­News highlights:
82% of Kiwis are stressed about their financial situation

Groceries, rent or mortgage payments, and petrol are causing the most stress

Top tips for budget beginners

21 March 2023, New Zealand – Millions of Kiwis are living in a state of financial stress, according to new research from global comparison site Finder.

A nationally representative survey of 1,114 respondents revealed the majority of Kiwis (82%) – equivalent to over 3 million people – are at least ‘somewhat’ stressed about their financial situation.

The research found over half (54%) are ‘somewhat’ or ‘slightly’ stressed about their financial situation, while 28% admit they are ‘very’ or ‘extremely’ stressed.

The bills causing New Zealanders the most stress are groceries (61%), rent or mortgage payments (45%), and petrol (45%).

Angus Kidman, Finder’s editor at large in New Zealand, said mounting expenses and debt were contributing.

“Households are falling short and are falling deeper into financial stress due to more of their income being spent on essentials like fuel and groceries.

“Many Kiwis are nervous about future rate rises – lots of these people are already struggling.”

Kidman urged consumers to not let their finances stress them out to the point of inaction.

“Start with areas where you can easily save the most money – like your mortgage or car insurance.

“Creating a budget is the best way to see where you could be saving some cash. Seeing your income, expenses and debts in one place can help you prioritise your financial goals and avoid overspending.

“Once you have greater awareness and control of your finances, you will be able to maximise your funds and feel less stressed,” Kidman said.

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