Aussies spend stimulus money on household bills, savings and food

The Australian Bureau of Statistics (ABS) has released its latest Household Impacts of COVID-19 Survey, which reveals that most Aussie households have spent their stimulus money on household bills, savings and food:

Many people in the survey reported that they had used the stimulus payments for multiple purposes. The most commonly reported uses of personal stimulus payments were paying household bills (42%), adding to savings (40%) and spending on purchasing food and non-alcoholic beverages (31%).

People who were born overseas often have different experiences and characteristics than those born in Australia. The survey found that people born overseas were twice as likely to pay their mortgage or rent with stimulus payments than people born in Australia (20% compared to 11%). Additionally, nearly twice as many people born overseas reported using their stimulus payments to purchase medical supplies than those born in Australia (14% compared to 8%).