Media Coverage
News.com.au; February 20, 2024
As households are being pushed to breaking point, an alarming number of Aussies are getting themselves further in debt to cover basic expenses.
One in six Australians have resorted to using credit cards to cover the cost of everyday expenses, as the cost-of-living crisis continues to push household budgets.
New research found 27 per cent of Australians were doing it tougher than ever before, however that financial pressure was more concentrated in South Australia (34 per cent) and Queensland (30 per cent).
The data, released by Good360 – an organisation which redirects unsold essential products such as clothing and furniture to charities — also found nearly one in 10 people surveyed (8.5 per cent) have also sought help from a charity, or are considering support due to financial pressures.
Good360 Australia managing director Alison Covington AM said the “quite frightening” increased use of credit cards on basic amenities was proof of pressure on households.
“What we’re seeing is that everyday Australians are needing more help than ever. Previously it was when we were having crises and disaster, like fire, flood and Covid, now the cost-of-living crisis is hitting all over Australia,” she said.
Check out the full article over at News.com.au.
Read more about Good360’s work during the cost-of-living crisis here.
