Here’s what the average Australian spends their money on [infographic]

Australia has once again been voted the wealthiest nation in the world.

Have you ever wondered what we spend our money on?

According to the ABS the average income of Australia’s 9.3 million households is $145,400.

So what are we spending our money on?

Made up of wages, investment incomes, welfare payments and the imputed rent value of home ownership, here is what Australians are spending their money on…

IBISWorld

According to the findings, Australians spend more than a quarter of their total income just on taxes and rent. While non-durable items are the single biggest outlay at about 17%.

Moneysmart, an online initiative set up by ASIC to help Australians manage their money, has created some cool infographics on Australians’ spending broken down by state and stage of life.

Here are some of the best ones according to Business Insider:

We spend differently depending on our age.