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.

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.

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.

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.

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.

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!

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

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