Nearly two-thirds of New Zealanders feel some level of financial stress heading into Christmas.
Christmas budgets tighten as more turn to extra income and credit
With household budgets stretched, many New Zealanders are planning a conservative festive season.
Twenty-four per cent will rely on bonuses, seasonal work, side-gigs or extra business activity to cover Christmas costs, while another 24% plan to use more credit or BNPL than last year.
“For many Kiwi families, the pressure to spend up over the season can be particularly tough – especially when relying on credit,” Chadwick said.
More than half (56%) expect to spend the same on gifts as last year, 15% will spend more, and 28% will cut back. Average planned gift spend is $140 per person, with $415 budgeted for food and drink.