COTA Australia’s submission to the Australia Senate Select Committee Cost of Living highlights many older people are struggling to keep up with rising living costs and that this is impacting adversely on their health and wellbeing. People on low fixed incomes are being the hardest hit. They find themselves increasingly struggling to afford essentials such as fresh food, utilities and rent.
Our submission also acknowledges older people who previously considered themselves ‘without money worries’ now find themselves in a very different financial space.
The current cost of living crisis has shaken many older people’s confidence in their ability to manage day-to-day financial affairs and live a ‘good life’.