Debt-Busting Enterprise on RNZ Nights: Why Fairytales Won’t Save Us

Our CEO, Sasha Lockley, joined Mark Leishman from RNZ to provide her insights on the current financial challenges facing New Zealander's, and why shopping at the supermarket on a Thursday morning isn't the best advice for trying to navigate your finances.

You can check out the full interview here

The numbers are all a bit depressing right now! Just in case you needed a reminder, here goes!

1. Inflation's at 6.7% and Kiwis expect that the continue for this year
2. The Official cash rate is at 5.5%- driving interest rates up on mortgages
3. Eating healthy isn't cheap any more! Food price inflation is at a record high. Bonkers in fact, with the price of fruit and veg has increasing between 18 and 22% in a year.
4. Rental prices are at a record high- $610 per week according to Trademe!
5. Nearly 1 in 10 New Zealanders are behind on their loan payments- What's worrying here is the increase in mortgage and car loan arrears as these are usually the first things that people make sure are paid!
6. Whilst annual wage cost inflation is at its highest level since the series began in 1992 at 4.1%, this hasn't necessarily been enough to completely help us balancing our household finances

We (as in you, and me, and everyone in fact- except the Reserve Bank or the Prime Minister at a push!) can't control inflation, the cost of food, petrol, or life in general.

We need to cut ourselves a break- recognise that times are tough, and try our best to ride it out.

When times get tough it's important that we stay connected with each-other, reach out for help, and BREATHE!

Which is why telling people to shop smarter and reduce their spending is a little like asking people to find the pot of gold at the end of the rainbow, or to plant a bean like Jack and wait for the beanstalk to grow to find the golden egg.

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