Aussies cutting back on more than meals as cost of living crisis bites

Embargoed until: Publicly released: 2024-01-30 03:00

Australia; NSW; TAS

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Australian researchers surveyed 1,248 Tasmanians to investigate the strategies we're adopting to cope with the cost of living crisis, and found it's not just food we're cutting back on. As well as buying less and cheaper food, respondents also said they were trying to cut housing and transport costs, selling assets, dipping into their savings, relying on credit, spending less on insurance, and curbing fun, non-essential leisure activities. Those who were experiencing the most food insecurity were adopting more of these money-saving measures, the authors found. This is likely to be affecting Aussies' health and social and financial wellbeing long term, so investments should be made in social safety nets, nutrition programs and ensuring access to food, they conclude.