News

EVEN before the recession threw tens of thousands of people out of work, Sydneysiders were struggling to cope financially, failing to save or budget, and unable to pay their bills on time.

A survey by the Wesley Mission, conducted in December, shows Sydney residents were financially worse off than they were when surveyed two years earlier. Almost one in three Sydneysiders said it would be difficult or impossible to cope with a $160 increase in their monthly expenses compared with 14 per cent in August 2006. There was also a near doubling in the numbers who would find it difficult or impossible to raise $2000 on short notice, rising to 30 per cent of Sydney residents. And 23 per cent could not pay their electricity, gas or telephone bills on time compared with 13 per cent in 2006.

• Read the full article reported by The Sydney Morning Herald