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New Zealand Average Household Savings - 2024 Report and Analysis

Updated 4 January 2024

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Summary:

Summary

Per Stats NZ Household data, disposable incomes are up modestly (but so are consumer prices) while debt servicing costs have been rising fast (due to higher interest rates).
Households' Wealth and Debt have both ridden modestly, while economic outlook and business confidence have fallen.
Net worth is still decreasing, but New Zealanders are saving more than they spend.

Disclaimer:

The insights generated in this guide have come from a variety of sources, including the RBNZ’s National Savings Data, Kiwibank’s New Zealand Annual State of Savings Index, Statistics New Zealand’s Household Finances Reporting and third-party media and reporting.
While the data may suggest changes upwards or downwards regarding household savings or other metrics, it's challenging to draw definitive conclusions from the figures (partly due to the methodology and the way the metrics are calculated and casually connecting cause to effect).
Additionally, unusually strong household spending numbers due to the impacts of COVID-19, lockdowns, and border closures over the past few years may have disrupted the normal seasonal pattern in the data, making the seasonal adjustment process of data analysis difficult.

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