What is the most important expenditure for families now that they can not do their regular activities?

expenditure for families

As online retail sales soared, games and toys made up the largest percent (15.2 percent) of this online boom. What’s the most important expenditure for families now that they can’t do their regular activities?

They can’t go on holidays, trips etc. so they are spending more on Nintendo Switch, PlayStation, Xbox, and Board Games, etc. to keep everyone occupied.

During the brunt of the coronavirus restrictions, Australians feasted on takeaway food, upgraded their wardrobes, and relied on games and toys to break the monotony of lockdown life. 

Online retail sales are up 62.6 percent on last year, according to National Australia Bank. The retail sales have jumped 6.7 percent alone in the last month, and of course, in Victoria, online sales have doubled what they were in 2019. 

As a whole, we are all attempting to fill in our newly found free time, with a range of online shopping. Most are seeing e-commerce and retail as one of the silver linings during this dark period. These retail businesses can continue to thrive in an unstable economic climate, meaning more job stability for many Australians. 

However, the big question is what exactly we are spending our money on? 

Spending on games and toys actually made up the largest percentage – 15.2 % – of this online boom. Which is no surprise considering every child who was once at school or day-care is now at home 24/7. Families are now trying to find new ways to keep their kids entertained, considering they can’t do their normal activities. 

Instead of going to an indoor play center, going on holidays, the aquarium, the zoo this must be replaced with the equivalent of games and toys. Safe, at-home entertainment for their kids is now the most important expenditure for families. In order to keep everyone occupied and ensure everyone, especially mum and dad, stay sane. Due to this, sales for the Nintendo Switch, PlayStation, Boardgames, and Xbox have soared. 

Every parent is really feeling the full impact that this lockdown is having, on their partners, their work lives, and most importantly their children. This is why they are focused on purchasing new gadgets and games to, attempt to make up for the time in their childhoods that they will lose due to the pandemic. 

The problem here lies in that having a family is already expensive during an average year. Now, every family’s expenditure has changed, holidays and trips may have been canceled and replaced with an Xbox. However, some families don’t have that luxury. While parents might still be working, it may be less so they can take care of the kids, so the breadwinning falls primarily onto one partner. 

These families may not feel like they can splurge on games and toys for their children but are feeling the strain of trying to keep them entertained without them. 

This is where Spondooli can help them out. Spondooli can offer a helpful solution so that these families can purchase the necessary entertainment for their kids. To create less stress and a better household for all. The solution is an online fast cash loan. A low-value loan can be secured quickly and easily, as long as you meet the pre-requisite lending criteria including secure employment and a track record of your earnings. 

The advantages of an online fast cash loan are that you don’t have to go through the excessive paperwork that is required for a personal loan from a banking institution. Everything is done online and if approved, you’ll have access to the funds within a matter of hours. This is a great solution to keeping every in your household happy during a tough time.