Where we actually save

Every third household severely restricts consumption

The high price increases of recent years continue to place an enormous burden on domestic households. More than a third, 36 percent to be precise, have therefore severely restricted their consumption. According to a recent survey, this is particularly noticeable in the restaurant trade, but also in fashion retail. At the same time, the potential for saving on fixed costs is higher than it has been for a long time, according to the comparison portal Durchblicker.

Consumer uncertainty remains high. The recent high inflation is weighing on the stock market and the gloomy economic outlook is weighing on people's minds. Four out of five respondents are therefore worried about the future and are cutting back considerably on their spending. 91% have put the brakes on this year. More than a third, namely 36%, have even cut back considerably.

Austrians are cutting back on food, fashion and travel
Restaurants, cafés and bars are being hit particularly hard - as 76% of households are currently spending less in these areas. Fashion and travel follow slightly behind in second and third place (see chart).

(Bild: Krone KREATIV)

More and more Austrians are also currently doing without furniture and furnishings. While "only" 45% were reluctant to buy household goods, sofas etc. in 2023, this figure has now risen to 60%. The red pencil is being used less often than before when it comes to food.

Four in ten need credit for unplanned expenses
Although the inflation curve has been trending downwards since the summer of 2023, 89% of households have noticed an increase in fixed costs this year. "At the same time, financial cushions are likely to have shrunk, as two in five Austrians say they are no longer able to cope with unplanned expenses such as repairs or purchases of major household appliances without a loan," explains Durchblicker boss Martin Spona.

Potential for optimizing fixed costs is far from exhausted

Martin Spona, Durchblicker

Reduce fixed costs and save up to a whopping 4300 euros
If you are suffering from increased costs or want to optimize your expenses, you should definitely go through your fixed costs. There is more money in there than there has been for a long time. Currently, a family household that always has a contract with the most expensive provider can save up to a whopping 4300 euros by switching to the cheapest provider. Specifically, this amounts to up to 1300 euros for gas, up to 900 euros for electricity and up to 700 euros for car insurance. 

The greatest willingness to switch is for mobile telephony. Here, six out of ten have switched providers at least once. In the case of electricity, one in two has already switched at some point. Spona: "The survey shows once again that the potential for optimizing fixed costs is far from being exhausted."