Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Debtors Getting Younger


A press release from the NZ Federation of Family Budgeting Services (NZFFBS), prompted by the annual review of results achieved by affiliated budgeting services

Debtors Getting Younger

Debtors are getting younger according to the sampling of clients seeking budgeting advice in the 12 months to 30 June 2004.

Nearly half of all clients asking for budgeting help are aged between 26 and 35 years.

“Considering that the most common reason for people asking for budget advice is to deal with existing debt it appears that it is young families that are having the most trouble coping with debt” says Shirley Woodrow, President of the New Zealand Federation of Family Budgeting Services Inc. “We’ve being seeing over the last couple of years that the average age of our clients is getting younger” says Mrs. Woodrow.

Access to student loans and freer credit from banks and retailers combines to gradually create a pressure point when people are of an age to raise their families and they find that they can no longer service their debts and meet the essential costs associated with family life.

“It’s a good thing that people are requesting budgeting advice. It’s never too early” says Mrs Woodrow.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>


Half A Billion Accounts: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>


Half Full: Fonterra Raises Forecast Payout As Global Supply Shrinks

Fonterra Cooperative Group, the dairy processor which will announce annual earnings tomorrow, hiked its forecast payout to farmers by 50 cents per kilogram of milk solids as global supply continues to decline, helping prop up dairy prices. More>>



Meat Trade: Silver Fern Farms Gets Green Light For Shanghai Maling Deal

The government has given the green light for China's Shanghai Maling Aquarius to acquire half of Silver Fern Farms, New Zealand's biggest meat company, with ministers satisfied it will deliver "substantial and identifiable benefit". More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news