How financially conscious are you?

On average Aussies score 51.2 out of 100, putting them right in the middle of our ‘Financial Consciousness’ scale, which ranges from Financial Enlightenment to Financial Ignorance. Want to know where you are? Take our quiz to find out!

Don’t know what you don’t know (<35)

If you’re in this category then it means you’re at the lower end of the Financial Consciousness spectrum. You don’t necessarily “know what you don’t know” and without a little bit of help, it could make it difficult for you to improve your financial outcomes. You have a basic understanding of financial literacy concepts, but may find it hard to apply this understanding to your financial decisions and planning. The most important thing you can do to improve your financial situation is to be more proactive. We’ve developed a handy book to help you take this step. Chapters One and Two in particular talk about how to be more proactive with your money to move from a Financially Dire situation into a more Financially Well situation. There are also some useful exercises that can help motivate you to unlock your financial dreams.

It’s a blur (35-44)

If you’re in this category then it means that your financial understanding and how you can improve your financial position is a bit of a blur. The fact you know that you could do better is a great first step. The next step should be for you to read our handy book on how to improve your financial situation. It’s full of useful exercises and tips to help you realise what you’re missing out on, where you’re falling short when it comes to managing your finances, and how you can do things to achieve bigger and better financial dreams.

Financially Conscious (45-54)

Congratulations – you are financially conscious! You have a decent financial capability and you are willing to improve your financial position when it comes to matters of the hip pocket. Importantly, you know that you are the master of your financial outcomes. But it’s not all roses! In order to move up the ranks and become Financially Enlighted, try reading our useful eBook. It’s full of practical exercises and tips to help you realise what you’re missing out on, where you’re falling short, and how you can do things better to help you realise your financial dreams.

Rising up the ranks (55-69)

Keep up the good work! You’re rising up the ranks of financial consciousness, and have scored well on financial capability and willingness to make a change. It’s likely that you make financial goals and plans and importantly stick to them! You’re also proactive when it comes to financial matters, and have the capacity to acquire new financial knowledge and reflect on how this influences your financial decision making. You are nailing it, but there’s always room for improvement! Try reading our useful eBook, to help you take the next step to Financial Enlightenment.

Enlightened (>70)

Ahhhhh… can you hear the angels singing?! You are at the peak of Financial Consciousness, and have some seriously impressive control over your financial outcomes, capability, willingness and sophistication. You know the importance of following wider economic changes and have a solid plan in place for a financially well future. You are informed, proactive and savvy with your finances. Even though you’re at the top of your game, you can always learn more (and we bet you’d enjoy it)! So, check out our handy eBook, which can help you on your journey to financial nirvana.


So what do these scores mean?

55 Your score

12%
Don’t know what they don’t know (<35)
21%
It’s a blur (35-45)
27%
Financially Conscious (45-55)
31%
Rising up the ranks (55-70)
9%
Savvy and enlightened (>70)
51 Average Australians score
Source: Deloitte Access
55
Your score
51
Average Australians score
<35
Don’t know what they don’t know
(12% of Australians)
35-45
It’s a blur
(21% of Australians)
45-55
Financially Conscious
(27% of Australians)
55-70
Rising up the ranks
(31% of Australians)
>70
Savvy and enlightened
(9% of Australians)

Source: Deloitte Access

And who sits in this group?

Next steps

So you’re on the lower end of the Financial Consciousness spectrum – but that’s ok, the only way to go is up! The most important thing you can do right now to improve your financial situation is to be more proactive. We’ve developed a handy book, Money made Simples, to help you take this step. Chapters One and Two in particular talk about how to be more proactive with your money to move from a Financially Dire situation into a more Financially Well situation. There are also some useful exercises that can help motivate you to unlock your financial dreams so what are you waiting for?

