The cost-of-living-crisis has caused most Australians to tighten their figurative belts, but that hasn’t stopped many people from continuing to support others where they can. Source: SBS News.
A survey of 1080 people conducted in April by comparison website Finder revealed two in five Australians (39 per cent) have lent a helping hand to a friend, family member, colleague, or even stranger, who’s been struggling financially.
More than a quarter (27 per cent) bought groceries for someone in need, while one in 10 (9 per cent) paid their household bills.
Eight per cent let others stay in their house or investment property for free, while 2 per cent gave them a discount on rent.
Finder money expert Sarah Megginson said that with every part of household bills going up, the survey showed people were stepping up and helping out.
She said providing people with free or discounted shelter, in particular, was “really substantial” given it’s “the most expensive bill or expense that everyone is dealing with”.
On top of helping with everyday costs, 8 per cent people gave mates rates or performed a service for free, 7 per cent helped with medical bills, and 4 per cent paid for school and university fees.
Gen Z was the most generous generation surveyed, with 55 per cent providing help to someone struggling with the cost of living. Gen Y was the second most charitable (44 per cent), while Gen X (35 per cent) and baby boomers (26 per cent) were the least.
Ms Megginson said the “really generous spirit” of the younger generations was especially significant given they were more likely to have lower incomes, be in less secure work, and have fewer assets.
Amidst the cost of living crisis, some Australians are stepping up to lend a helping hand (By Amy Hall, SBS News)