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


Kiwis planning ahead to ease Christmas spending stress

Kiwis planning ahead to ease Christmas spending stress

Auckland, New Zealand – December 8, 2017 – As Christmas fast approaches, new Mastercard research has revealed that two thirds of New Zealanders have been saving their pennies (35%) or purchasing presents throughout the year (32%) to spread the cost of Christmas.

The Mastercard-commissioned research that surveyed over 1,000 New Zealanders on their Christmas shopping habits found that more people are planning ahead when it comes to their seasonal spending.

Kiwi men have been saving hard throughout the year to spread the cheer this holiday season (40%), compared to 2016, when they were more likely to have used their November and December pay cheques (34%) or saved throughout the year (35%).

The most popular option for women in 2017 continues to be buying throughout the year to spread costs (38% vs 36% in 2016), followed by saving up (31% vs 35% in 2016). Other popular options for all surveyed include using their November/December pay cheques (29%), or credit cards (27%) to fund purchases, while 12% of Kiwis have also been contributing to a Christmas Club scheme.

Despite planning ahead, many Kiwis (35%) are feeling more financially stressed this Christmas, up from 31% in 2016 and 27% in 2015.

“There is no doubt that the lead-up to Christmas can be a busy and stressful time for many Kiwis. While most of us will do our best to spend within our means, the reality is that the lead up to Christmas also means a spending rise for many Kiwis. It is great to see that many people are taking practical steps to manage their finances and reduce the impact the Christmas season has on their bank accounts,” says Peter Chisnall, Country Manager for Mastercard New Zealand and Pacific Islands.

We’re making a list and filling our trolleys

When it comes to gift giving, 15% of Kiwis have more than 11 people on their list to shop for. At the other end of the spectrum, 5% of Kiwis won’t be buying any gifts to place under the tree this year. However, the majority of Kiwis are planning on buying gifts for 1 to 5 people (45%), or 6 to 10 people (35%) this Christmas.

The kids will be the winners this year when it comes to what’s being spent on gifts, with more than a quarter of Kiwis (27%) intending to spend more than $200 per child, of any age, on presents. This compares to 15% spending more than $200 on their partners, and only 6% and 4% respectively spending greater than this amount on their parents or siblings.

When buying the perfect gift for a significant other, men are likely to spend more on their partners than women – with 17% of men saying they will spend over $200, compared to only 11% of women. Women are more likely to spend big on their kids, with 45% planning to spend more than $150 on their children, compared to 33% of men.

“Children are one of the biggest high spend categories in terms of purchasing gifts, but when the kids get older, they return the favour with a third (34%) of Kiwis spending more than $100 on their parents or in-laws. Whether you’re spoiling someone or operating on a budget, it is helpful to have a clear strategy and budget allocated to what you will spend on each person and then – most importantly – stick to your plan,” says Chisnall.

Over a quarter of New Zealanders will also splurge on their friends this Christmas with 27% intending to spend between $51-$100 and 58% intending to spend under $50.

Proving that we aren’t forgetting our pets, 83% of Kiwis will also be spending up to $50 on their honorary family members, while 6% will be spending more than $100 on presents for their furry friends.

Budgeting still a priority for Kiwis this Christmas

When it comes to setting a budget, more than half of Kiwis (59%) are looking to spend much the same as they did last year, while around a quarter (26%) will be tightening their belts and aiming to spend less overall this Christmas. 15 per cent of respondents said they are planning to spend more this year than the last.

For those who are increasing their budgets, the main reasons are that that they have more gifts to buy (52%), splurging on more expensive presents (34%) or they have more disposable income this year than last (30%).

People tightening their belts this season said they are doing so because they have less disposable income (55%), have budgeted to spend a certain amount (26%), or are putting their money towards other things (26%).

Overall, half of New Zealanders (52%) expect their total household spend in to relation to Christmas to be under $500 for everything – including food, travel, presents and decorations, while 17% are expecting to spend more than $1000.

“At the end of the day, the Christmas period should be a time to enjoy the holidays and relax rather than feeling under financial pressure. Although it is often easier said than done, one of the best ways to manage Christmas related stress is to set aside a budget, prioritise spending and plan ahead to ensure that Christmas is an enjoyable time for all,” says Chisnall.


