Events
Growing proportion of vulnerable groups take out high-risk-high-cost payday loans or consumer leases:
(Question: In the past month, have you taken any of the following actions to manage your household expenses? E.g. payday loans/consumer leases)
Among consumer subgroups, the trend has been much sharper – peaking in November:
Growing proportion of vulnerable groups relying on credit/BNPL:
(Question: In the past month, have you taken any of the following actions to manage your household expenses?)
Consumers missing household bill payments on the rise:
(Question: Thinking of your (household bills), have you attempted any of the following in the last 4 weeks?)
Renters in particular struggled to make payments – trending up from 4% in May across the period peaking at 10% in Nov. Among renters:
Missed credit card, loan or BNPL repayments also steadily increased across the period. Again, a higher proportion of particular subgroups reported missing a credit payment:
Key measures underpinning vulnerability strategies:
(Exploring regulatory to vulnerability – A report for the Australian Energy Regulator 2020)
KEY REPORTS
Exploring regulatory approaches to vulnerability: A report for the Australian Energy Regulator
The experiences of older consumers: Towards markets that work for people
Date
July 29, 2021
Completed
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