All we need is love (and an end to inflation)

The rising cost of living, mortgage cliff, inflation, interest rate increases, wage stagnation, energy price spike – these are all terms that send shivers down my spine. As I'm sure they do for many of us out there.

My partner and I are doing well financially. We're not driving fancy cars or going on luxury holidays but we are more fortunate than most. However, we have not been able to escape from the financial struggle of the times.

We are the classic story. We had a surprise third baby, which we weren't expecting. What else do you do in lockdown? We bought a home during Covid, when interest rates were extremely low. And now, well... you know the ending to that story. Things are tight.

We still have two kids in daycare and one thankfully in primary school. And public schooling cannot come soon enough. After our mortgage, our daycare fees are our biggest expense. With what we thought would be some relief with the changes to the Child Care Subsidy, turns out we only get an additional $40 a fortnight. Plus, our centre has increased its fees so there goes that relief. Now we can hope that one of the local community centres accepts our kids. But I am very aware that those positions are highly sought after.

We also eat vegetarian during the week to cut costs. We've paused our kids' swimming lessons during winter. Reviewed all our streaming services. Stopped shopping out of habit and shifted to essentials. Explored Airbnb'ing our house or renting in a more affordable area. Considered selling a car. The list goes on.

These cost-saving tactics have taken a toll on me and my partner. The responsibility and guilt that comes with financial stress – especially when you have kids to care for – is heavy.

But we'll get there. We'll make it. I just have to keep reminding myself that kids just need love and care and not all the fancy materialistic things.