Revealed: The true cost of Aussie Friendships

New research reveals young Australians are losing nearly $2,000 a year on shared expenses — from rent and bills to group dinners, holidays, and gifts — often thanks to vague IOUs, forgotten debts, and fuzzy financial etiquette.

To tackle these relaxed (but costly) money habits, Up — Australia’s most loved digital bank — has launched Groups, a smart new in-app feature that removes the awkwardness, admin and “I’ll get you next time” moments from splitting costs with mates.

Built seamlessly into the Up app, Groups lets users split and track expenses in real time, chat within the group, and settle up effortlessly — no spreadsheets, no chasing, no awkward reminders.

“Sharing life with your mates is priceless. Splitting the bill? Not so much,” said Vivin George, Senior Customer Insights Specialist at Up. “Groups removes the emotional and logistical friction from shared expenses so friends can focus on the good times — not the admin.”

With 87% of young Aussies saying they want a simpler, more social way to manage shared costs, Groups couldn’t have arrived at a better time.

“We built Groups to take the hassle — and the awkwardness — out of sharing costs with mates and family members,” George continued. “It’s not just about splitting one bill in the moment — it’s about stacking expenses over time, so there’s less admin and more time for living. Whether it’s weekend getaways, household costs, or regular catch-ups, Groups lets you track everything in one place, keep the banter flowing with our chat thread, and settle it all with a single, seamless payment. No other tool makes shared spending feel this easy — or this fun.”

Research commissioned by Up¹ found:

• 86% of young Aussies have had fallouts with friends over money
• 78% say it has negatively affected their relationships
• 80% of share-house dwellers have faced bill-related tension
• 71% say they’ve overpaid their fair share for group meals in the past year
• 74% have struggled to split travel costs fairly The emotional toll? 30% feel awkward, 29% feel stressed

The financial toll? Aussies are overspending an average of $299 annually on group costs, with spikes in:

• Shared housing ($510)
• Travel ($328)
• Entertainment ($312)
• Gifting ($309)
• Dining ($299)

“Let’s face it, talking about money with mates is still one of the last great taboos,” said Vivin George, Senior Customer Insights Specialist at Up. “Groups make it easier by doing the talking for you — it tracks, splits and settles shared costs so there’s no stress, just straight-up fairness.”

Groups is the latest addition to Up’s growing suite of multiplayer money tools. It lets friends:

• Create shared expense groups (e.g. “Housemates” or “Bali Trip 2025”)
• Split bills and track who owes what — all inside the Up app
• Chat in real time with friends and family on Up, complete with reactions and GIFs via the in built chat feature (no more awkwardly swapping apps)
• Settle up instantly with a single tap
• No clunky spreadsheets. No forgotten debts. No drama. Just shared costs made simple.

Up continues to redefine banking, pushing boundaries with tools that reflect how people actually live, spend, and share money today. With Groups, Up is helping Australians focus less on financial admin and more on the moments that matter.

Groups is now live in the Up app. To learn more, visit up.com.au or download the app via the App Store or Google Play.