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44% Save, 40% Borrow as Cost-of-Living Strains New Zealand

7/23/2026

36 2 Full Breakdown

Summary

Story summary

Kiwibank chief executive Steve Jurkovich said 44% of New Zealanders saved in 2026 while 40% took on debt to cover living costs.
The State of Savings Index reported that 74% of people facing saving challenges cited cost of living as the main obstacle, while 28% could not meet a $500 bill without borrowing or selling.
Under-30s led debt uptake at 61%, with Maori and Pacific peoples more indebted than NZ Europeans.

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Story summary

Kiwibank chief executive Steve Jurkovich said 44% of New Zealanders saved in 2026 while 40% took on debt to cover living costs.
The State of Savings Index reported that 74% of people facing saving challenges cited cost of living as the main obstacle, while 28% could not meet a $500 bill without borrowing or selling.
Under-30s led debt uptake at 61%, with Maori and Pacific peoples more indebted than NZ Europeans.