In just a few decades, the way we use and manage money has changed beyond recognition. What was once a tangible, deliberate process—physically handing over cash, writing cheques, or visiting the bank—has become instant, invisible, and automatic. Technology has made spending easier than ever, but with that convenience comes a cost: the loss of financial control.
Many people find themselves struggling to budget, battling unexpected expenses, and wondering where their money goes each month. With digital payments, automated subscriptions, and tempting Buy Now, Pay Later (BNPL) schemes, financial discipline has never been harder. It’s no wonder that saving for a deposit on a home feels impossible when property prices have soared to 12 times the average salary—a stark contrast to the 3 times salary benchmark in the 20th century.
So, how did we get here? Let’s take a look at some of the key financial shifts that have shaped the age of effortless spending.
A Timeline of How Technology Took Control of Our Wallets
2009: Monthly Pay Cycles Become the Legal Minimum
The shift from weekly or fortnightly pay to monthly wages means Australians must stretch their salary over a longer period. Budgeting becomes harder, and financial stress increases.
2010s: The Rise of Subscription Services
From Netflix and Spotify to meal kits and gym memberships, everything moves to a recurring payment model. These small, regular payments feel insignificant at first, but they add up—often without us noticing.
2015: Tap-and-Go Payments Take Over
Contactless cards and mobile payments replace cash, making transactions faster and more seamless. But the ease of tapping to pay means we spend more impulsively and keep less track of our purchases.
2016: Buy Now, Pay Later (BNPL) Takes Off in Australia
Afterpay, Zip, and similar services encourage shoppers to split payments into instalments. What was once reserved for large purchases—like furniture or appliances—is now common for everyday items, increasing the risk of debt.
Late 2010s: The Rise of Gambling Apps
Online betting platforms make gambling accessible at any time, anywhere. With in-app promotions, instant deposits, and seamless withdrawals, the barrier to entry is lower than ever—leading to financial strain for many.
2018: Social Media Algorithms Supercharge Targeted Ads
AI-powered advertising tracks browsing habits and spending patterns, ensuring that tailored shopping deals, BNPL offers, and impulse-buy recommendations appear right in our feeds. The line between social media and online shopping blurs.
2020s: The Smartphone Becomes the New Wallet
Mobile banking, digital wallets, and instant money transfers mean our finances are always at our fingertips. While this is convenient, it also makes it easier to spend mindlessly—reducing the connection between work, money, and savings.
The Real Cost of Convenience
The shift towards digital money has made spending effortless, but it has also made saving and budgeting more difficult than ever. Unlike cash, which gives a clear visual reminder of how much we have left, digital transactions happen in the background—leaving many people unaware of how much they’re actually spending.
Meanwhile, businesses and tech companies design payment systems to keep us spending. Subscription services automatically renew, targeted ads tempt us with offers we can’t refuse, and BNPL schemes turn everyday purchases into long-term repayments. The result? More Australians living paycheque to paycheque, accumulating debt, and struggling to save for their financial goals.
Taking Back Control
If we want to avoid falling into the trap of effortless spending, we need to be intentional with our money. Here are three simple ways to take back control:
- Pause Before You Pay – Before making a purchase, ask yourself: Do I really need this? The speed of digital payments makes it easy to act on impulse, so adding a short delay—such as a 24-hour wait period for non-essential purchases—can help.
- Review Your Subscriptions – Many people have forgotten subscriptions quietly draining their accounts each month. Check your bank statements, cancel unused services, and set reminders for renewal dates so you stay in control.
- Set a Spending Plan – Instead of just hoping to save, give every dollar a purpose. Create a budget that prioritises savings first and limits discretionary spending—especially on automatic payments like subscriptions and BNPL.
Technology has transformed the way we spend money, but just because something is easier doesn’t mean it’s better. In a world built for frictionless transactions, being financially aware is more important than ever. The good news? With the right mindset and habits, we can adapt to these changes and regain control over our money—rather than letting technology control us.
The question is: Are you spending with purpose, or are you just tapping and hoping for the best?
Marc Bineham – Speaker, Coach, and award-winning author of The Money Sandwich