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Sound Check
November 2023
We asked over 50,000 Upsiders to check-in on their financial wellbeing.
Here’s what they told us.
All figures taken as of November 13th 2023. Sample size = 54,161 Upsiders.
Aussies are feeling pretty “meh” about money
The median reported Financial Wellbeing score across all Upsiders was 55/100, falling a little short of hitting any high notes.
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Boomers are topping the charts
Baby Boomers had the highest median Financial Wellbeing score at 65 out of 100, with Millenials (Gen Y) up next with a median score of 60. Gen X and Gen Z both reported a median score of 55.
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But overall, we’re striking an optimistic chord
Upsiders reported feeling less than amazing about money at the moment, but also felt their feelings were improving.
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Despite the many obstacles in our way
Almost half of Upsiders are singing the blues about overspending on shopping, going out and other leisure activities, while a third pointed to the current high cost of living as a key issue for their financial goals falling flat.
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Older Upsiders blame the economy, while younger Upsiders blame themselves
More than half of Gen Z were more likely to attribute difficulties in getting ahead with money to their own overspending, but among almost half of Baby Boomers, Gen X and Gen Y, the high cost of living takes centre stage.
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But Hi—Fi is orchestrating a turnaround for all
Over two-thirds of Upsiders reported an improvement in how they feel about money since taking control of their financial wellbeing with Up. We’d call that a pretty sound result!
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About Hi—Fi: Your Financially Sound System
Hi—Fi by Up is the future of money management — a simple, automated system that will have you cruising between pay days, confident your bills are sorted, savings goals on track, and a clear understanding of how much you can spend on the good life.
Learn more about Hi-Fi![](/static/info-graphic-7-9601fcc61fe111dc8e68deb10f357be0.png)
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