Are you cutting back on Christmas festivities this year? You’re not the only one. As Aussies grapple with rocketing interest rates, they’re choosing between a Christmas feast and paying the mortgage or rent.
St Vincent De Paul says that 761,000 children and their families are struggling to pay essential bills and put food on the table. They have seen a 40 per cent increase in calls for support this year. Thankfully, the Reserve Bank has put rates on hold until February – but we still need to tighten the purse strings.
The rise in calls includes people with full-time employment and multiple incomes – showing that the cost of living crisis is pushing everyone to the limit. Stats from Australia Now in May even tell us that two in five mortgage holders said they will struggle to pay their mortgage over the coming three months, and 49 per cent of renters are struggling to cover rental costs.
Ouch. It sounds like everyone needs a hand right now. Thankfully, there are some practical ways to save money this Christmas.
The Salvos are encouraging people to get creative with their Christmas gifts. They suggest creating handmade cards and gifts, gifting baked goods and doing odd jobs. Many others are going to the op shop for gifts. But at Fidget we also have another, or additional, alternative for homeowners. Give us a call – because there’s a good chance we can help you save some cash on your current home loan. We consider ourselves experts (or Christmas elves, if you will) at finding the best suited lender for you so you can cut years off your mortgage.
We also have another Christmas gift for our community, but we need your help. Because every time you successfully refer a friend to us through December 31, we will partner with Eat Up Australia and Geelong Mums to feed 50 vulnerable kids, and clothe 2 children for a whole year. Oh, and we’ll give you a $100 voucher to say thank you (Just call us Kris Kringle)! More info is here.
What are you waiting for? It’s honestly not a sales pitch – giving your broker (aka us) a call is the next step in getting through this cost of living crisis, and we’d love to support you. The best part? You don’t pay us anything – our fees are covered every time we connect you with a lender.
We’ll make it through this tough financial season friends, and we’ll do it together.