Australian households are each shelling out $2340 on gym memberships, sports equipment and the latest fitness trends each year, with the average Australian spending close to $1000, or $75 a month.
By comparison with the United States, Statistic Brain Research Institute tells us from their gym membership statistics that our monthly spend on fitness compares favourably with theirs; they spend US$58 which currently converts to AU$78 per month.
The average Australian is spending close to $1,000, or $75 a month on fitness activities, yet many fail to incorporate the expense into their budget.
More than 4.6 million Australians have gym memberships with almost 1 million spending in excess of $100 per month on gym membership fees.
Australian men are more inclined to join a gym or sporting club, while women are more likely to enlist the support of a personal trainer.
Suncorp Bank’s regional manager Michelle Bagnall says having a combined fitness and financial plan of attack to tackling fatness in 2015 is critical to getting bang for your buck.
“There’s this perception that we are this nation of couch potatoes but the report shows there’s 94 per cent of us doing some form of physical fitness,’’ she said.
The report showed the most top three fitness activities are walking, running and going to the gym.
How much do Australians spend on fast food?
According to CommBank, the average Australian spends $70 a week on convenience foods and drinks. This amounts to $3640 a year!
If you cut down your spending by half or spent it every other week, you could save enough money for an overseas holiday at $1820.
The CommBank study also revealed the average amount of money spent on fast food has increased by 23% in the past four years.