Photo: RNZ / Rebekah Parsons-KingNearly a quarter of a million people surveyed by ASB say they have less than $1000 in savings. That was among the key findings of ASB's financial wellbeing study of half a million customers, which also found more than a third were living pay-day to pay-day. The study also found more than a third of customers frequently had balances of less than their average weekly expenses, and 15 percent of customers always spend more than 80 percent of their income. This puts them in a potentially vulnerable position," ASB chief executive Vittoria Shortt said. The study also found the average overall financial wellbeing of New Zealanders has improved since the first Covid-19 lockdown, largely because they are spending less.

Source: Otago Daily Times March 24, 2021 17:48 UTC