Australians worried about the rising cost of living, whitepaper says
/A new whitepaper shows that Australians are concerned about the rising cost of living as 2019 grinds on.
Key findings include:
Women are more worried than men, with 60 per cent of women respondents concerned about the costs of goods and services, compared to just over half of the men
Almost 40 per cent say goods and services’ costs are their main concern in 2019
Many people are concerned about having enough money for retirement, particularly women (nearly half, compared to 43 per cent of men)
Falling house prices may be causing extra concern
Queenslanders are most concerned about the rising cost of goods and services (58 per cent), then New South Wales (56 per cent), Western Australia (55 per cent) and Victoria (52 per cent)
Eighty-five per cent of respondents say this stress negatively affects their wellbeing, with women more stressed about it than men (90 per cent versus 77 per cent respectively)
Two in five respondents are embarrassed about their debt
Queenslanders, Victorians and those in New South Wales were found to be the most financially stressed, with up to 85 per cent saying they felt the stress negatively affects them
Over a quarter of respondents do not set financial goals, with 20 per cent of those with goals documenting them clearly
Over 18 per cent do not save anything each pay cycle
Mortgage Choice and CoreData’s Financial Fitness whitepaper looks into the financial attitudes and behaviour of consumers, seeing what is keeping people up at night.
