WA households concerned about rising cost of living

People living in Western Australia have been struggling to add anything to their savings accounts due to the rising cost of living in the state.

New figures released by the Curtin Business School have shown that less than one-third of households have been able to store cash away for a rainy day in the past month – down from 40 per cent in June.

The WA economy is performing a lot better than many other parts of the country and ABC News recently reported that an extra 100,000 new jobs could be made in the mining sector in the future.

However, this has led to house prices and living expenses spiralling out of control and many people who are not employed in the lucrative natural resources sector are finding it hard to cope.

The study also indicated that consumer confidence is at an all-time low of 37 per cent, which is down from 45 per cent in June.

Have a question about savings accounts? Ask the money gurus at Mozo Answers.ADNFCR-1761-ID-801446515-ADNFCR