The amount Kiwis will spend on gifts this Christmas and how stressed it's making us has been revealed in a study.
Banked NZ, a personal financial information website, surveyed 1020 New Zealanders participating and asked them a range of questions regarding the upcoming festive season.
They found that on average, Kiwis expect to spend $623 on their loved ones on the 25th of December, with a bit of a difference between men and women. Men believe they’ll spend $712, while women predict $566 - a 21% difference.
People aged 55 and up expect to spend $445 - the lowest of any age bracket. At the highest end of the spectrum, those aged 35 - 44 see themselves spending $776.
Banked also asked the respondents “how stressed do you feel about the cost of this year’s Christmas?” and the results show a majority of Kiwis are feeling the pressure. 60.4% said they were either a little stressed (46.3%) or very stressed (14.1%).
Despite expecting to spend less, women reported being quite a bit more stressed than men. 69.9% of women reported being stressed with 52.4% saying they are only a little stressed and 17/5% saying they are very stressed. On the other hand, only 48.8% of men said they were stressed (38.9% a little and just 9.9% very stressed).
Interestingly, 64.4% of people are more likely to buy a gift if it is sustainable -i.e. A gift “that involved zero waste or was made from recyclable materials”. That preference is most common among those aged 18 - 24 (76.2%), while those aged 55 and up care the least about sustainability (49.2%).
To save money this Christmas, Banked suggests to get a Secret Santa or group gifting going. They also said to not “feel an obligation to buy gifts you’ll struggle to afford or take part in every social event.”
