Australians to spend big over the Easter break
Almost one in five Aussies will spend more than they earn over the Easter long weekend.
One of the Big Four banks has analysed its customer data to uncover the spending habits for Australians over the Easter long weekend.
Commbank looked at customer data from last year in order to predict our spending this year. The results? We’re about to spend up a storm.
Proving that Easter is one of the most expensive times of the year, the research revealed that two in five (40%) of us spend more than we earn in the week leading up to Easter.
Interestingly only 15% of us spend more than we earn over the four-day Easter break itself, suggesting that it’s the egg shopping and food planning in the week prior that’s the biggest hit to our pay packets.
And if you assumed that with all the shops shut on Good Friday people would be forced to spend less, you’d be very wrong.
“Our data revealed that even though the shops are closed, Aussies will find ways to spend money,” said Pete Steel, executive general manager of digital at Commonwealth Bank.
The bank's data reveals that the proportion of online debit and credit card transactions spikes on Good Friday, jumping from around 30% of all card transactions to about 40% on this one day alone.
The top two things that people were purchasing online on Good Friday last year were music downloads including iTunes and Spotify, and transport such as Uber rides.
Keep in control of your spending this year with the help of finder.com.au’s free budget planner.