Community Family Day
27 May 2018
Community and Impact
Community and Impact
20 May 2019

1 in 10 Aussies Not Keeping Up

1 in 10 Aussies Not Keeping Up
We talk about many Aussie families having to think about their spending, getting through a day at a time. The latest Household Financial Comfort Report shows our overall financial comfort is not increasing, although work conditions have improved. Paying monthly expenses has actually decreased and 40% of people are seeing living expenses increase. Those under 35 and without children are the only group where comfort has been increasing. Often without mortgages and no childcare expenses their burden hasn't been quite as heavy but we're all still hit with fuel, utility and grocery costs. Last night the Sydney Morning Herald picked up on the report, emphasising 1 in 10 Aussies are currently spending more than is earned. With a quarter of us having less than $1,000 in savings, this means plenty will using credit cards and unable to pay it in full when it's due. This results in high interest and even more difficult getting back on top. We really hope Australians can appreciate the battle many of us face, be prepared to help each other more so we don't have to go without so much and can make time to get things done. Please be understanding that it's not always easy for others, your friends and neighbours.

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