How do you cut costs? We ask for your top money-saving tips as new report reveals most Australians worried about family budget

The cost of living is rising – and it hurts.

That’s the startling conclusion from a new survey which reveals the rising number of households struggling to cope.

The study by CHOICE says 46 percent of Australians are so concerned about the cost of living they’ve cut back on essentials in the last year.

More than half of the 1000 people questioned said they were very worried about electricity bills, 31 percent said they were struggling to get by on their current income while 62 percent reveal they’re cutting back on non-essentials such as entertainment and holidays.

“This reveals some striking concerns with the cost of living,” said CHOICE CEO Alan Kirkland. “Almost one in three respondents told us they find it difficult to get by on their current income.”

Only 18 percent of people questioned said they were living comfortably, while a tiny 5 percent described themselves as living “very comfortably”.

So what can people do to trim those household budgets?

We’d like to hear your top tips on saving cash and how to make that household budget stretch further. Post your comments below.