400,000 Aussies saving $2,000 a year: How you can do it too

·2-min read
A person holding Australian currency to represent savings.
Aussies could be saving thousands by giving up the grog this year. (Source: Getty)

Thousands of Aussies have resolved to give up the grog this new year, according to new research.

The Finder survey of 1,085 respondents revealed 2 per cent of Australians – equivalent to more than 400,000 people – planned to give alcohol the flick in 2023. More than half of those are millennials (237,662 people) – with those aged 25-40 most inclined to ditch the booze.

The average Aussie could save more than $1,971 a year by abstaining from alcohol – that’s roughly $38 a week. That’s equivalent to $790 million that could be saved this year alone.

Finder money expert Rebecca Pike said there was a growing number of ‘sober-curious’ Aussies.

“Drinking excessively can lead to health problems, as well as increasing the risk of alcohol-related injury. Dry January – or the practice of abstaining from alcohol during the first month of the year – has gained popularity as a potential way to overhaul one’s relationship with alcohol,” Pike said.

“Even if you missed out on the start of Dry January, it's never too late to kickstart your journey into not drinking. Many plan to keep it going all year long, which would be a win for health and hip pockets.”

Consumption of alcohol-free beverages is also on the rise, with bottle shops and venues stocking a growing range, and many mainstream brands releasing non-alcohol versions of their popular beer, wines and spirits.

Market research from Mordor Intelligence estimates the global non-alcoholic-beer market is estimated to be worth around $25 billion by 2025.

Pike said drinking was a huge part of Australian culture and alcohol often played a central role in social gatherings and events. Pike said millions of Aussies had a toxic relationship with alcohol – especially those born here.

In the past financial year, one in four Australians older than 18 exceeded the Australian Adult Alcohol Guideline in 2020-21, according to the Australian Bureau of Statistics.

Those born in Australia were almost twice as likely as those born overseas to exceed the guideline (30 per cent compared to 17.3 per cent).

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