Your financial understanding and how you can improve your position is a bit blurry. But the fact that you know you could do better is a great first step to moving up the ranks of financial well-being. The next step should be for you to read our handy book, Money made Simples, on how to improve your financial situation. Chapters Two and Three in particular will help you work out your money goals and how to recognise the good, bad and ugly types of debt. Start designing a life you’re excited by today.

Great work – you have a decent financial capability and you are willing to improve your financial position when it comes to matters of the hip pocket. Now it’s time to aim higher for a financially enlightened future. Check out Chapters Three and Four of our eBook, Money made Simples, and learn how to be strategic with your debts and bank accounts, as well as ways on how to save up more cash. Take matters into your own hands and improve your money habits.

Look at you go – you’re rising up the ranks of financial consciousness, and have scored well on financial capability and willingness to make a change. However, there’s always room for improvement! Try reading our useful eBook, Money made Simples, to help you take the next step to Financial Enlightenment. Chapters Four and Five will help you reach that next money milestone by taking you through the journey of account management and investing in shares and funds. You’re almost there, so grab a pen and some paper and get to work!

Pop that champagne bottle because you are at the peak of Financial Consciousness, and have some seriously impressive control over your financial outcomes, capability, willingness and sophistication. Even though you’re at the top of your game, you can always learn more and expand your knowledge base. So, check out our handy eBook, Money made Simples, and turn to Chapters Five and Six to create a simple yet effective money maintenance routine to sustain your already pristine money habits. Start your journey to financial nirvana today.

Download Money made Simples eBook

The Psychology of Money

Chapter one – The psychology of money

Understanding what you believe about money and how that translates into your actions is incredibly powerful. It’s the first step in your new financial mindset, which will help you move from financially dire to financially resilient to financially well.

Continue reading Chapter one

What’s your relationship with money?

Money made Simples worksheet

We’re going to start by figuring out what your money story is. Grab a piece of paper and answer the following questions.

Download What’s your relationship with money? worksheet

Goals

Chapter two – Goals

Design a life you’re genuinely excited about creating for yourself, choose the path you want and consciously and deliberately take steps in the right direction.

Continue reading Chapter two

Goal setting and action plans for designing the life you want

Money made Simples worksheet

Let’s create the tangible steps you need to take in the next 12 months to start on the path to the life you want.

Download Goal setting and action plans for designing the life you want worksheet

The good bad and ugly of debt

Chapter three – The good bad and ugly of debt

There’s good, bad and OK types of debt. Yes, debt can be good

Continue reading Chapter three

Good, bad and OK debts

Money made Simples worksheet

Look at the debt you currently have and split each debt type into good, bad and OK debts.

Download Good, bad and OK debts worksheet

Everyday finances

Chapter four – Everyday finances

You’ve begun to work out a plan for what the next 12 months will look like. But what about the everyday? Wouldn’t it be helpful to have someone hand you some useful tools so that you don’t stumble at the first hurdle and maybe even help you clear the path?

Continue reading Chapter four

How to Find More Cash

Money made Simples worksheet

Some of us will have budgets in place, with every dollar allocated but there’s only one problem. You wind up about $250 short. Every month. You have a couple of choices to make to find more cash.

Download How to Find More Cash worksheet

Investments

Chapter five – Investments

There are so many ways to invest but we generally do one of two things: we default to what we know and what feels safe, which is usually property, or we do nothing because it’s just too overwhelming.

Continue reading Chapter five

Why everyone should care about shares

Money made Simples worksheet

Did you know we are all investing in the stock market through our super funds? Shares are much cheaper and more accessible than a property because you don’t need a large deposit to be involved. Do you know the three main ways that you can invest in shares?

Download Why everyone should care about shares worksheet

Maintenance

Chapter six – Maintenance

Designing the life you want, making choices about debt and investments, can end up in the too hard basket unless you set up some type of regular maintenance. Read on to learn all about simple grooming and repair tips.

Continue reading Chapter six

Money maintenance

Money made Simples worksheet

These important steps will keep you financially motivated and help you keep your foot on the pedal and continue on your money path.

Download Money maintenance worksheet