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Research has revealed that 41% of young Australians under 25 don’t know how to pay their bills.

One thousand Australian bill payers from 18-65 were surveyed late last year by BPAY, with results showing that younger Australians between 18-25 in particular do not have an effective system for paying their bills.

The result was they struggled with everyday financial management.  Missed payments on credit cards and loans often carry penalties which mean they will pay more.

A key culprit is a lack of financial education provided by banks and financial institutions to their customers, particularly when they are young.

John Banfield, CEO of BPAY Group, says they could be doing more to assist and educate younger people about convenient ways to pay their bills:

“If banks and financial institutions can educate younger Australians about the simple bill paying options available, it will relieve their customers’ pain-points, building trust and value between the organisation and their customers.”

At Really Simple Money, we believe that financial education is incredibly important for everyone. Last week, hundred of members took our quiz to see how the foundations of their financial knowledge measured up.

This research commissioned by BPAY only serves to reinforce this belief, since the lack of knowledge about one of the most common financial transactions in modern society highlights the flaws in our financial education.

The survey categorised individuals into five personalities based on their habits and attitudes when it came to paying their bills. Do any of these sound like you?


Big picture organisers (28%)

Experienced and capable with their finances – but not obsessive. They seek convenience alongside security.

Life jugglers (27%)

Don’t manage their finances proactively and many lack the confidence to do so. They are keen for simple processes with customer support and information.

Rigid record keepers (19%)

Rigorous in managing their finances. Most have an effective system and keep a record of what they pay. They are less likely to report financial stress. They prioritise security and are less likely to want on-the-go functionality.

Mobile and evolving (19%)

Often pay bills at the very last minute or after the due date, and see them themselves as disorganised. This group report financial stress and many log in to their banking app at least once a day.

Novice and emerging (7%)

This group are aged 25 and under, and many still live with their parents. They are much less engaged with financial matters and less likely to be fully responsible for household bills. The bills they do get are less likely to come as paper bills or attached in an email.


Which of these personalities do you think is your best match? And tell us how you pay your bills on time. Let us know in the comments below. To help you figure it out, here is a handy infographic for you to follow (provided by BPAY):

5 bill-paying personality types via BPAY