Your Average Daily Cost of Living for June 2022

Key points

  • June 2022 overall Average Daily Spend is up 2.5% from May at $247 per day 
  • Average spending continues to increase, in line with the expectation from high levels of inflation and interest rate increases
  • According to the Australian Bureau of Statistics (ABS) this year spending has increased above 10% in the categories of furniture & household equipment, hotels, cafes and restaurants and transport


To help you understand your spending we have calculated an estimate of what it cost you to live an average day. This month you will receive your average daily spend for June 2022 and where we could we have compared it to your average daily cost of living in May 2022, April 2022 and for the whole of 2021.

For many of us, this number will be a real eye opener and will be greeted by responses like “Really? It costs me that much to live?” or “What did I spend all that money on?”

After the initial shock you might want to consider things like:

  • Is my cost of living rising, falling, or staying the same and how does that relate to my income?
  • How much of my cost of living is “essential” and how much is “lifestyle”?
  • How does my spending align with what is important to me?
  • What changes could I make to feel better about my money?

Unfortunately, for most of us, as our income rises so do our expenses – locking in a kind of ‘personal rate of inflation’ which can keep us from reaching important financial goals and financial freedom.

How does my average daily cost of living compare with others?

The simplest answer is that it doesn’t matter that much! Your average daily cost of living is all about you. It is only an estimate and we believe that how it changes over time is what’s important. However, we know that people will be interested in how their cost of living compares to other people. The following chart shows you a distribution of the average daily cost of living for our entire customer base to help you see where you sit – below average, average, or above average!


What we hope you do

We think that having one simple number is a cool way to think about our spending habits. We hope you have some fun with it and find it helpful in setting goals and tracking your progress in 2022.

How did we calculate your average daily cost of living?

Calculating an estimate of your daily cost of living in a meaningful way for everyone is difficult. We had to make a number of decisions to try and provide the most meaningful estimate for the most people. Here is what we did:

  1. We only included bank accounts, credit card accounts and loan accounts in our calculation. This means we excluded investment accounts. We found that lots of people had large value transactions on their investment accounts which distorted the daily cost of living calculation
  2. We excluded transactions categorised as transfers. We figured that these probably weren’t really expenses
  3. We excluded a number of MoneyBrilliant customers that had unusually high or unusually low average daily spend. We know that some of our customers use MoneyBrilliant for things like tracking income and expenditure for businesses and we didn’t want these numbers impacting the calculations for other users

What can I do to make my average daily cost of living calculation more accurate?

If you’ve looked at the number and just don’t believe it is correct, possibly you just don’t realise what it costs to live an average day of your life!

Seriously though, there are a number of things that might affect the accuracy of your calculation including:

  • You haven’t linked all your accounts to MoneyBrilliant – if we can’t see the transactions we can’t include them in the calculation. This is likely to result in a number that is lower than it should be
  • Transactions are incorrectly categorised – if you have transactions incorrectly categorised as Transfers or some type of income we will have excluded them
  • You have joint accounts and some of the expenditure belongs to someone else or you have other people’s accounts linked to your MoneyBrilliant account – we will have used this expenditure in your calculation – and theirs if they use MoneyBrilliant
  • You have business accounts connected – we will have used these transactions in your calculations
  • You make payments to your superannuation fund or transfer money to other investments and these aren’t categorised as Transfers – the payments will be included in your daily spend

If you spot something that is incorrect please let us know at

What should I do to make sure I get my Average Daily Cost of Living calculated each month?

If we aren’t currently sending you your Average Daily Cost of Living it will probably be due to one or more of the following issues:

  • You haven’t connected any bank accounts, credit cards or loan accounts to MoneyBrilliant. If you want to connect your accounts you can do this from the Accounts screen
  • You have linked your accounts but they aren’t refreshing properly. This may be because your credentials are out of date. You can quickly and easily update your credentials in the MoneyBrilliant browser, iOS and Android apps to start your accounts refreshing correctly again. You can do this from the Settings – Connected Services screen. Just select the service you want to update, scroll to the bottom of the screen and tap the Update Credentials option
  • You haven’t connected an account that contains your income transactions – we use this filter to make sure our algorithm has access to good quality, complete data for each customer when we calculate their Average Daily Cost of Living. Try connecting the account that you get paid into. You can connect additional accounts from the Accounts screen

If you would like to see your Average Daily Cost of Living each month please correct any of these issues that might be affecting your MoneyBrilliant account. If you need help with resolving any of these issues please contact us at

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