How Much is everyone actually Spending ON RENT + GROCERIES?

Lifestyle + Spending
Written By SOTM Team

Welcome back to Asking for a Friend! 💌 We are getting so much interesting data!! At the start of the year we feel all that new year new me motivation, which means we look at how we SPEND our hard earned dollars! We surveyed 1739 people and these are the results.

So, What Does This All Mean?

The numbers tell a story that’s slightly too relatable to our journey. As we move through life, our financial commitments evolve (so fun but so stressful) from beginning with share houses and study to higher incomes and peak expenses, and then (thankfully) a little stabilisation as we plan for retirement. Whether it’s groceries, rent, or general spending, each stage of life comes with unique challenges and opportunities.

Younger people tend to balance lower incomes with smaller expenses (and maybe some cheeky budgeting hacks), while those in their peak earning years juggle rising costs like rent and family groceries. Later on, spending levels out, reflecting downsizing and planning for the future 💕

What Can We learn From This?

Weekly Grocery Spending by Age Group

  • 18-24: Around $100/week, reflecting smaller households and budget-conscious shopping.

  • 25-34: Jumps to $130, likely due to lifestyle upgrades or family needs.

  • 35-44: Averages $148, with a $125 median showing many are still prioritizing savings.

  • 45-54: Drops back to a $100 median, with more variety in spending habits.

    55-64: Both average and median hit $200, showing consistent, planned spending.

💡 Takeaway: Groceries reflect your life stage spending grows with responsibilities but steadies as priorities shift.

Weekly Rent by Age Group

  • 18-24: Median rent is $225, averaging $251, reflecting shared spaces or smaller rentals.

  • 25-34: Peaks at $334 (average), with a $300 median, hello, family homes and independence!

  • 35-44: Hits a high of $435 average and $400 median, with peak housing costs.

  • 45-54: Median rent dips to $354, as downsizing or homeownership takes over.

  • 55-64: Median rent drops to $290, reflecting retirement prep or simplified living

💡 Takeaway: Rent spikes mid-life as families grow, but downsizing and homeownership bring relief later. (note these are peoples share of the rent, so people with partners may only be paying half the rent)

Be Flexible With Your Budget 💡 Life’s expenses ebb and flow, so your budget should too. If rent and groceries are spiking in your 30s and 40s, look for ways to cut costs elsewhere (like subscriptions or meal prep). In quieter times, use that breathing room to build your savings or enjoy little luxuries guilt-free. You’ve got this! 💕


Want to be told exactly where and how to budget your money? Join The Money Masterclass here

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Just a friendly reminder: Our content is here to inform and empower, not to provide personalised financial advice. We love making money talk fun and accessible, but when it comes to your own finances, it’s always best to chat with a licensed professional who understands your unique situation. Do your research and make informed choices that work for you!

SOTM Team
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