Under-30s and firms with 100+ staff are leading the way in financial resilience
Savings momentum is gaining ground across Aotearoa, with young New Zealanders and large businesses driving a shift toward more disciplined financial behaviour, according to new research from Kiwibank.
Among consumers, under-30s are at the forefront of the shift. The report found that 76% of young New Zealanders now have a defined savings target, 85% follow a budget, and 23% are saving more than they did a year ago – well above the 17% national average. More broadly, over half of New Zealanders (51%) say they now have a savings goal.
“Young people are setting goals, sticking to budgets, and saving more than they did last year. But not everyone is experiencing that momentum,” Kiwibank CEO Steve Jurkovich said.
This growth in goal-setting signals rising financial awareness. Nearly all respondents agree on the importance of being financially prepared for unexpected expenses. However, only 43% are saving regularly, and 63% say they continue to struggle to save at all – mainly due to the high cost of living, which remains the top barrier for 69% of respondents.
At the same time, long-standing barriers persist. Sixty-three percent say they still struggle to save, with the high cost of living—particularly food prices and inflation – cited as the top obstacle by 69%. Vulnerability is most acute among women (71%), Māori (79%), and Pacific Peoples (82%), who are all more likely than average to say they’re unable to save consistently. These groups are also more likely to dip into long-term savings to cover short-term needs.
“There is a real gap between those who feel empowered to save and those still trying to gain stability. But the rise in goal-setting is a powerful signal that more Kiwi want to take charge of their financial futures,” Jurkovich said.
A similar trend is unfolding across the business sector, where firms are starting to move from survival to resilience. Over half of businesses (52%) report being financially stronger than they were a year ago. Much of that momentum is concentrated in larger firms: 82% of businesses with over 100 employees say their finances have improved, and 72% are seeing higher customer spending.
These firms are also better positioned to handle financial shocks, with 89% saying they could manage a $10,000 expense. Among sole traders, only 25% say the same. Seventeen percent of sole operators say they aren’t saving at all, compared with none of the large firms surveyed.
Still, many small businesses are actively trying to improve their financial footing. The report showed 57% are focused on cash flow, 38% are building savings buffers, and 58% prefer to fund growth through savings rather than debt. Demand for support is also high: 76% want new savings or investment products, 71% seek online budgeting tools, and 68% are looking for flexible lending or tailored advice.
“There’s a confidence gap between larger organisations and smaller businesses. The drive and ambition are there, but they’re often missing the tools to act on it,” Jurkovich said.
