Byford Mother's Financial Battle Against Rising Costs
Emma Dunkley, a 45-year-old mother-of-three from Byford, is facing the harsh reality of escalating living expenses and mortgage pressures. She purchased her home for $775,000 in May 2024 and, alongside her husband Brett Davey, 43, is working tirelessly to manage their financial obligations.
Mortgage Fears and Budgeting Struggles
"It scares me," Ms Dunkley admitted, expressing anxiety over potential interest rate hikes. The couple has already felt the impact, with a recent rate increase adding $60 to their monthly mortgage repayment. They fear this could multiply throughout the year, forcing them to cut back on family activities.
To combat this, they have implemented a strict budgeting strategy, using an app to track their finances. Ms Dunkley pays the minimum repayments from their wages and supplements this with side hustles, while Mr Davey picks up extra shifts whenever possible.
Multiple Jobs to Stay Afloat
On top of her full-time job as a project coordinator, Ms Dunkley works weekends and nights at a pub, delivers Uber Eats, and collects cans for recycling. "We are just throwing everything we can at the mortgage just to try and see it go down," she explained.
Despite their efforts, rising grocery prices and other costs make budgeting increasingly difficult. "Everything's getting more expensive every week," she noted, underscoring the broader challenge many households face.
Concerns for the Future and Younger Generation
With three children, including a 21-year-old and 17-year-old twins, Ms Dunkley is worried about the future. She observes her eldest child struggling to enter the property market, a sentiment echoed by many in the community. "It's just not getting any better," she said, highlighting the ongoing financial strain on families.
This story reflects a wider trend of Australians grappling with cost-of-living increases and housing affordability issues, as interest rates continue to pose a threat to household stability.
