Financial consciousness is the extent to which a person is conscious or aware of their ability to change their own financial outcomes, including their willingness to act, and their sophistication when it comes to money matters.
For the third year running, Compare the Market has commissioned Deloitte Access Economics to test the nation, to reveal the average Australian’s financial consciousness score. It’s hard to imagine a tougher year for Australians – who have had to contend with ruthless bushfires and twin health and economic crises – despite all this, or even because of it,the average Australian’s financial consciousness score has risen to 51 out of 100, an improvement on 2019’s score of 48.
So, how financially conscious are you feeling at the moment? Take our quiz to find out now!Take the quiz
If you had to accurately tell someone the balance of your superannuation without looking it up, could you do it?
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Ruthless bushfires, followed by twin health and economic crises – never before has there been a more relevant time to understand Australia’s financial consciousness. This report is designed to elicit truthful answers from over 3,000 Australians on their financial understanding, experiences and concerns. Read on for the full results.Read more
Download the report: PDF
If you had to accurately tell someone the balance of your superannuation account without looking it up, could you?