Kiwis more canny with cash - poll

More people were feeling the need to shrink their debt and save this Christmas. Photo / Thinkstock

Eight out of 10 New Zealanders intended spending the same or less this Christmas on living and giving, says a Herald-DigiPoll survey.

Financial experts say this suggested more people are feeling the need to shrink their debt and save, as well as baulking at higher prices.

The survey of 500 asked people their intentions on the spending front this festive period, including buying presents, meals and alcohol.

The result was that 40 per cent said they would spend the same, 40 per cent said they would spend less and 20 per cent said they would spend more than last year.

"It's a reflection of the economy," said Massey University senior lecturer in banking Claire Matthews.

"Prices have increased. Those who say they will spend the same will be buying less, which suggests that families are still finding life difficult and they are cutting back."

A breakdown of the poll showed that people aged 18 to 39 were twice as willing to splash out than their elders.

About nine out of 10 respondents in the 40 to 54 year age bracket were against an increase in spending, which was welcome news to Retirement Commissioner Diana Crossan.

The commissioner has been urging people not to get into debt to pay for their Christmas.

"I'm pleased at the mindset shown by the poll, which is a shift towards people trying to be more prudent.

"People are feeling the pinch and they are recognising other ways to celebrate Christmas rather than buying presents and getting into terrible debt."

A further breakdown of the poll suggests men are the keenest to up their spending on last year - at 21.8 per cent compared with 18.1 per cent of women.

Claire Matthews said attitudes towards spending were influenced by those who usually did the shopping and had a better grasp of prices, or who looked after household finances.