nomads (retired Aussies) are well know to travel this great distance in their caravans in the later years of life.

how long does it take to drive around australia

Image Courtesy of Wicked Walkabout

What is the longest road in Australia?

The longest stretch of road in Australia is on the Eyre Highway on a section between Caiguna and Balladonia. This is considered to be one of the greatest stretches of road to drive on in your car and it one hell of a stretch going for a total of 146 kilometres (91 miles). To be clear this is not just for Australia but it is one of the longest in the whole world. This part of the Eyre Highway is affectionately known as the “90 Mile Straight“.

Driving around Australia on a budget

As part of your planning for your big trip around Australia, you should consider the costs of driving around Australia. The Swiss Nomads have a great summary of their travels around Australia. For their travels while they budgeted 146 Aussie dollars a day they ended up only spending $82 a day in the first half of their trip cost them just over $13,000 for the first six months of their big trip around Australia.

Their full year, in the end, did cost them a total of around $33,000 amazingly this included their airfare travels from Switzerland to Australia and their investment in the car they would use on their travels. To do be able to do such a trip over a full year they claim there is only one way of doing it. In a car with camping gear, as the camping gear reduces accommodation costs (expensive in Australia).

Their two largest costs on the trip were Food and Drink which added up to nearly $7k and next was the fuel costs of just over $6k. Sounds like a lot of money and while petrol is fairly expensive in Australia they did drive 34,000 kilometres in one year.

 


Information Resources

Outback Crossing – How Long Does it Take to Travel Around Australia?

Wikipedia –  Highway 1 (Australia)

Copy of Copy of Copy of living off the land

What can we do about global warming?

It is the greatest problem facing our planet today. Amazingly still being ignored by many but you’re in a good place you’re curiosity and want to make change for the future of our species is a great start. Sometimes it can feel like a problem too hard to rectify and when we are faced with such situations as people, sometimes people shut off to the idea of making positive change for the greater good of mankind. It all just seem to much, but what can we do about global warming? (Please note that that global warming should be referred to as Climate Change)

What can we do about global warming (Climate Change) – 4 Simple Ideas

1. Self Accountability – being accountable for your own actions and not pointing the finger at the majority

This question was posed in a sense of what can ‘we’ do, but it should be framed, what can I do? For too long have we as a people relied on the likes of government regulation to make progress to making the way we live more environmentally friendly. While we can push for industry change for things such as fossil fuels to be minimised, we need to think about how our own carbon footprint contributes, not just services we use such as electricity. So the first thing I believe is self-accountability, we need to figure out first and foremost what can we do. Leading by example can help others make the small changes they need to make to make this world a much more liveable place for the generations ahead.

2. Fossil Fuels – Move away from fossil fuels including minimising personal use of cars

Where possible when choosing your energy suppliers make sure you choose ones which source their energy predominantly from sustainable and renewable sources. When making decisions to travel around town for work or for pleasure, remember we all have our own little fossil fuel burning machines known as cars. So if you can do things like ride a push bike to work or choose public transport, the ethical thing to do is make those positive choices. Yes, they are not the most convenient things to do, but it is definitely the right thing to do. Personally, i rarely use my own vehicle, my family made the choice to live inner city and rent out our suburban home so that we were in walking distance to most amenities and supermarkets and bonus found a job within a 30-minute walk from home. Now, thats the perfect situation and understand it’s not so simple for all, but every little bit counts.

3. Eating Habits – eliminate or reduce meat & dairy consumption

I was amazed when I found out the reality behind the livestock farming industry and how polluting it was. It’s not something people really talk about as it somewhat of a protected industry, but it’s time people were made aware of the corrosive and polluting nature of animal farming. There have been estimates made that livestock industry is responsible for 18% of greenhouse gas emissions, which is higher than all transportation exhaust at 13%. The documentary which made we aware of such hidden secrets and facts was Cowspiracy a documentary that bound to make you think about your consumptions habits. Sounds ridiculous right? Think about how many animals are raised for food, consider growing feed for all these animals, consider moving all these animals around, consider the waste product of these animals. The more you think about it, it makes a whole load of sense. I personally choose a plant-based diet on the ethical environmental concerns of the livestock industry, but simple things such as meat-free Mondays and reducing meat consumption are always going to be a great choice for the planet.

4. Stop Buying Plastic Bottled Products

Whats the problem with plastic bottles, we can recycle them, right? Well yeah, that’s true but unfortunately, only 1 in 4 bottles end up being recycled, what an alarming fact that is! The amount of recyclable products that ends up in a landfill and more disturbingly in the ocean is ridiculously confronting. Rough estimates state that are are over 5 trillion pieces of plastic in the ocean now. While that is obviously the side-effect of using plastic, the other unspoken part of plastic is its resource intensive creation. If you are unaware a majority of plastic is made from non-renewable petroleum and this resource extraction leaves a massive carbon footprint. The processing of liquids that end up in plastic bottles is also resource intensive. Take bottled water, it takes 3 litres of water to create 1 litre of finished product. Amazingly you can get that water for a micro fraction of the cost from your own tap, and it is equal if not better than bottled water. You probably only have a different perception of bottled water because of the stimitastion from massive corporations who only gain from you buying these highly polluting products. If you are still concerned, whilst not required in Australia, you can buy water filtration systems that are very cost effective.


