Record numbers turn to helplines as inflation bites

Summarised from 2 outlets · Updated 29 Oct, 00:15 · Archive

Record numbers of Australian households have sought financial help as high inflation and rising interest rates strain budgets.

Record numbers of Australian households have turned to financial helplines in 2026 as high inflation and rising interest rates leave little room to cut spending. The National Debt Helpline has experienced record demand, according to a report by the Consumer Action Law Centre. More than one-third of its clients were either working or self-employed.

September's headline inflation rose to 0.8 per cent in the month, taking the annual inflation rate to 4.3 per cent. Economists predict another rate rise in the coming week. Financial Counselling Victoria chief executive Zyl Hovenga-Wauchope said financial counsellors are increasingly hearing from people who never expected to need help. 'Workers, families and small business owners are struggling to meet the rising cost of everyday essentials,' she said.

Justine Sless, a Melbourne-based author and creative director, made redundant at 57, spent much of the past two years struggling financially. After losing her regular income with a mortgage still to pay, she found herself choosing between paying bills or buying food. She eventually sought help from a financial helpline after reaching out to friends and family, describing the experience as painful but life-saving.

How it is being reported

• 'Hair's breadth away': inflation pushes people to edgeUnsparing inflation and a tight jobs market has pushed many households to the brink as the number of those seeking financial help climbs.Perth Now · 29 Oct, 00:03
• 'Hair's breadth away': inflation pushes people to edgeUnsparing inflation and a tight jobs market has pushed many households to the brink as the number of those seeking financial help climbs.The West Australian · 29 Oct, 00:03

In this story: Justine Sless · Consumer Action Law Centre · Financial Counselling Victoria · National Debt Helpline · Zyl Hovenga-Wauchope · Melbourne · Australia

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