Thu Sep 19 08:51:08 UTC 2024: ## NAB Launches New Tool to Combat “Bill Shock” in Australia
**Sydney, Australia – September 19, 2024** – Despite growing financial awareness among Australians, a recent study by National Australia Bank (NAB) reveals that one in four Australians experienced “bill shock” in the past quarter.
The study found that while 60% of Australians have a high understanding of their spending, 25% missed a bill payment, primarily for utilities such as water and electricity. Missed payments were most common among young adults aged 18-29, with 41% reporting missing a bill compared to just 9% of those over 65.
To address this issue, NAB is launching a new tool called “Upcoming” within its mobile app. “Upcoming” predicts upcoming bills and subscriptions based on previous payments, providing users with a 30-day outlook on their expected expenses.
“Even with good financial habits, it can be hard to track all the bills that come through,” said Kylie Young, NAB’s Personal Everyday Banking Executive. “Upcoming will help customers plan for these expenses and avoid unexpected surprises.”
NAB also encourages customers to utilize other strategies to manage bills, including:
* **Bill Smoothing:** Utilizing installment plans or bill smoothing offered by utility providers to spread payments over time.
* **Negotiating Rates:** Contacting service providers to negotiate better rates or compare options for potential savings.
The “Upcoming” tool will be available to all NAB customers by the end of October 2024.
First Piper 