A new report shows the current cost of living crisis is pushing local residents to the brink of financial instability.
The Centre for Sustainability’s Geelong Cost of Living Report paints a picture of Geelong households unable to pay for utilities, skipping meals to save money, avoiding healthcare they can’t afford and experiencing housing stress.
Using data gathered from 61 Geelong residents, the numbers in the report are damning.
Nearly nine in ten respondents (88 per cent) reported they had experienced financial stress in the last year, with 43 per cent frequently experiencing financial-related anxiety.
Three in five (57 per cent) have struggled to pay utility bills in the past six months, 42 per cent have skipped meals due to the cost of living in the past three months and over one third are paying more than 30 per cent of their income on housing.
Many respondents were also vulnerable to financial shocks, with only 46 per cent of respondents having enough savings to cover essential expenses for three months.
Centre for Sustainability director and author of the report Aleta Moriarty said the findings “should serve as a wake-up call”.
“The people of Geelong are making impossible choices, between food, healthcare, and housing,” Ms Moriarty said.
“Our community needs urgent support.”
The report also details what respondents want from local leaders and recommendations for Geelong council, including boosting affordable housing options and ensuring equitable and fair fees, rates and fines.
“While many areas may fall outside the council’s direct responsibility, there is a lot more that can be done locally to support the community in crisis and to advocate to those that are responsible,” Ms Moriarty said.
“The time for buck-passing is over—it’s time for real, tangible solutions that help the people of Geelong. We need leaders who will fight for affordable living conditions and ensure that families are not left struggling to make ends meet.
“We are at a crossroads. We can either continue down the path of rising costs and broken promises, or we can stand together and demand the change our community so desperately needs. When leaders fail to act, it’s up to the people to demand what’s right. Geelong deserves better.”
Visit centreforsustainability.com.au to view the Geelong Cost of Living Report.
