Nearly 80 Percent of Australian Households Grapple With ‘Extreme’ Financial Stress: Report

About 80 percent of Australian households are under “extreme” financial stress, according to a new report. In November, Finder’s Cost of Living Pressure Gauge reached an “extreme” level of 79 percent, up from 45 percent in November 2020.  It means 78 percent of Australians feel significant financial stress with 37 percent of homeowners and 44 percent of renters struggling to pay for a roof over their head.  Finder’s head of consumer research, Graham Cooke, said households are under the pump amid the cost of living crisis. “Our gauge’s results show a stark reality—rising costs, housing stress and the reliance on credit cards for financial management are putting millions under the pump,” he said. ...