It’s a familiar feeling. Pay day is looming, and you’re wondering how you’ll make ends meet until your earnings hit your account. You swore you’d tighten your belt this month, but you still can’t figure out where last month’s paycheque went. It doesn’t feel like you’ve done anything out of the ordinary, so what have you been spending your money on? According to new research from the Australian Bureau of Statistics (ABS), your appetite for convenient meals may be to blame.

With all the media buzz about rising prices, you might think energy bills are eating away your income. However, the ABS study shows Australian households are spending much more on restaurant and takeaway meals than gas and electricity. Our mealtime cravings cost us around $95.05 every week, three times the average national spend on electricity ($35.05). Sydneysiders are indulging more than people in other capital cities, spending roughly $112.80 each week on restaurant and takeaway food.

Our spending on these culinary indulges has also increased with the rise of food delivery services like Menulog, UberEats, and Deliveroo. Aussies who use these services typically use them every week, for a total national spend of $2.6 billion each year.

“Australian households spend around $12,300 a year on food and non-alcoholic drinks,” confirmed Bessie Hassan, a money expert from comparison website finder.com.au. “However, that’s getting easier and easier with more restaurants happy to deliver to your front door.”

Eating out at a favourite restaurant or ordering in can be a welcome luxury after a busy day. However, when you regularly use these food services they can take a serious toll on your finances. Ask yourself, how much are you spending on convenience meals? And do you really want to spend so much on these luxury dishes when you could prepare your own for a fraction of the price?

With restaurants and food delivery services all accepting credit card payments, your taste for convenient meals may leave you with large debts. Those debts can stay with you long after you’ve stopped using the meal services. However, they don’t have to. Chase Edwards debt minimisation experts can help you clear those credit cards sooner than you think, giving you the financial freedom to buy the ingredients you really want for those home-cooked meals. Call us on 1300 854 833 to learn more.