People Struggle to Cope With Difficult Times
Everyday, people spend. We spend for basic commodities like food, housing, clothing, education, utility bills, and other miscellaneous. Basic as they are, they eat a huge part of one’s every household budget. And with the global crisis, all prices have gone up and this has proven to be an additional burden for every family.
This year, many families, especially Queenslanders, have decided to apply cost-cutting measures in order to stretch their finances and make both ends meet. With 79 per cent admitting that they are truly having a hard time making both ends meet, life has really become more difficult today. It is seen that their next move is to cut on their budget for basic commodities. Some others are considering skipping car insurance and other expenses. It has also been found out that 59 per cent are spending beyond their means while only eighteen per cent have a family budget. In the survey done by The Sunday Mail/Channel Big Nine Squeeze, 67 per cent of the 1000 respondents say they will be experiencing harder times this year.
“Only 18 per cent stick to a budget no wonder people are buckling under the weight of bills. Draw up a household budget,” said debt buster Tammy May. May is a mother of four and has just recently opened her third MyBudget business’ Brisbane office.
The Reserve Bank, meanwhile, has put a hold on the interest rates. This has been a relief for many Australian families.
Andrew Fraser, Treasurer, says the government understands the ordeal and pressure of the average families. He added that $1.3 billion concessions and subsidies to help.
This time of economic crisis is felt not only in Australia but the rest of the world. This is truly a difficult time for everybody.
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Source : http://www.news.com.au/money/battlers-take-risks-simply-to-pay-bills/story-e6frfmci-1226024832768
