Respondents said they would have to sell something or turn to credit if they faced a financial emergency, a WA-based survey has found.
A cost-of-living survey found 37 per cent of respondents would be unable to cover an unexpected $500 bill.Almost one in four people in WA would have to sell something or turn to credit if faced by an unexpected bill, a survey by the Financial Counsellors Association of WA has found.
"We see people pulling back on important insurances, and of course, more and more people are really finding it difficult to make ends meet." She suggested the state government could also extend its rent relief program which provided one-off rent relief payments to help eligible tenants who were at risk of eviction because their rent was in arrears.
"It would be great to see an increase in funding for both emergency relief and individual financial counselling services across the state," she said.The Financial Counsellors Association of WA's survey findings were backed up by figures released last week by the Actuaries Institute, which found 15 per cent of Australian households were struggling to afford insurance.
ABC Radio Perth 720 Perth Cost Of Living Food Insurance Bills Savings Emergency Financial Counselling Actuaries Institute Financial Counsellors Association Of WA
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