Cash-poor cut back, switch

MORE than one in three Australian households are under so much bill stress, they plan to cut back on groceries or switch to home brands if their budget gets any tighter.

A Deloitte survey of 1000 households found while net household wealth is higher than ever at $1 million, Australia’s asset-rich, cash-poor homes are struggling with cost-of-living pressures.

The survey, commissioned by Aldi supermarkets, shows people would rather buy fewer groceries or move to home brands, than cut back on alcohol and cigarettes.