The number of Victorians struggling with everyday expenses,or to keep up with their credit card debt,was up 7 percentage points in 12 months,and 16 percentage points compared to 18 months ago.
In comparison,49 per cent of people in NSW and 47 per cent of Queenslanders reported elevated financial distress in the three months to March – increases of 11 and 4 percentage points over 18 months respectively.
The numbers have alarmed mental health advocates,who fear a new cohort of Victorians is at a greater risk of relationship breakdowns,substance abuse issues or even self harm.
Suicide Prevention Australia chief executive Nieves Murray said the data clearly showed more needed to be done to ease Victorians’ financial and mental distress.
“The fact that we are seeing cost-of-living distress continuing to escalate despite a softening in inflation and interest rates should be of real concern for our political and corporate leaders,” she said.
Murray said now was the time for the state government to provide additional cost-of-living measures and put more money into suicide prevention. The government has previously pointed to free kindergarten,free TAFE courses and power saving bonuses as examples of it stepping in to help households.