Jekyll and Hyde: Financial Dualities Australians Face in 2025

Dr. Jekyll and Mr. Hyde is more than a gothic classic—it’s an uncanny metaphor for the split personalities we can embody in our financial lives. In 2025, as Australia’s cost of living remains high and economic uncertainty lingers, Australians are increasingly caught between prudent, measured choices (our inner Jekyll) and the pull of riskier, impulsive moves (Hyde lurking in the shadows). Let’s dive into how this literary duality plays out in the world of personal finance, and how you can keep your own financial Hyde in check.

The Jekyll Side: Smart, Sustainable Money Moves

Every Australian has a bit of Dr. Jekyll in their financial DNA—the part that budgets, plans, and saves for the future. In 2025, this side is more important than ever. With inflation easing but still above pre-pandemic levels, and the Reserve Bank of Australia keeping rates steady, households are recalibrating how they spend and save.

• Embracing Budgeting Tools: Popular Australian apps like Pocketbook and MoneyBrilliant have surged in users as more people track their spending down to the dollar.

• Boosting Super Contributions: With the Superannuation Guarantee rate now at 12%, many are voluntarily topping up their super to take advantage of compounding growth—Jekyll’s signature move.

• Prioritising Emergency Funds: The Jekyll approach means building up a safety net. In 2025, Australians are aiming for at least three months’ living expenses stashed in high-interest savings accounts as a buffer against job market wobbles.

The Hyde Factor: Chasing Quick Wins and Hidden Risks

But Hyde is always lurking—tempting us to splurge, speculate, or ignore the fine print. The past year has seen a spike in buy-now-pay-later (BNPL) usage, crypto dabbling, and short-term trading, as Australians look for shortcuts in a tough economy.

• Buy Now, Pay Later Pitfalls: Despite recent ASIC reforms and tighter credit checks, BNPL remains a trap for the unwary. Over 30% of BNPL users reported late fees in 2024, according to industry data.

• Crypto Comebacks: The crypto market’s volatility drew in a new wave of investors in late 2024 and early 2025. ASIC and the ATO have both ramped up warnings and regulations, but the thrill of fast gains still seduces Hyde-leaning investors.

• Impulse Spending: With the rise of one-click online shopping and targeted social media ads, Australians are reporting higher rates of impulse purchases, often using credit cards or BNPL services—fuel for the Hyde within.

Reconciling the Two: Finding Your Financial Balance

It’s unrealistic—and perhaps unhealthy—to try to silence Hyde entirely. Some calculated risks can boost your financial trajectory. The key is recognising when you’re making a Jekyll decision (thoughtful, informed, measured) versus a Hyde one (impulsive, high-risk, or emotionally driven).

Try these strategies to keep your financial personality in check:

• Set Spending ‘Speed Bumps’: Use features like 24-hour purchase delays on banking apps to prevent impulsive buys.

• Regular Financial Health Checks: Schedule quarterly reviews of your finances, comparing your actions to your goals—are you channeling Jekyll or letting Hyde run wild?

• Automate Good Habits: Direct debits to savings or investments can help your inner Jekyll stay in control, even when you’re tempted by Hyde’s siren call.

Real-World Example: The 2025 Property Market

The split personality dilemma is on full display in Australia’s property market. While Jekylls are carefully researching suburbs, negotiating mortgage rates, and staying within their means, Hydes are diving into bidding wars, stretching their budgets, or even speculating on regional hotspots that may not hold value. Recent APRA guidelines on responsible lending are designed to protect buyers from their own Hyde moments—mandating stricter serviceability buffers and clearer disclosure on mortgage products.