Aussie sporting fanatics score goals with their financial health and wellbeing
Devoted Australian sporting fans are more likely to win when it comes to managing their financial circumstances, according to the 2015 RaboDirect Financial Health Barometer, which launched today.
Of the 2,500 Australians aged between 18 and 65 that were surveyed, those who attended professional sporting events were more likely to be completely happy with life, in excellent health and in control of their finances, when compared with those that did not.
And, if you’re not a fan of sports, now might be the time to convert, with research revealing that spectators of professional sports are in fact better savers, saving as much as 52 per cent more on average, than those that did not attend sporting matches across the same period.
According to Glenn Wealands, Head of Research & Analytics, Rabobank Australia and New Zealand Group: “Our research has shown that Australia’s affinity with sports appears to be having a positive influence on our overall financial wellbeing, with the data reflecting a strong correlation between those that attend sporting matches and their ability to save more and be happier.”
“Sport is a fundamental part of Australian culture, and it’s interesting to see that our obsession with sporting events is not only benefiting our physical health, but also our financial health.”
In a country known for a healthy dose of intrastate rivalry, the results also indicated that where you live significantly affects the amount of money you spend on sport with South Australian fans spending the most, at $676 on average, 72 per cent more than Queenslander sports lover, and 33 per cent more than the average Australian supporter. Fans living in metro areas also spent more on professional sports, outlaying an average of $606 in twelve months, in comparison to those living in regional cities, spending only $326 in the same period.
“At RaboDirect, we understand how hard Australians work to earn money. Through our Financial Health Barometer research we hope to arm Aussies with insights into how they can save more effectively and the trends that are potentially affecting their savings trajectory,” Glenn continued.
Other key attitudes towards saving and spending revealed in the 2015 Financial Health Barometer include:
- The wellbeing of mortgage holders and those who already own their own homes is substantially higher than those who have no plans to buy a house
- Pets are regarded as essential to the health and wellbeing of pet owners, with Australians more likely to minimise power usage or switch to cheaper products before cutting spending on their furry friends
- Of Australians working full or part-time 30 per cent feel like they are always in the red and 23 per cent are kept up at night by their finances
- 40 per cent of Australians save into their transactional account, missing out on $2.3 billion in potential interest^
- ^Roy Morgan Single Source, 12 months to April 2015 (n=33,630) Australians aged 14+ years who hold a transaction account.
- The average Australian could only live on their savings for four months.
- The more money Australians spend on healthy lifestyle choices, such as exercise and organic food, the happier they are
- Almost one in three Australian savers is putting their cash away for a holiday, whilst beer lovers spend more than $1,000 per year on beer
- Shoes are the most regretted impulse purchase and women have 17 per cent higher average debt levels than men
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RaboDirect is the online savings arm launched by Rabobank Australia Limited in 2007. As savings specialists RaboDirect is passionate about helping customers achieve their savings goals, through a range of high interest savings accounts and competitive term deposits.
RaboDirect is a division of Rabobank Australia Limited, part of the Rabobank Group, one of the world's leading specialists in food and agribusiness banking. Rabobank has more than 115 years' experience providing customised banking and finance solutions to businesses involved in all aspects of food and agribusiness.