More than half of Kiwis worry about money weekly as financial pressures remain
A new survey shows 55% of New Zealanders worry about money either daily or weekly.
Those “very” or “somewhat” concerned about the overall economy rose to 51%.
Only 44% of New Zealanders said they feel financially prepared for retirement.
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More than half of New Zealanders worry about money weekly amid persistent financial pressures, according to a new survey.
The Financial Services Council’s (FSC) latest Financial Resilience Index found 55% of New Zealanders – equivalent to just over two million people – worry about money either daily or weekly.
Despite concerns around inflation, house prices and interest rates easing slightly compared with last year, 83% remain “very” or “somewhat” concerned about inflation.
Meanwhile, the number of people feeling “very” or “somewhat” unconfident with the overall economy rose to 51%, up from 49% in 2024.
“These results show that while there’s potential for optimism, many households are still feeling the pinch,” said FSC chief executive Kirk Hope.
“The data reflects that financial pressure hasn’t disappeared.”
Financial issues also had an impact on the wellbeing of those surveyed, with 59% reporting their mental health had been affected.
Younger generations remain the groups that worry about money more regularly, with 35% of Gen Z worrying about it daily compared with Gen Y (30%), Gen X (31%), and Baby Boomers (16%).
Job security dropped, with 80% reportedly feeling either completely, very or reasonably secure in their current employment, down from 85% in 2024.
“Job security remains high but there is a small downward trend,” the report said.
Only 44% of New Zealanders said they feel financially prepared for retirement, down 6% from last year.
“At present, fewer than half of Kiwis feel financially prepared for retirement – a phase of life that should be defined by security and peace of mind,” Hope said.
KiwiSaver remains the top investment New Zealanders have, with 81% of Kiwis enrolled – more than double the 40% who hold cash investments like term deposits.
“With KiwiSaver being the primary investment vehicle for most New Zealanders, it’s essential that we re-examine settings around contributions and enrolment,” Hope said.
“Ensuring people can maximise the benefits of KiwiSaver is critical not just for their retirement, but for the long-term financial wellbeing of the country.”
A recent BNZ Voice survey found squeezed households were resorting to high-interest credit fixes to juggle back-to-school and work costs.
More than a third (37%) said they were turning to high-interest lending such as buy now, pay later services and credit cards to cover costs.
The biggest start-of-year expenses were stationery (53%), transport (42%), school and work uniforms (42%) and technology-related costs (40%).
Meanwhile, financial hardships in February were 16% higher year on year compared with a year ago, according to Centrix data.
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Poll: Are our Kiwi summer holidays helping us recharge, or holding the economy back? ☀️🥝
There’s growing debate about whether New Zealand’s extended Christmas break (and the slowdown that comes with it) affects productivity.
Tracy Watkins has weighed in ... now it’s your turn. What’s your take? 🤔
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73.2% We work hard, we deserve a break!
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16% Hmm, maybe?
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10.8% Yes!
Secure your homes over summer
Police are reminding people to keep their homes secure during the summer months.
Inspector Glenda Barnaby, Christchurch Area Prevention manager, says daytime burglaries are just as common as nightime burglaries.
“Burglaries can be committed at any time of the day, and coming into warmer months there is more opportunity for thieves."
"Although a majority of burglaries involve forced entry through windows and doors, we are starting to see more incidents at insecure premises. Police deal with cases where burglaries are committed in broad daylight, sometimes even while the victim is at home. Good weather means open doors and windows, which makes homes more vulnerable to burglars.”
Inspector Barnaby says there’s a few things people can do to reduce their changes of a burglary being committed.
⚠️ If you’re going outside for gardening, relaxing in the sun, or working in the garage, take a moment to lock your doors and secure your windows first.
⚠️ Do the same at night when you go to bed - keep your doors and windows secure and close your curtains. Fitting window stays means you can get a breeze coming through, while keeping your windows secure.
⚠️ Get to know your neighbours - let them know if you’re going away and look out for one another.”
If you see any suspicious activity, people or vehicles in your neighbourhood, don't hesitate to contact Police.
If you witness or suspect any illegal activity, please call 111 if it is happening now, or make a report through 105 either online or over the phone, if it is after the fact.
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