Yahoo Finance Half of Aussies under bill stress this Christmas
Millions of Aussies will struggle to cover the bills this holiday season, as households continue to feel the pinch from the rising cost of living.
New research by Finder revealed 53 per cent of Aussies would face bill stress this Christmas - equivalent to 10.6 million people.
Groceries were the biggest concern for Aussies (33 per cent), followed by petrol (24 per cent) and energy (19 per cent), the national survey of 1,114 Aussies found.
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More than one in 10 (14 per cent) said they would face pressure with their rental payments, while 11 per cent would find it hard to pay off credit card debt.
Finder head of consumer research Graham Cooke said record inflation had left some Aussies in a difficult position.
“High household costs have left some Aussies with the tough decision as to whether they put food on the table or presents under the tree this Christmas,” Cooke said.
NSW households were expected to struggle the most (56 per cent), followed by Victorians (52 per cent) and Queenslanders (45 per cent).
Cooke encouraged Aussies to take a look at their upcoming bills and reach out for help if needed.
“Prioritise your bills and focus on paying the most important ones first,” Cooke said.
“If money is particularly tight, contact your creditors and explain your situation. They may be able to offer you a payment plan or temporary relief.”
Food and non-alcoholic-beverage prices increased by a whopping 9 per cent over the 12 months to September.
Recent research revealed Coles was the cheapest place for Aussies to do their Christmas shopping this year.
Frugl calculated Coles shoppers would spend about $143.75 on a standard Christmas basket, including staples like a ham, turkey, snacks, a pavlova and mince pies.
In comparison, Woolworths shoppers would be set back $147.56, and Aldi shoppers $149.03.
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