Cutting back: the new normal as financial pressures rise

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Cutting back: the new normal as financial pressures rise
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Cost of living pressures are continuing to have a profound effect on Australian families. A new survey has found that choices like cutting back on grocery shopping and personal spending, are fast becoming the new normal. Health charities are emphasising budgeting as a way reduce the impact of the…

Cost of living pressures are continuing to have a profound effect on Australian families. A new survey has found that choices like cutting back on grocery shopping and personal spending, are fast becoming the new normal. Health charities are emphasising budgeting as a way reduce the impact of the cost of living crisis on mental wellbeing.Honor Severs is a 30-year-old content producer, and lives with her partner and two young children in Sydney.

Its findings suggest that, in response to a continuing cost of living crisis, choices like cutting back on grocery shopping and personal spending are fast becoming the new normal. Health organisations like Uniting Care are emphasising the importance of budgeting as a way to reduce the impact of rising costs on mental wellbeing.

Pressures are causing high levels of distress within relationships, and an alarming rise in reports of alcohol abuse and domestic and family violence. For those having problems with debt or shortfalls in income, Mr Lindsay says it is better to act sooner rather than later. "If the stress is impacting on your mental health and wellbeing, you can always reach out for support, either through services like Headspace or online through our digital mental health services. Sometimes there can be shame or stigma if they don't feel that they're coping with budgets or anything else, but trying to know that there's always help out there."

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