Australians prioritise time over money – NAB

Home services survive spending cuts

Australians prioritise time over money – NAB

News

By Mina Martin

Despite rising living costs, only one in five Australians have reduced spending on home services like cleaning and gardening in the past three months, according to new NAB data.

This contrasts with nearly half of Australians cutting back on dining out, micro-treats, and entertainment.

Home services were among the least likely areas for cutbacks, following spending on children (one in 10) and pets (one in six).

“Despite all the chat about cutting back and skipping takeaway coffees, coming home to a clean house at the end of the day still holds a high priority right now,” said Larna Manson, NAB retail customer executive.

Who’s cutting back?

Australians aged 30–49 were the most likely to reduce spending on home services, with 26% cutting back, compared to just 12% of those aged 65 and older, NAB data showed.

Income levels made little difference: 22% of high-income earners and 23% of low-income earners reported reductions.

Those who did cut back on home services saved an average of $92 per month.

Outsourcing still a priority

Manson explained the enduring appeal of outsourcing.

“The phrase ‘time is money’ can be overdone but it’s clear we’re a nation serious about outsourcing home and garden care so we can use our weekends and evenings to relax and socialise,” she said.

Nicole Wood, a franchise owner for Jim’s Cleaning Group in Victoria, shared similar observations.

“To our surprise, we’ve actually had more clients call us in for help with their home cleaning needs. While they’re stretching out the time between visits, we’ve seen a spike in Aussies looking to home cleaning services to free up their time,” Wood said.

Spending habits reflect busy lifestyles

Even as Australians tighten their belts, prioritising home services over other expenses highlights their need to balance busy schedules with relaxation and social time.

To read more about the NAB research, visit NAB News.

Get the hottest and freshest mortgage news delivered right into your inbox. Subscribe now to our FREE daily newsletter.

Related Stories

Keep up with the latest news and events

Join our mailing list, it’s free!