Generational divides revealed: Kiwi investment preferences explored in new report
- : Banked NZ
- : 26/01/2023
Highlights
- Younger generations are most likely to invest in shares, while Gen X say they are just as likely to invest in crypto. Term deposits are the top choice for Baby Boomers.
- 52% of Kiwis think 2023 will be a better year for investing than 2022.
- 87% think it’s important to invest in a socially responsible way.
Auckland, New Zealand – There is a distinct difference in investment preferences across generations of Kiwis, shows a new report from Banked. The personal finance website surveyed 1,020 New Zealand adults about their inclinations and attitudes to investing.
When asked what type of investment they were most likely to invest in, the top choice for Gen Z and Millennial Kiwis was shares (26.8% and 24.2%, respectively).
Property was the second most common choice for Gen Z, with 19.3% of those aged 18 to 26 saying they were most likely to invest in that investment type.
Along with shares, Gen X say they are just as likely to invest in cryptocurrency (both selected by 21.3% of respondents).
Those of the Baby Boomer generation are much less interested in shares (13.3%) while more than a third (35.2%) say their top investment choice is a term deposit.
“Our report shows a fascinating difference in the investment interests of Kiwis across age groups,” says Kevin McHugh, Head of Publishing for Banked.
“The boom of micro-investing apps and the popularity of so-called ‘Reddit stocks’ has captured the imagination of younger generations and they’ve really embraced investing in shares and funds.
“But as we move up the age groups there’s a declining interest in shares and a much greater attraction to lower-risk term deposits,” says McHugh.
“We also see that while home ownership has become increasingly difficult in recent years, it hasn’t dented the aspirations of younger people to own property.”
See the full report: https://www.banked.co.nz/nz-investor-report-2023
Most Kiwis optimistic for 2023
Banked’s report also shows that a majority of New Zealanders believe this year will be more fruitful for investors.
Asked if they thought 2023 would be a better year for investing than 2022, more than half (52.2%) said yes. Only 17.1% said no, while 30.8% said they didn’t know.
“Twenty twenty-two was a turbulent year for investors, with most investment types losing value. But most Kiwis are feeling more positive about 2023 and some may turn to investing as a way to counter the impact of inflation,” says McHugh.
A nation of socially responsible investors
The new report reveals the importance of environmental, social and governance (ESG) investing to New Zealanders.
A huge 87.1% of respondents say it’s important to invest socially responsibly, and only 12.9% disagree.
Gen Z feel the most strongly about the topic, with 90% saying it’s important. But the belief was uniform across all ages, with no age group dropping below 82%.
For those that say they didn’t think socially responsible investing was important, a desire just to get the best return possible is the main reason for most (42.4%), while 32.6% say they thought it made no difference.
ENDS
About Banked
Banked is a financial information and deals website that has the goal of helping New Zealanders make the best decisions on the products they need.
- Survey-1-Q.-What-type-of-investment-are-you-most-likely-to-invest-in-excluding-KiwiSaver
- : Kevin McHugh
- : Head of Publishing
- : kevin@banked.co.nz
- : 02108837789
- : https://www.banked.co.nz/
- https://www.facebook.com/BankedNZ
Christmas crunch: 60% of Kiwis stressed about the cost of Christmas
- : Banked NZ
- : 30/11/2022
30 November 2022, New Zealand
Highlights
- Kiwis to spend an average of $623 on gifts this year.
- Women much more stressed about Christmas costs than men.
- Almost two-thirds would pay more for a sustainable gift.
The majority of Kiwis feel stressed about the cost of this year’s Christmas, reveals the latest research from personal finance information website Banked.
A survey of 1,020 New Zealanders found that 60% of Kiwis describe themselves as either a ‘little stressed’ (46%) or ‘very stressed’ (14%) about the expenditure involved with this year’s festivities.
Women are feeling under more pressure than men, with 70% reporting some level of stress, compared with 49% of men.
Banked’s Christmas spending report found that Kiwis will spend an average of $623 on gifts this year. Women said they expect to spend $566 on average, while for men that figure climbs to $712.
“With rocketing inflation and a cost of living crisis to contend with, lots of New Zealanders are really feeling the pinch this Christmas,” says Kevin McHugh, Head of Publishing at Banked.
“Many will be worrying about their personal finances when they should be able to wind down and appreciate some well-earned time off with friends and loved ones.”
Banked’s research also found that sustainability is an important consideration for Kiwis when buying gifts. Almost two-thirds (65%) say they would be willing to pay more for a gift if it was sustainable, such as one that involved zero waste or was made from recyclable materials.
Younger people are even more interested in sustainable gift-giving, with 76% of those aged 18-24 (falling into the Gen Z age group) stating that they would be willing to pay more for a sustainable gift.
Conversely, under half (49%) of those aged 55 and older say they would be willing to pay extra for a gift if it was sustainable.
“Sustainability is a vital issue and it’s pleasing that so many Kiwis are willing to support it, even if it costs them a little extra at the checkout,” says McHugh.
See Banked’s NZ Christmas Spending Report 2022.
Top ways to save this Christmas
Don’t feel obligated to spend beyond your means – “Christmas is an expensive time and many feel pressure to spend money that they don’t have,” says McHugh.
“Don’t feel an obligation to buy gifts you’ll struggle to afford or take part in every costly social event. Put your wallet and your wellbeing first.”
Secret Santa or group gifting – “Arranging a Secret Santa is a great way to cut costs. It can also be lots of fun and lets you focus on getting a great gift for one person.
“Chipping in with others for a group gift is another excellent way to save, plus it makes it possible to purchase an otherwise unaffordable present,” says McHugh.
Set a budget (and stick to it) – “It can be easy to overspend at Christmas. But by setting a budget and keeping track of your spending, you’ll make managing your finances over the festive period much easier,” advises McHugh.
ENDS
About Banked
Banked is a financial information and deals website that has the goal of helping New Zealanders make the best decisions on the products they need.
- : Kevin McHugh
- : Head of Publishing
- : hello@banked.co.nz
- : 642108881973
- : https://banked.co.nz/