Laggard Australians: Financial Trends & Policy Shifts in 2026

Financial laggards are Australians who resist or delay adopting new financial strategies, digital tools, or investment opportunities. They may stick with outdated banking methods, ignore emerging investment trends like green bonds or ETFs, or delay switching to lower-rate mortgages despite rising interest rates. In 2026, the divide between early adopters and laggards is growing wider due to:

• Rapid digitalisation of financial services (e.g., open banking, digital wallets, real-time payments)

• Policy incentives for sustainable investing and home energy upgrades

• Rising cost-of-living pressures and shifting economic conditions

According to a 2026 report by the Australian Bureau of Statistics, around 22% of Australians over 45 identify as uncomfortable with new financial technology, making them more susceptible to missed savings or investment opportunities.

Being a laggard isn’t just about missing out on the latest fintech app. It often means paying more in fees, earning less on savings, or failing to access government incentives. Consider these scenarios:

• Homeowners: Those slow to refinance in response to the RBA’s 2024–2026 rate hikes could pay thousands more in interest.

• Retirees: Superannuation funds now offer tailored ESG options and digital advisory tools, but laggards relying solely on paper statements may miss out on superior returns or lower fees.

• Small business owners: Government-backed digital invoice programs are streamlining cash flow in 2026. Laggards sticking with manual invoicing face slower payments and higher admin costs.

The Australian Government’s 2026 Digital Economy Strategy highlights that tech-savvy consumers are saving an average of $2,100 annually by switching energy providers, utilising comparison platforms, and leveraging digital budgeting tools.

Recognising the risks of financial exclusion, recent policy moves aim to bridge the gap for laggards:

• Open Banking Expansion: In 2026, all major banks are required to offer customers seamless data-sharing, making it easier for even the least tech-savvy Australians to access better deals.

• Digital Literacy Grants: The Federal Budget allocated $60 million to programs helping older Australians and rural communities upskill in digital finance.

• Mandatory Comparison Tools: New ASIC guidelines require lenders and insurers to offer side-by-side digital comparisons, reducing the research burden on less-engaged consumers.

Financial institutions are also introducing more user-friendly platforms and in-branch digital coaching, aiming to turn laggards into confident participants in the financial ecosystem.

Staying ahead doesn’t mean jumping on every trend, but it does require proactive engagement. Here’s how you can avoid laggard status in 2026:

• Review your products annually: Set a calendar reminder to check if your home loan, super, or insurance is still competitive.

• Try one new tool: Experiment with a budgeting app or comparison site this year.

• Embrace digital ID: With myGovID now accepted by most banks and agencies, going digital is safer and more convenient than ever.

• Ask for help: Banks and community groups are expanding free digital finance coaching, especially for over-50s and multicultural Australians.

By taking small steps, you’ll ensure you’re not left behind as Australia’s financial landscape continues to evolve at breakneck speed.