A mother of three, known as K, who shares her experiences on the Instagram account @mylifebackinoz, revealed that despite having two solid incomes, she and her partner often feel financially stretched.
In a recent Instagram reel, K shared her perspective on what it means to be middle class in 2026, expressing the financial challenges her family faces.
“Mortgage rates have increased by 0.25 percent, our grocery bills now surpass what we once paid in rent for our first apartment, and petrol costs have soared to over $2.50 per litre,” she explained. “Factor in childcare and the kids’ activities, and you get the picture.”
While K clarified that they are not in financial distress, she admitted they are far from feeling comfortable financially.
Having returned to Australia after spending 14 years in the UK, K mentioned she has been grappling with ‘reverse culture shock,’ particularly regarding the high cost of living.
Yet, K’s family is not alone in facing these financial pressures.
The cost of food and non-alcoholic beverages spiked by 3.1 per cent in the 12 months to January 2026, per the Australian Bureau of Statistics (ABS).
That’s on top of years of rising grocery prices that have hit Aussies in the hip pocket.
An inquiry into price gouging and unfair pricing practices released in 2024 found the cost of cheese alone increased by 27.3 per cent between March 2021 and September 2023.
The cost of bread rose by 24.1 per cent, milk got 22.7 per cent more expensive, and eggs also saw a 19.7 per cent price hike.
According to the inquiry, the total price of a staple shopping basket rose by more than 15 per cent in that time period.
That’s on top of rising housing costs, which have left many Aussies struggling to make rent.
The national median rent leapt from $420 per week in 2020 to $650 per week in 2025, marking the lowest level of rental affordability on record.
Meanwhile, the national median house price has hit $1.28 million, making homeownership an impossible dream for many families.
Diesel hit a record three dollars a litre in parts of the country over the weekend.
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