Back to school costs are among the biggest stressors for parents.
Back to school costs are among the biggest stressors for parents.

What makes us feel the financial burn in the new year

It seems the financial pressure does not end on Christmas Day with 7 out of 10 Aussies experiencing stress into the new year.

A Finder.com.au survey of 1020 people showed one in five are still feeling the financial burn of festivities with post-Christmas debt.

And just over one in 10 said the costs of entertaining their kids during school holidays stressed them out.

Many of us also felt the pressure as the back-to-school date loomed closer.

One in five said they were stressed about returning to work, while 13 per cent cited back-to-school costs was their biggest bugbear.

 

Glenella State School prep student Phoebe Doumergue with her new school bag. Picture: Tony Martin
Glenella State School prep student Phoebe Doumergue with her new school bag. Picture: Tony Martin

Finder's Bessie Hassan said January was a pricey time of year for most Aussies.

"The post-festive dust has barely settled before we're hit with yet another onslaught of expenses.

"Back-to-school costs are unavoidable for parents, and they can really hurt the hip pocket.

"Not only do you have to fork out for uniforms, bags, stationery and books, you also have to contend with ongoing costs like transport and school lunches," she said.

That's on top of the annual bills like car registration or home insurance policies that had one in four Aussies feeling stressed.

Ms Hassan recommended Australians become proactive to deal with the financial stress.

"It can also be worth opening a back-to-school savings account and gradually adding to it over the coming year," she said.

"This can take some of the financial strain out of next year".


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