Gordon Campbell | Parliament TV | Parliament Today | News Video | Crime | Employers | Housing | Immigration | Legal | Local Govt. | Maori | Welfare | Unions | Youth | Search

 

New Zealand Tops Regional Financial Literacy Survey


New Zealand Tops Regional Financial Literacy Survey

Kiwis again prove themselves to be savvy money managers

To tweet this news, copy and paste http://bit.ly/11SlbrI to your Twitter handle with the hashtag #MasterCardNZ

Auckland, New Zealand – July 29, 2013 – New Zealanders have proven themselves to have the best basic money management skills in the Asia-Pacific region, according to MasterCard’s latest research into financial literacy.

The MasterCard Index of Financial Literacy survey polled consumers on three aspects of financial literacy including their basic money management skills, investment knowledge and financial planning to determine the level of basic money management skills in terms of budgeting, savings, and responsibility of credit usage.

New Zealand’s overall financial literacy index increased to 74 points (up from 73 points in the previous 2012 H1 survey), placing it at the top spot in the Asia-Pacific region.

New Zealanders also came top in overall basic money management (77 points), which includes skills such as day-to-day budgeting (94 points), keeping up with bills (79 points), credit commitments (75 points) and setting money aside for big purchases (61 points).

New Zealand scored 74 points in overall financial planning, and was ranked fourth in the region in terms of understanding financial investment with 63 points.

“Kiwis have once again proven themselves to be savvy when it comes to managing their finances,” said MasterCard’s New Zealand country manager, Albert Naffah.

“The survey shows a high number of Kiwis are thinking about their financial futures and actively managing their money. These results are a positive sign that New Zealanders are taking responsibility for understanding their financial positions.

“This is welcome news on the back of the six-year anniversary of KiwiSaver, which has had a strong uptake from New Zealanders since its inception and will have helped to kick-start many Kiwis retirement savings habits.

“Worth noting is the very high score of 94 in regards to understanding how to budget day-to-day finances. The recent tight economic times have driven home the importance of budgeting properly and Kiwis have taken this on board as they watch carefully how they spend their pennies.

“The Index of Financial Literacy is a good measure of how well people are making informed decisions around their personal finances. New Zealand is a clear standout,” said Mr Naffah.


Ends

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Budget 2022: A Secure Future In Difficult Times


Budget 2022 will help build a high wage, low emissions economy that provides greater economic security, while providing support to households affected by cost of living pressures. “Our economy has come through the COVID-19 shock better than almost anywhere else in the world...
More>>

ALSO:




 
 


Budget 2022: A Secure Future In Difficult Times
Budget 2022 will help build a high wage, low emissions economy that provides greater economic security, while providing support to households affected by cost of living pressures... More>>


Budget: Climate Investments Provide Path To Economic Security
The Government is investing in New Zealand’s economic security by ensuring climate change funding moves away from short-term piecemeal responses and towards smart, long-term investment... More>>

ALSO:


Budget: Updated My Vaccine Pass For Those Who Want It

New Zealanders who are up-to-date with their COVID-19 vaccinations will be able to download an updated My Vaccine Pass from 24 May, COVID-19 Response Minister Chris Hipkins said today... More>>


Classification Office: Following Decision To Ban Manifesto The Buffalo Mass Shooting Livestream Is Now Banned
The livestream video of yesterday’s mass shooting in the United States has now been banned, Acting Chief Censor Rupert Ablett-Hampson announced this morning. The decision follows on from his decision yesterday to call in and ban the ‘manifesto... More>>

Borders: New Zealand Poised To Welcome International Students Back
New Zealand is fully reopening to international students and the Government is committed to help reinvigorate and strengthen the sector, Education Minister Chris Hipkins said today... More>>


Inland Revenue: Commissioner Appointed
Deputy Public Service Commissioner Helene Quilter QSO has today announced the appointment of Peter Mersi to the position of Commissioner and Chief Executive, Inland Revenue Department... More>>


 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels