Emerging Tech

Cost of living in NZ, 2024

45% of New Zealanders report a large or catastrophic impact from the rising cost of living.

Those under 55 are more likely to report that the rising cost of living is having a bigger impact than those in older age groups. However, there were no significant differences by income levels; everyone is finding it more difficult to live within their means.

Kiwis are adopting a number of strategies to help make ends meet. At the top of the list are:

  • Cutting back on luxuries at the supermarket. A huge 77% of us are making this change.
  • Working out a budget and tracking spending. The new normal for 49%.
  • Reducing energy bills. 38% are reporting tactics including going to bed early to stay warm.

Over a third of us are also selling-on items we can live without (from cars to clothing), taking second/third jobs or increasing our working hours, using the car less and cutting back on essentials at the supermarket.

Not on our list but also mentioned were more benign ideas like cutting back on takeaways or coffees out, and more worrying strategies including skipping meals and not going to the doctor.

What this data clearly shows is the strain that the rising cost of living is having on us and the level of anxiety it creates. At a societal level, 70% are very concerned about the rising costs of living on New Zealand as a whole.

For more information on this report, or to see how we can help answer the questions you have, contact liz@researchfirst.co.nz