AUSTRALIANS spend more than $34 billion each year on vices like smoking, gambling and binge drinking.
Keeping up with the latest fashion trends is also high on the money-wasting list, analysis by financial comparison website Mozo revealed. 
Restaurants, cafes, weekday lunches, weekend brunches and coffee are also pulling on consumers' purse strings.
Mozo spokeswoman Kirsty Lamont says Australians' desire to spend up on life's luxuries is resulting in weekly wages being whittled away by unnecessary spending.
"Close to a third of our lifestyle is going into cafes and restaurants on expenses that would have been considered luxuries a couple of decades ago, such as takeaway coffees, restaurant dinners and brunches," Ms Lamont said.
"We are not saying cut out coffees and nice dinners altogether - but you can certainly pull in those costs." Clothes and shoes are the nation's biggest money-waster - shoppers are spending more than $23.2 billion per year.
Australians spend $26.4 billion on cigarettes, gambling and drinks at the pub annually - and an additional $11.4 billion on dining out.
Gambling, sports betting, poker machines and scratchies are chewing up $6.9 billion.
Keeping up with the latest mod-cons including Fitbit, GoPros and smartphones is costing $5.4 billion.
Jessica O'Connell, 27, who works in PR, says she is often "time-poor" and spends at least more than $100 a week on buying meals and drinks.
"I'm always in trouble with my partner for online shopping. We do order food to the house when we don't want to cook, but with working long hours you just want that easy meal," she said.
"I'm not a big drinker so I don't spend too much on alcohol but I buy lunches and coffees every day and order takeaway food."And the nation's credit card bill is far from shrinking - Reserve Bank of Australia data shows Aussie consumers owe $51.7 billion on their credit cards and more than $32.6 billion of that debt is accruing interest.