Information Resources

Cowspiracy – FACTS

Ocean Crusaders – Plastic Statistics

Green Lifestyle Mag – Disposable drink bottles: Plastic vs glass vs aluminium 

how many pints in a keg

Have you ever wondered how many pints in a keg in Australia?

As the beer loving nation that we are in Australia, I’m surprised that the knowledge of how many pints in a keg isn’t common knowledge. Well, the surprising fact here is that a commercial sized beer keg has 49.5 litres (Australian standard beer keg size) so with the knowledge of the standard pint size being 568ml, doing some simple maths, you will find out that there are approximately 87 pints in a keg. That’s a whole load of pints of beer!

How may pints in a keg vs other drinking sizes

Now for those of you who don’t just drink the old pint size, you may be interested in finding out how a keg translates to other drinking sizes.

How many schooners in a keg you ask? There are 120 beer schooners (425ml) per keg.

How many stubbies in a keg you ask? There are 145 beer stubbies (345ml) in a keg.

How many jugs in a keg you ask? There are 45 beer jugs (1140ml) per keg.

How to figure out how many kegs you will need:

But you’re probably wondering these numbers because you are throwing a party of some kind and you are looking to order in a few kegs for this party. Are you trying to figure out how many beer kegs to order? Well, why not try a bit of guestimating.

Pick a number of drinks you might think people will drink at this event of yours. Let’s say for example sake its going to be 6 pints each. You are going to have 50 people at your event. So that means you would need to have approximately 300 pints of beer. So that means you need to divide the total pints by the number of pints per keg. In this case that would make it 300 (total pints) divided by 87 (pints per keg). That means you would need 3.4 kegs and rounding up that would take you to 4 kegs to have more than enough to cater for the needs of your event.

So now you know how many kegs you need, we wish you a happy time!

How long does a keg last after you tap it?

Well this definitely depends on the type of beet that is in the keg, there really is no set answer to this question. You will find different answers across the web and even if you ask different experts they will give you different answers. With the research that I have done you will find that a keg will last anywhere between 20 and 120 days, which is quite the range but as mentioned it does depend on a lot of factors. Typically you can taste when your beer is starting to go stale.


Information Resources

Only Melbourne – Beer Glass Sizes

Kegs Off Tap – FAQ

How much water does a shower use

How much water does a shower use in Australia?

In our ever growing knowledge around water and conservation, knowing how much water does a shower use, is one of the things that will allow you to be a better global citizen. On average older style, showerheads can use anywhere between 15-20 litres per minute. So a 15-minute shower will use approximately 300 litres of water or over 100,000 litres of water per year per person.

How much water does a shower use depends on your equipment

It is actually quite amazing when you realise how much water a shower can actually use, but the above figure is based on old inefficient shower heads and all new establishments have minimum efficiency ratings. A three-star showerhead will cut your water usage in half to around 9 litres of water per minute. That in effect would save around 50,000 litres of water per year per person.

The truth of the matter is that bathroom in general is an extremely water intensive room, especially the toilet. When you think about the clean drinking water that we flush down the toilet everyday, it seems kind of crazy. These are the privileges we do have living in such a great nation, but these are also the things we should consider when being good global citizens.

 

How much water do you use in a 5 minute shower?

At the rates mentioned above a 5 minute shower would use around 100 litres of water.

How much water do you use in a 10 minute shower?

To figure this out we just double the amount you would use in 5 mins so the number would be around 200 litres of water.

How much water do you use in a 15 minute shower?

If we keep following the rules from above a 15 minute shower will use approximately 300 litres of water.

 

Tips to reduce water use in the shower

  • First and foremost update your showerhead, get the best water efficient shower head to save what you can.
  • Try taking shorter showers. Invest in a shower timer to help monitor how long you shower for.
  • Try collecting water in a bucket while you wait for the shower to heat up.
  • For those that shave their legs, try doing so beforehand and not in the shower.
  • When upgrading your hot water system next, consider investing in an instant hot water system which will prevent wastage when waiting for the water to heat up.

How much water does a low flow shower head save

You want to reduce your water usage so you have decided that you want to install a low flow shower head. The question is how much water does a low flow shower head save? Well according to the stats you will dramatically reduce the amount of water you use. In fact the chances are you will halve your water use if you install a low flow shower head. Your usage will drop from around 20 litres per minute on a traditional or old shower head to around 10 litres per minute.

So if you were to say have a 10 minute shower per day over one full year you would save 36,500 litres of water per year. This number is quite staggering when you think about it. The question is what do you lose? Well obviously the opulence of having that strong flow of water. I guess the question you need to ask yourself is whether or not you would like to choose the indulgence or would you like to be more resourceful and save money. The reality is the usage rate of water is actually rather cheap at $0.002 per litre, so in actual fact you would only really save about $90 a year. The point is not about saving money though it is about using less water and I guess that’s why you are here.

Here are some low show heads you could buy directly from Amazon:


 

 


Information Resources

Hunter Water: Save Water

Australian Government: Water Efficiency

Low Flow Shower Head