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How does Qantas Money assess my household expenditure?

During your application, we will ask you questions about how much you think your monthly expenses are. If you’re applying with someone else, you will each need to enter your portion of monthly household expenses separately. 

When you link your accounts or upload your financial statements, we will validate your stated expenses by comparing them to your accounts. Our platform can do this digitally using our data models. If you're a low spender, we use an Australian average expenditure benchmark called the Household Expenditure Measure (HEM). Developed by the Melbourne Institute of Applied Economic and Social Research, we use it as a baseline for what your household would typically spend, and may be higher than the expenditure you report on your application, or evidenced on your accounts. 

We use this information to make sure you can afford to repay the loan.

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