Wisr gathered insights from over 4,000 Australians to find out how Aussies are really feeling about their finances going into 2025.
What's it all about?
Right, let's dig in
Money. For 2 in 3 of us, it’s on our minds daily. But how are Aussies really feeling about their finances going into 2025? The Money On Your Mind Report surveyed 3,488 consumers and 718 brokers in Australia to find out their attitudes towards money, credit, and the technology influencing our financial lives.
Aussies are feeling good about money
Key findings
Spoiler: 4 in 5 Aussies are feeling confident about their financial situation going into 2025. So, what’s the story behind this optimistic economic outlook? The Money On Your Mind Report unpacks this while digging deep into the money thoughts, feelings and trends currently on Aussies’ minds.
It’s all about confidence, baby
Confidence is high. Really high. 80% of Aussies are feeling confident about money going into 2025, and 47% rate their financial literacy as good or excellent. And we love that!
However, brokers have a more cautious view. Only 63% think their clients feel confident about their finances going into 2025, citing the cost of living as a key economic stressor.
Cents and sensibility
Money really is front of mind. 2 in 3 Aussies are thinking about money daily. We’re not too sure what the other 1 in 3 are thinking about, but hey, who are we to judge?
Despite the high confidence levels, 47% of Aussies said they felt they were under financial stress in 2024. Brokers and consumers are also clearly aligned on the root cause, once again calling out the cost of living as the primary catalyst.
Buy now, (re)pay later
Money habits are evolving. As we move into 2025, of those surveyed, more Aussies had Buy-Now-Pay-Later BNPL accounts than they did mortgages. This shift is just a small indication of how rising mortgage rates and the cost of living are changing priorities amidst a complex economic landscape.
Brokers are also playing a key role in helping Aussies choose loans. Consumers are looking for more than just the cheapest rate and are seeking out the experience and expertise of brokers to help them make the right choice.
Future money
Tech, trends, and the future of finance broking. We know we’re in the era of AI, but is it having a big impact on Aussies’ financial lives just yet? No, to put it bluntly. A lack of trust is a big blocker, with 4 in 5 saying they wouldn’t trust an AI chatbot to provide accurate financial information, education or advice.
So, we move from new to old. Cash is no longer king, but it’s very much in our wallets. 1 in 4 Aussies still use cash more than once a week and only 14% of us are completely cashless. The end of the cash era may be coming, but it’s not quite here yet.
Want to delve deeper?
Download the full Money On Your Mind Report for more tantalising insights.