Need to know
- 94% of Australians are dealing with increased costs, and 87% are worried about paying for food
- Our survey reveals the highest level of worry about electricity costs over the past eight years
- CHOICE lays out tips on how to save money at the supermarket and beyond
Nearly every Australian household has been facing higher bills and expenses over the past year, and concerns about the cost of food and groceries have reached a new high.
According to our most recent national Consumer Pulse survey, 94% of Australians are dealing with increased costs, and 87% of us are worried about paying for food as inflation continues to drive up prices.
It's a large jump from January 2021 when just 56% of respondents said they were worried about food costs.
The cost of electricity is another big concern. In March this year, 79% said they were worried about paying for power; in June, 85% expressed that concern.
It's the highest level of worry about electricity costs CHOICE has recorded in eight years of quarterly national surveys.
The price of fuel is yet another issue: 81% of households are worried about being able to afford petrol.
One in four are struggling
The economic squeeze is being felt by renters and homeowners alike, but some are managing better than others. About one in four Australians (24%) are finding it hard to make ends meet on their current incomes, while just under a third (32%) are comfortable. About half of us (44%) are just getting by.
The economic squeeze is being felt by renters and homeowners alike ... About one in four Australians are finding it hard to make ends meet on their current incomes
Within that variation there is some common ground: 60% of Australians say they're worried about having any disposable income left, and over half (55%) have cut back on non-essential spending. Four out of 10 have cut back on essentials such as groceries, energy and fuel.
CHOICE tips on how to cut costs
We've compiled lots of tips from our in-house experts and staff on how you might be able to save some money here and there on household bills and expenses.
Food and groceries
With food costs among the main concerns for Australian households, we lay out a number of tips to make your supermarket dollars go further.
Cheap and cheerful, here are the pantry heroes that can go a long way on a tight budget.
Other household expenses
From heating, to health insurance, to energy costs, we share 35 ways to save money
Our experts reveal Nine expensive habits you should break to save money.
Stock images: Getty, unless otherwise stated.
