Pressure on Family Budget

Published: September 19, 2008 - 09:28 PM

By Amanda Edmonds

Making ends meet and balancing the family budget is the most concerning issue for Australians, the Herald Sun has reported.

The increasing cost of living is affecting more than 80% of Australians compared to last year when the environment topped the list, now the major concern of just 4%.

Drug and alcohol abuse is the main issue for 40% of the community according to the independent research commissioned by the YMCA, with better support for pensioners who are struggling on low incomes also a significant issue, with one third of people believing the federal government should be doing more to help them.

One in four feel the cost of raising children is the biggest issue, while 20% of people were concerned about their kids being bullied.

YMCA Victoria chief executive Peter Burns said recent economic circumstances had "placed significant pressure on Victorian households".

"The environmental issues that preoccupied the public less than 12 months ago seem secondary to the basic needs in life of a roof over one's head and food on the table," he said.

With petrol prices skyrocketing and high interest rates and a global credit crisis, the pressure is on families to make ends meet. While luxuries can be forgone, essentials such as gas and electricity and the home loan or mortgage cannot be avoided and the cost of these utilities is increasing and balancing the budget and saving money on essentials is harder than ever.

David Power of ShopAround.com.au said that “At ShopAround.com.au we can show you how to save hundreds on your gas and electricity bills by providing a quick and simple electricity and gas price comparison service that is free to use. If we can help families find the cheapest electricity company in Victoria or Southern NSW, or a cheap gas supplier in Melbourne, Mildura or Bega, then we feel we’re offering a real service to the community in these difficult economic times.”

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