Each week the NZ Herald and Newstalk ZB's Cooking the Books podcast tackles a different money problem. Today, it's how you can future-proof your finances even if you don't have savings. Hosted by Frances Cook.
The rainy day has arrived. Now is the time when a savings account can help
you ride out the turbulence and give you peace of mind.
The problem is that as New Zealanders we're one of the worst in the world for saving our money.
Figures from the Reserve Bank show that in 2019, New Zealanders as a group saved -0.3 per cent. As in, overall, we didn't save anything. In fact, most of us have been living beyond our means, and using debt to fund it.
To put it another way, figures from finder.com show 58 per cent of us have less than $500 in savings.
