What are you spending your money on?

Friday 28 March 2014

The States want to know how much you earn and what you’re spending your money on and over the next year will be randomly surveying thousands of Islanders to find out.

If your household is one of the 3,000 chosen you’ll be asked to keep a spending diary for a fortnight and give information about the types, quantities and cost of things you are buying. Your feedback will be used to measure Jersey’s Retail Price Index (RPI) and work out the cost of living.

The Statistics Unit say it’s important that the RPI is accurate as it’s a key economic measure which often affects pay, rent and benefits.

They also want to see how income levels vary and will use the information to study the impact of income support, taxes and benefits and to look at how the cost of housing effects what people have left to spend.

Chief Statistician Duncan Gibaut said: “I’d like to encourage households who are selected to help us by taking part in this important survey. They represent not only their own household but others in Jersey like theirs, ensuring that official statistics represent everyone in the Island.”

If you are picked to take part, someone from the Statistics Unit will visit you to talk you through the survey and ask questions about your spending.

 The Jersey Household Spending and Income Survey was last carried out five years ago. The results showed that:

• In 2009/10 average household spending in Jersey was £724 per week.

• The average (mean) household income was £1027 per week.

• Jersey households spent £68 on food each week on average.

• The average household spent a fifth (22%) of their total spend on housing costs.

• Households with the highest incomes spent four times as much on restaurants and hotels as those with the lowest incomes.