• New research reveals half of younger Aussies are optimistic they will live a happy life; 55% hopeful they will own their own home despite 52% citing money as their top worry.
• Ubank launches Split Income, a new feature in the app which allows customers to automatically split their income between their Spend, Bills, and Save accounts on payday.

14 May 2025 – New research from National Australia Bank’s digital bank, Ubank, has revealed that younger Australians are optimistic about their financial future, despite rising costs of living, housing affordability pressures, and economic uncertainty.

The study, conducted by NAB Behavioural Economics on behalf of Ubank, found that while many social, political, and economic challenges disproportionately affect younger Australians, they still believe they can achieve their goals.

Optimism and a sense of control despite challenges

The research found that almost one in two (48%) of all Australians feel positive about the future. Half of 18-35 year olds share this optimism and believe they will live a happy life, with approximately 55% optimistic about living where they want to.

Younger Australians are more optimistic about their financial futures compared to older generations, with 55% hopeful about owning their own home, 53% optimistic about starting a family, and 54% confident in having enough money to save and invest. Additionally, 60% feel positive about working in a field they enjoy, 61% believe they will find a well-paying job, and 41% have confidence in being able to own their own business.

Encouragingly, 2 in 3 (63%) Australians feel in complete control (14%) or mostly in control (49%) of their lives. By age, the number who felt in complete control was much higher in the 18-25 (20%) and 76+ age groups (20%).

Concerns and worries persist

The research also highlighted the top concerns for Australians of all age groups and unsurprisingly the cost of living was cited as the most important issue facing the country today. However, this figure drops to 65% for 18-25 year olds, increases to 79% for 26-35 year olds, and peaks at 83% for Australians aged 46-55.

Housing access and affordability ranked as the second biggest issue nationally, with just over half (51%) of Australians citing it as top of mind. This concern is particularly pronounced among 26-35 year olds, with 62% expressing high levels of concern.

When asked about their main worries, Australians aged under 35 cited money worries the number one driver keeping them up at night (52%).

Money management features supporting financial wellbeing

The research comes as Ubank introduces Split Income, a new feature in the app which allows customers to automatically split their income between their Spend, Bills, and Save accounts on payday. The feature is a simple and easy way to budget, manage bills and committed expenses, save for a goal, and avoid living paycheck to paycheck.

This smart money management feature builds on the success of Pay Cycle, which is helping 23% of Ubank’s app customers by displaying the time until the next payday, providing insights into income and expenses, and thereby empowering customers to manage their cash flow effectively.

The great Australian dream

The research also revealed a younger generation with the drive to pursue the great Australian dream with 55% of 18-35 year olds hopeful about owning their own home.

At 26 years old, Brisbane local Steven Uspensky has already purchased his own home in Logan, Queensland. For Steven, buying property early was less about chasing wealth and more about achieving his life goal by building a stable future for himself and his future family.

Working as a sales representative and living at home with his parents, Steven made a conscious decision to prioritise saving. “Saving for a deposit took discipline,” Steven said. However, he didn’t cut out enjoyment entirely, but set clear boundaries for his spending, balancing living in the moment with planning for the long term. “Just because you have money in your account doesn’t mean you have to spend it. I always thought about delayed gratification — sacrificing a little now to gain a lot later,” he said.

Before attending open homes, Steven carefully mapped out his borrowing capacity, contacted 10 banks, and identified Ubank as the standout option. “Ubank offered a lower rate and great borrowing capacity,” he said. Steven also formed a trusted connection with his Ubank lending specialist, Lynda, who guided him through the borrowing process with expertise and care.

Andrew Morrison, Ubank’s Chief Customer Experience Officer, said: “Just like the research suggests, when we speak to our customers, we see an optimistic, engaged, and empowered generation seeking to take greater control of their money, better understand their finances, make more informed decisions, and have greater input into their futures.

“They recognise the challenges but believe they can still achieve their goals, including the great Australian dream of home ownership, even if it takes longer than for previous generations. That’s why we’re building fast and simple digital products and services across everyday banking and home lending to help them reach their financial goals,” he said.

ENDS

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For more Ubank Newsroom stories, visit: www.ubank.com.au/newsroom.

About Ubank

Ubank is a multi-award-winning digital bank on a mission to make daily money success achievable for anyone. We believe the way to get there is to give our customers better visibility of their finances, so that they can make more informed choices and build a more positive relationship with money. Ubank helps people to see the possibility in their money and gives them the tools to reach their goals. Expressed simply, our philosophy is that when you can see money better, you do money better.