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: As a customer, what do you think about automation?
The Press investigates the growing reliance on your unpaid labour.
Automation (or the “unpaid shift”) is often described as efficient ... but it tends to benefit employers more than consumers.
We want to know: What do you think about automation?
Are you for, or against?
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9.5% For. Self-service is less frustrating and convenient.
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43.3% I want to be able to choose.
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47.2% Against. I want to deal with people.
Even Australians get it - so why not Kiwis???
“Ten years ago, if a heatwave as intense as last week’s record-breaker had hit the east coast, Australia’s power supply may well have buckled. But this time, the system largely operated as we needed, despite some outages.
On Australia’s main grid last quarter, renewables and energy storage contributed more than 50% of supplied electricity for the first time, while wholesale power prices were more than 40% lower than a year earlier.
[…] shifting demand from gas and coal for power and petrol for cars is likely to deliver significantly lower energy bills for households.
Last quarter, wind generation was up almost 30%, grid solar 15% and grid-scale batteries almost tripled their output. Gas generation fell 27% to its lowest level for a quarter century, while coal fell 4.6% to its lowest quarterly level ever.
Gas has long been the most expensive way to produce power. Gas peaking plants tend to fire up only when supply struggles to meet demand and power prices soar. Less demand for gas has flowed through to lower wholesale prices.”
Full article: www.theguardian.com...
If even Australians see the benefit of solar - then why is NZ actively boycotting solar uptake? The increased line rental for electricity was done to make solar less competitive and prevent cost per kWh to rise even more than it did - and electricity costs are expected to rise even more. Especially as National favours gas - which is the most expensive form of generating electricity. Which in turn will accelerate Climate Change, as if New Zealand didn’t have enough problems with droughts, floods, slips, etc. already.
New BEGINNERS LINEDANCING CLASS
Epsom Methodist church
12 pah Rd GREENWOODS cnr. Epsom
Monday 9th February 7pm - 9pm
Tuesday 10th February 10am -11am
Just turn up on the day
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