Australians are doing it tough.
With COVID continuing to impact lives and businesses - and with high interest rates, unaffordable housing and the crippling cost of living - there’s a general malaise about having missed out on some of our “best years”.
So in order to build up capital once again, and get on top of any loans, debts or mortgages we’ve accumulated recently, thousands of Aussies are turning to digital bank Up, which is backed by Bendigo and Adelaide Bank.
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Based in Melbourne, Up is Australia’s largest and highest-rated mobile-only banking app built by creatives and engineers - rather than bankers - that is designed to make money easy.
The app is filled with social features like “bill slicing” and asking for cash requests from your friends, as well as having no currency conversion mark-ups and no extra ATM fees.
It’s free to download, has no monthly fees and you can sign up in as little as three minutes.
Up also has a wildly successful in-app game called “Save Up 1000”.
More than 54,000 “Upsiders” are currently active in the game, which leans on behavioural psychology to help you build healthier money habits.
Each week, over the course of a year, you’ll be nudged in-app to pick one of a few amounts to save. Some big. Some small.
Up will then stash your cash safely away so it will add up, although if you need it, that’s OK, you can just close your challenge.
Of the Upsiders who finished the challenge, 55 per cent said they felt “euphoric” about their achievement, 88 per cent said they felt like a better saver than when they started and more than 1000 said it was the first $1000 they had ever saved.
Up has been helping 700,000 Australians make money and save for more than five years now.
To read more about the bank, and its terms and conditions, visit the website here.
Disclaimer: This story contains general information about a product and is not intended as financial advice. Before acting on any investment information that may be included in this article, consider your financial situation and objectives, and seek your own professional advice.
