Our Research
Download the 2009 Wesley Report, Financial Stress: The hidden human cost 
[4.13MB PDF]
The 2009 Wesley Report, Financial Stress: The Hidden Human Cost, shows a doubling in the number of people whose credit has run dry and that financial stress is a destructive force in health matters and family relationships. 
The new Wesley Report is based on a survey carried out in late 2008 among Sydneysiders in a worsening economic climate. The survey respondents were either mortgage-holders or living in private rental accommodation.
The report follows the 2006 Wesley Report Financial Stress and its Impact on the Individual, Family and Community that showed that one in three people were suffering financial stress and that one in seven were on the edge of insolvency.
Find out more about previous Wesley Mission Reports.
What we found
The six interest rate rises between the two reports on financial stress have hit mortgage-holders hard.
On the frontline.Read the real stories from our financial counsellors: There's a human cost to Financial Stress: |
Steep rent and food price increases in that time have severely curtailed the ability of families to maintain their customary standard of living or to be able to meet sudden financial emergencies.
A hypothesis put to Wesley Report survey respondents found that the number of people who would be driven to the wall by a $160 rise in monthly household expenses has doubled in two years.
In posing the hypothetical question about a $160 rise in expenses, Wesley Mission researchers were stunned to realise that reality has exceeded the mock scenario: official statistics show there has been a $260 rise in monthly rents and an approximate 6 per cent rise in food in the past year.
The survey found that people in financial stress suffered ill health and found it difficult to think clearly. Single parents experienced higher distress: 66 per cent experienced bad health and 75 per cent found it difficult to make rational decisions.
Most people either did not draw up budgets or did not adhere to them. Credit card dependency was high and there was an approximate 10 per cent rise of people in debt and of people unable to pay utility bills on time.
Wesley Mission urgently needs your help!
Do you have trouble budgeting?
Use our easy budget planner to draw up your own household budget.
DISCLAIMER: The information provided in this information sheet is of a general nature only, and is not intended to be legal advice. There may be errors or inaccuracies or the information may not be completely up-to-date. Always check the information provided before relying on it. The information relates to consumer law in New South Wales, Australia
Share this page
Help us raise awareness of the impact of financial stress by sharing this page with your friends.