Canstar report reveals concerns over household budget for 2022

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A new report has revealed the top budget concerns for Australian households up to 2022.

Canstar’s Pulse Consumer Report shows that the top three financial issues as the New Year approaches all have to do with the household budget: food, fuel, and rental costs.

Today, financial expert Effie Zahos says that while normally the number one financial problem is electricity, it has in fact become a concern in recent findings.

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“It has a lot to do with falling wholesale prices and people getting a little more frugal when it comes to how they use their energy,” she said.

The report shows that 87 percent of people are more aware of what they use with energy and 44 percent are looking for more competitive market offerings.

Zahos said 27% of people still sit on the most expensive default.

“For those of you who are sitting on this, shop around to see if you can get better prices,” she said.

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Zahos said that while some have been able to put hundreds of savings aside this year, many are still living on a pay-to-pay basis.

“It was interesting to see the amount of savings that people are putting away,” she said.

“It’s about $ 167 a month that these people can save and 25 percent of us had no savings at all.”

The information provided on this website is general in nature only and does not constitute personal financial advice. The information has been prepared without taking into account your personal goals, financial situation or needs. Before acting on any information on this website, you should consider the relevance of the information to your goals, financial situation and needs.

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