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Cost of living pressures hitting almost 90 per cent of Aussie households

Business

Anxiety about the cost of food and groceries was at its highest level in seven years, with over four in five households reporting concern, according to consumer advocate CHOICE.

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CHOICE’S latest Consumer Pulse survey has found the anxiety was at its highest in seven years and that 20 per cent of households reported they were struggling to get by on their present income.

CHOICE editor Marg Rafferty said the group’s Consumer Pulse data showed that cost-of-living pressures had become a major issue.

She said it was not hard to see why when almost 90 per cent of Australians believed the price of daily essentials was rising faster than their capacity to pay for them.

Choice has also released advice for people trying to make the most of their household budget, available on its website.

Among its recommendations is to not use buy-now, pay-later cards and wage-advance schemes unless users have secure finances.

Areas covered include saving at the supermarket, in the kitchen, and on energy and insurance bills. The guide also includes contact details for people facing financial hardship or who need to negotiate financial relief with banks and service providers.

 

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