How to tell your kids the family is under financial pressure, according to a child psychologist

As the cost of living rises, parents could be reconsidering after-school activities like sports that come with a price tag. (Virginia Tapp: ABC )

After 10 rate rises in a row, massive increases in rental prices, power and essentials like food and fuel, something has to give.

Families are weighing up where every dollar goes and whether to pause or cancel sporting memberships, change schools or move house to save money.