It was something many Aussies used to not even think twice about doing, now new research has revealed the impact the past decade has had on one specific habit.
Over the past year, basically everyone has been impacted by the cost-of-living crisis in one way or another.
You could stop pretty much any Australia on the street and they would tell you the various ways in which they have had to adapt to this brutal new economic reality we find ourselves in.
For some, it may mean foregoing luxuries like a yearly holiday or eating out, for others it could mean having to pick up a second job or sell their home because they can no longer afford the mortgage repayments.
The cost of living crunch means Aussies are having to cut back on donations. Picture: NewsWire / Nicholas Eagar
Unfortunately, the cost-of-living crisis has meant many Australians have had to cut back on an important habit.
A recent KPMG analysis of ATO statistics found that less than 30 per cent, about 4.3 million Aussies, made a donation to charity, according to the latest tax data.
KPMG found the average tax-deductible gift or donation was $1067, and for every 1000 taxpayers, just 275 were in a position to give.
Over the past 10 years, the number of people donating to charity has fallen by 270,000, a reflection of the increasing financial pressure being felt by people across the country.
KPMG urban economist Terry Rawnsley said the cost-of-living crisis was forcing Aussies to cut back.
“In this tough economic environment something has to give, and unfortunately when people are feeling the pinch, they have to focus on their own families first and foremost,” Mr Rawnsley said.
“The news comes at a time when charities are already stretched, with demand for their services skyrocketing.
“This is creating a double-edged sword, with the need for support on the up at a time when the donor base is shrinking.”
However, Mr Rawnsley said there was a silver lining, with those who can afford to give now digging deeper.
The value of donations has increased by as much as $573.
This comes as new research from The Salvation Army found that millions of Australians are struggling to pay their bills, rent and mortgage in the lead up to Christmas.
New research from The Salvation Army found millions of Aussies are struggling in the lead up to Christmas. Picture: Wayne Taylor
Sadly, one in four parents are now unsure if they can afford to buy gifts for their children this year.
According to the research, approximately 6.3 million Australians are struggling financially during the holiday period, with 39 per cent going without holidays so they can afford to pay for Christmas.
Major Warren Elliott said the number of people seeking out The Salvation Army for help has reached unprecedented levels, making it one of the “hardest” Christmases for the charity in its 140-year history.
“The numbers are just going through the roof, and they have been for a few years now, and they just keep going up at Christmas time as more people, particularly over these last two years, have been feeling the squeeze,” he told 9News.
According to the Salvation Army research, 19.2 per cent of Australians will forgo paying their medical bills so they can spend their money on gifts.
“The number of people that are cutting back over Christmas and saying they’re not going to have as much food or not going to have as many presents,” Mr Elliot said.
“People are putting themselves into financial difficulty … just to make sure that the kids have something.”
– with NCA NewsWire