© Scoop Media

Business Headlines | Sci-Tech Headlines


DIY Law: Government Exempts Some Home Improvements From Costly Consents

Homeowners, builders and DIYers will soon have an easier time making basic home improvements as the Government scraps the need for consents for low-risk building work such as sleep-outs, sheds and carports – allowing the construction sector ... More>>


Media Awards: The New Zealand Herald Named Newspaper Of The Year, Website Of The Year At Voyager Media Awards

The New Zealand Herald has been labelled a “powerhouse news operation” as it claims the two biggest prizes – Newspaper of the Year and Website of the Year – along with many individual awards at the 2020 Voyager Media Awards Website of the ... More>>


ASB Bank: ASB Takes The Lead Again With New Low Home Loan Interest Rate

ASB has moved again to support its customers, cutting a number of home loan rates, including the two-year special rate to a new low of 2.69% p.a. Craig Sims, ASB executive general manager Retail Banking says the reduced rate will be welcome news for many ... More>>


Nathan Hoturoa Gray: The Problems With Testing And Case Statistics For Covid-19

To begin to understand disease transmission in a country requires adequate testing of your population with properly vetted, accurate tests. As the world struggles to find what 'adequate percentage' of the population is necessary, (estimates predict ... More>>


RNZ: Fletcher Building To Lay Off 1000 Staff In New Zealand

The construction company will cut around 10 percent of its workforce as it struggles with the fallout from Covid-19. More>>


Can Pay, Won't Pay: Cashflow Moves Urged

Government Ministers are asking significant private enterprises to adopt prompt payment practices in line with the state sector, as a way to improve cashflow for small businesses. More>>


Gordon Campbell: On Why We Should Legally Protect The Right To Work From Home

For understandable reasons, the media messaging around Level Two has been all about “freedom” and “celebration”, but this is not necessarily going to be a universal experience. When it comes to workplace relations, Level Two is just as likely to ... More>>


Telecoms: Spark Welcomes Spectrum Allocation And Prepares For 5G Rollout Over The Next 12 Months

Spark welcomes spectrum allocation and prepares for 5G rollout over the next 12 months Spark today welcomed the announcement of the direct allocation process of 5G spectrum, with the Company to be offered management rights to 60 MHz of 3.5 GHz ... More>>


Media Blues: Stuff Chief Executive Buys Company For $1

Stuff chief executive Sinead Boucher has purchased Stuff from its Australian owners Nine Entertainment for $1.
The chief executive was returning the company to New Zealand ownership, with the sale is expected to be completed by 31 May.
"Our plan is to transition the ownership of Stuff to give staff a direct stake in the business as shareholders," Boucher said in a statement.... More>>


RNZ: Bar Reopening Night 'much, Much Quieter'

Pubs and bars are reporting a sluggish first day back after the lockdown, with the fear of going out, or perhaps the joy of staying home, thought to be a reason for the low numbers. More>>


Stats NZ: New Zealand’s Population Passes 5 Million

New Zealand's resident population provisionally reached 5 million in March 2020, Stats NZ said today. More>>

NIWA: Seven Weeks Of Clearing The Air Provides Huge Benefits: Scientist

Seven weeks of lockdown has provided evidence of how pollution can vanish overnight with benefits for the environment and individuals, says NIWA air quality scientist Dr Ian Longley. Dr Longley has been monitoring air quality in Auckland, Wellington ... More>>


Government: Tax Changes Throw Cash Lifeline To SMEs

A significant package of tax reforms will be pushed through all stages in Parliament today to throw a cash flow lifeline to small businesses. More>>


Statistics: Some Indicators Pick Up As New Zealand Moves Out Of Lockdown

New Zealanders moved around more in the main centres and used more fuel and power while weekly exports held up as the country left the COVID-19 level 4 lockdown, Stats NZ said today. COVID-19 data porta l, our new webpage, includes about 40 near-real-time ... More>>


University Of Canterbury: Astronomers Discover The Science Behind Star Bursts That Light Up The Sky

University of Canterbury (UC) astronomers are part of an international team that has revealed how explosions on the surface of a white dwarf star can increase its brightness by thousands or millions of times making it look like a new star. For ... More>>

RNZ: International Passenger Numbers At Auckland Airport Drop 95 Percent

Auckland Airport says international passengers numbers have dropped more than 95 percent in the first 20 days of April over the year earlier. More>>


Biodiversity Policy: Misinformation Circulating

Forest & Bird is concerned at misinformation circulating regarding a policy statement aimed at protecting New Zealand’s unique biodiversity. The National Policy Statement for Indigenous Biodiversity is being consulted on by the ... More>>