They say “money talks” but many Australians have been less than honest about their spending habits and personal wealth according to new Compare the Market research showing almost half the nation has lied about money.
The nationally representative survey of more than 1,000 Australians found an alarming 47.1% of people had lied about their financial situation, with fibs to disguise their salary, savings and spending.
Younger Australians were more likely to have lied about money – dominated by Generation Z (74.2%), followed by Millennials (56.2%), Gen X (41.2%) and Baby Boomers (22.1%).
The trend may be linked to other compounding factors, with Gen Z also more likely to experience financial stress due to cost-of-living pressures.
Top five money white lies
| Proportion of responses | |
| I lie about how much savings I have | 11.3% |
| I lie about what I’m spending money on | 10.0% |
| I lie about how much I spend on coffee and takeaway | 7.6% |
| I lie about how much I spend on clothes | 6.8% |
| I lie about how much I earn | 5.2% |
Source: Compare the Market
More than one-in-four Australians haven’t been able to save as much as they usually do in the past 12 months (26.0%), while a portion admit their savings have been going backwards in the last year (20.3%).
Concerningly, nearly one-in-10 said they had no savings and were in debt (9.3%).
Top budgeting goals included:
- To have more savings (44.7%)
- To go on an international holiday (22.7%)
- To go on a domestic holiday (22.6%)
Compare the Market’s Economic Director David Koch said the cost-of-living crisis had prompted a more open public conversation about personal finances, however pressure on individuals to appear happier and healthier remained.
“Australians are under a lot of financial pressure. While inflation is slowing, and we’re past the cash rate’s peak, things aren’t going to get easier or cheaper overnight,” Mr Koch said.
“The cost of lifestyle for younger generations is an added pressure and could be a reason for white lies – they’re pressured to live a better lifestyle than they can really afford.
“Money has been a taboo subject for a long time, and while a lot of Australians are getting better at talking about their finances, they’re not always honest.
“Some people feel ashamed about their financial situation. Others may feel social pressure to exaggerate or hide certain details, to keep up with their peers.
“When it comes to discussing finances with your partner, family or friends, honesty is the best policy – especially when your decisions impact the household.
“And if you know someone who is struggling, approach them with kindness and understanding. Help is out there – and it’s much better to be proactive than to let debt and other issues snowball.”
Compare the Market commissioned PureProfile to survey a nationally representative sample of 1,013 Australians in June 2025.
When referencing this research, please attribute: https://www.comparethemarket.com.au/news/money-white-lies-2025/
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