New Zealanders bear a debt of 5.2 billion NZD with high interest

New Zealanders bear a debt of 5.2 billion NZD with high interest

(NZweek) – It is reported that Kiwis’ credit card has a debt of 5.25 billion NZD, and 63% debts are with a high interest of 18%.

According to the survey result of Money Guide Sorted, though people want to reduce loans, more than half of surveyed people feel helpless and have no plan to change their habits. Under a dull economy, nearly two-thirds people claim to tighten their wallet and reduce expenses.

The survey also showed that 56% survey people tend not to increase their debts due to an economic recession.

However, when asked about what debt-dealing measures they will take next year, 50% people suggested that they will continue the present way of financial management.

Only 25% people said they would make some changes of their finance management and life style, including fewer debts.

7/1 of those who want to change their life style would like to cut their credit cards.

In general, 1/16 said they put the debts with high interests in the first place.