You may already have heard about our Ultimate Money Test, a unique test for knowledge, behaviour and attitudes towards work, the economy, spending and saving money. Starting back in February we began surveying over 1,000 Australians. The results are now in, and they reveal that Australia is a nation of money savers and deal seekers. But as the results show, it isn’t all rosy!

Ultimate Money Test Infographic



Over 1,000 people took the Ultimate Money Test to see how well they would score for their knowledge, behaviours, and attitudes towards work, the economy and spending.

  • 47% passed
  • 39.7% scored average
  • 13.3% failed

The Big Findings

  • More than 75% of Australians have good savings practices and beliefs.
  • More than 62% of Australians believe that home ownership is important.
  • More than 33% of Australians have behaviours and attitudes towards work and money than can lead to financial strain.
  • More than 65% of people are confident about their skills and abilities to earn more money than they spend.
  • More than 65% of Australians have behaviours, attitudes and beliefs that holding them back financially.
  • More than 30% of Australians are big spenders based on responses to questions about their commitment to a consumeristic lifestyle.
  • More than 65% of Australians are deal seekers and coupon clippers.
  • More than 20% of Australians engage in high risk investing and gambling.
  • At least 1 out of 3 people do not keep tight control of their personal finances and credit.
  • 40% of Australians spend more than need to be on credit card interest, loans and late fees.

Credit Cards

  • 60% of people like the idea of earning frequent flyer points on their credit card.
  • 57% of people have been slugged with credit card late payment fees at least once.
  • 39% of people carry a balance on their credit card from month to month and usually only pay off the minimum.
  • 47% of people have been stung in the past when they lent cash or a credit card to someone they trusted.
  • 54% of people think that only cash makes you feel like you’ve spent money.
  • 21% of people carry their PIN in their wallet next to their cards because there’s too many passwords to remember!


  • 37% of people haven’t checked their credit report for a very long time, if ever.
  • 88% of people know how much they have in their bank accounts and on their cards to within $100.
  • 22% of people don’t check their bank statements regularly to see if there’s any dodgy transactions.
  • 46% of people have been overdrawn on their everyday banking account.
  • 38% think that the only budget they need is in their head.
  • 49% of people said that they really didn’t care how the banks use their money so long as cash is available to withdraw when needed it.


  • 28% of people stated that if it were possible, they’d withdraw home equity and raid pension funds so they could really enjoy life now!
  • 44% of people are resigned to the sad fact that they’ll be paying off a mortgage for at least 30 years.
  • 58% of people are confident that property prices can only go up!

Work and Spending

  • 63% of people are bored to with their jobs!
  • 37% of people said they wish they could stick at a job for more than a year or so but they’re always looking for the next thing.
  • 72% of people said they were pretty confident about their skills and abilities to earn money more than they spend.
  • 52% of people secretly believe that people who rack up student loan debt to study non-vocational degrees are just wasting their time.