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Burgeoning bills stress out Aussies

By Cameron Micallef · January 22 2020
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egg

Invest

Burgeoning bills stress out Aussies

By Cameron Micallef
January 22 2020
Reading:
egg
bills stress out Aussies

Burgeoning bills stress out Aussies

author image
By Cameron Micallef · January 22 2020
Reading:
egg
bills stress out Aussies

The Christmas hangover is tipped to continue, with burgeoning bills, debts and back-to-school expenses putting pressure on Australians.

According to survey results released by Finder, 70 per cent of Australians are experiencing increased stress just three weeks into the year.

Bessie Hassan, money expert at Finder, said January is a pricey time of year for most Aussies. 

“The post-festive dust has barely settled before we’re hit with yet another onslaught of expenses.” 

“Back-to-school costs are unavoidable for parents, and they can really hurt the hip pocket.” 

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“Not only do you have to fork out for uniforms, bags, stationery and books, you also have to contend with ongoing costs like transport and school lunches,” Ms Hassan said.

Almost one in four has been unsettled by annual bills like their car registration or home insurance policy, while 13 per cent are stressed about back-to-school expenses.

The research found that Aussies are also stressed by post-festive debt (20 per cent), the cost of keeping kids entertained (12 per cent) and trying to keep their New Year’s resolutions (12 per cent).

Ms Hassan said that it’s important Aussies are proactive about dealing with financial stress. 

“Audit your statement, switch to a cheaper financial product or consider a balance transfer credit card to consolidate your debt.”

“It can also be worth opening a back-to-school savings account and gradually adding to it over the coming year. This can take some of the financial strain out of next year,” Hassan explained.

 

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About the author

Cameron is a journalist for Momentum Media's nestegg and Smart Property Investment. He enjoys giving Aussies practical financial tips and tricks to help grow their wealth and achieve financial independence. As a self-confessed finance nerd, Cameron enjoys chatting with industry experts and commentators to leverage their insights to grow your portfolio.

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About the author

Cameron is a journalist for Momentum Media's nestegg and Smart Property Investment. He enjoys giving Aussies practical financial tips and tricks to help grow their wealth and achieve financial independence. As a self-confessed finance nerd, Cameron enjoys chatting with industry experts and commentators to leverage their insights to grow your portfolio.

Join The Nest Egg community

We Translate Complicated Financial Jargon Into Easy-To-Understand Information For Australians

Your email address will be shared with nestegg and subject to our Privacy Policy

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