Wesley Mission staff are already seeing the effects of the crisis, with 448 families seeking emergency relief, food and financial assistance in the past three months a 25 percent increase on the previous period.

With record household debt, many families have borrowed to their capacity, said Wesley Mission CEO Keith Garner.

A job loss, or even an injury or serious illness, can be a disaster for these families.

Reverend Garner said the situation would worsen post-Christmas as credit card bills fell due, jobs were cut and employment declined.

Wesley Mission helped more than 200,000 people through 235 programs across NSW in the past year.

Access Economics predicts at least 150,000 more people will turn to charities for help because of the financial crisis.

The lack of affordable housing and a tight rental market is also putting extra stress on many families.

As the crisis has deepened, Wesley Creditline Financial Counselling Service provided counselling and support to 4826 people, but turned away 2424.

The number of women seeking crisis accommodation grew from 148 to 227 up 53 percent on the previous year.

Donations can be made by phoning 1800021821 or visiting the Wesley Mission website: www.wesleymission.org.au/donate