According to Ubank’s Financial Wellbeing Study:

Nearly eight in ten Australians (78%) say cost of living is the biggest issue facing the country.
One in three (33%) Australians aged 18–25 say they feel financially stretched, compared to one in six (17%) overall.

As cost-of-living pressures persist, Ubank has enhanced Cash Flow, its in-app feature that provides customers with a big picture view of their finances, with transaction re-categorisation, custom tagging and new budgeting tools designed to help customers better understand and manage their money.

Ubank’s Financial Wellbeing Study highlights the scale of financial pressure, with one in three (33%) Australians aged 18–25 saying they feel financially stretched. At the same time, Ubank customer data suggests regular engagement with money management tools can support better financial outcomes. Customers aged 18 to 35 engage with the app around 20 times per month and are three times more likely to set savings goals and build higher balances, while also being twice as likely to plan ahead for upcoming bills.

In an increasingly tap‑and‑go, subscription‑driven world, rising costs are also making it harder for Australians to keep track of where their money is going day to day.

The new Cash Flow features help customers gain a clearer picture of their finances, stay on top of budgets and develop stronger saving habits.

Budget by category

Cash Flow automatically sorts transactions into more than 50 categories, helping customers better understand their spending and overall financial picture. Customers can track spending against their pay cycle or view it weekly, fortnightly or monthly, with top categories and merchants highlighting where they spend the most. They can also recategorise transactions and apply custom tags for a more personalised understanding of their finances.

Ubank has also introduced Budgets within Cash Flow, enabling customers to set monthly spending targets by category or merchant and see at a glance how they’re tracking throughout the month.

Ubank will also introduce Round Ups in August, helping customers turn everyday transactions into automatic micro-savings by rounding purchases to the nearest $1 or $5 and transferring the difference into a nominated Save account.

Designed around customer needs

Andrew Morrison, Chief Customer and Digital Officer at Ubank, said younger Australians don’t just want to see their money, they want to understand the bigger picture and take control.

“With one in three Australians aged 18 to 25 saying they feel financially stretched, having greater visibility and control over day-to-day spending has never been more important,” he said.

“We’re seeing customers actively look for ways to better understand where their money is going, stay on top of bills and spending, and build lasting financial habits. Those insights have shaped every feature within Cash Flow through ongoing user testing.”

“With enhanced categorisation, custom tags and budgeting tools, Cash Flow makes it easier to understand spending, stay on track and build better financial habits,” said Morrison.

That focus on real-life usability is already making a difference for customers.

Tag team: Sharelle and Ubank tackle co-parenting finances

Sharelle, a busy working mum from the NSW-Victoria border region, knows how quickly household expenses can add up. From groceries and activities to fuel and unexpected costs, keeping track of spending has become even more important as cost-of-living pressures continue to bite.

“Something I’ve learned over the years is that visibility is power,” says Sharelle.

Sharelle who uses tags to keep track of shared expenses with her co-parent, said the feature has made managing finances much simpler.

“Using tags means I can generate a statement of my transactions with one click, making shared financial management much simpler. Tags have turned something I used to procrastinate over into a simple task I can knock over while waiting in the supermarket queue,” Sharelle said.

The busy mum puts the Ubank app at the top of her tried-and-tested list.

“Of all the banking apps I’ve used, and I’ve tried most of them, Ubank is head and shoulders above the rest for managing your everyday banking and budgeting needs. It’s a little bit of ‘peace of mind’ in my back pocket,” she said.

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For media enquiries, please contact Media@Ubank.com.au

Ubank Financial Wellbeing Study
The research was conducted over the period 4-17 February 2025 by NAB Behavioural Economics and is based on the responses of a representative sample of 1064 Australians aged 18 years and over.

Ubank customer data
Ubank customer data is based on aggregated, anonymised insights from recent customer app usage.

About Ubank
Part of the NAB Group, Ubank is Australia’s first homegrown digital bank, helping more than one million customers do money better. Designed to fit the lives of young Australians, Ubank makes it easy to organise your banking around your life. With helpful tools, real-time insights and personalised features that help you get ahead, money just makes sense with Ubank. With clear, simple and secure banking that helps you to feel more in control, Ubank is money done better for the next generation.

Ubank’s enhanced Cash Flow helps younger Aussies see the bigger picture on spending