Households are cutting back on eating out, entertainment and holidays as cost-of-living pressures continue to bite.
National Australia Bank research, released today, also showed that people were swapping to cheaper products and reviewing recurring expenses like streaming services.
They are also looking to loyalty programs as a means to save money.
The latest NAB Consumer Stress Index, based on a quarterly survey of 2000 people, is sitting above its long-term average.
NAB Banker Dee White said the research reflected how families were navigating higher everyday costs.
“School holidays can put extra pressure on household budgets, especially when many families are already being careful with everyday spending,” Ms White said.
“What we’re seeing is Australians adjusting by planning ahead, looking for deals and making small changes that help keep costs down without missing out on time together.”
The survey found 53 percent Australians were being careful with everyday purchases.
The use of loyalty programs was up 42 percent and shopping during sales was up 46 percent.
