Perth, May 12: Australia may be known as the lucky country, but new Finder research suggests many households are anything but financially comfortable ahead of tonight’s Federal Budget.
Federal Treasurer Jim Chalmers will hand down the 2026 Budget this evening, with cost of living, housing affordability, fuel security, tax reform and productivity expected to be key areas of focus.
The Budget comes as Finder data shows 42 per cent of Australians have less than $1,000 in savings, while more than half say they are living paycheck to paycheck.
Finder’s Consumer Sentiment Tracker found 77 per cent of Australians are stressed about their current financial situation. Of those, 25 per cent said they were extremely stressed, while 52 per cent said they were somewhat stressed.
Groceries remain one of the biggest pressure points, with 39 per cent of Australians listing them as one of their most stressful expenses in April.
This was followed by rent or mortgage repayments at 37 per cent, petrol at 27 per cent and energy bills at 24 per cent.
Petrol stress has also surged this year.
In January, 11 per cent of Australians listed petrol as one of their most stressful expenses.
By April, that figure had jumped to 27 per cent.
Finder said the average Australian household now spends $207 a week on groceries.
Housing affordability remains another major concern, with more than one in three Australians saying they do not think they will ever be able to afford a property.
Finder money expert Richard Whitten said the Budget comes at a difficult time for many households.
“Aussies have been doing it tough for years now. With three rate rises this year already and rents still climbing, tonight’s budget lands at a time when many households are running out of breathing room,” Whitten said.
“Any relief that puts money back in pockets will be welcome, but the government is walking a tightrope.
“Inflation is the problem, and government spending itself can be inflationary. But people need support, and careful, targeted spending can make a big difference to the lives of ordinary people.
“The headline-grabbers will likely be changes to the capital gains tax discount and negative gearing. A lot of people will pay more tax on their investments when they realise a gain. But these are big reforms about generational fairness.”
Whitten urged Australians not to wait for the Budget to fix their finances.
“Many people are leaking money in places they don’t even realise. From culling subscriptions to finding a better deal on things like your home loan, energy, and insurance, you could put thousands of dollars back in your pocket.”
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