Rising energy, health and home maintenance costs top the list of concerns for many older Australians, a new over 50s life sentiment measure has found.
A joint National Seniors Australia and Challenger project, the inaugural Seniors Sentiment Index draws its findings from a survey of around 2,000 people over the age of 50.
While most older Australians report overall satisfaction with their lives, rising living costs - from home maintenance to the weekly food shop - have them worrying about making ends meet, both now and into the future.
The biggest concern, by far, is rising utility charges, with 83% reporting they are ‘very’ or ‘somewhat’ worried about them.
Overall, almost 60% of respondents said they were finding it more difficult to cover basic household expenses now than five years ago and 56% were not confident they could pay their bills five years from now.
“The onus is on governments to ensure state and federal concessions keep up with rising living costs, particularly basics such as utilities,” said Michael O’Neill.
“An interesting finding is that it’s social wellbeing, rather than financial, that has the greatest influence on overall life satisfaction… which only goes to prove that money isn’t everything.”