Annoying advice: The savings tips that drive Kiwis up the wall

Posted: 30 November 2022 6:10 pm

Kiwis are fed up with being told how to save their money, according to new research from global comparison site Finder.

A nationally representative survey of 1,504 respondents found more than half (53%) of Kiwis feel annoyed when told to cancel their TV subscription services.

Being told to perform their own beauty or grooming services at home (40%) and to work out at home or outdoors instead of at the gym (40%) come in joint second place for the most irritating pieces of money advice.

Surprisingly, nearly three-quarters of Kiwis (73%) think being told to make their daily coffee at home is a helpful piece of advice.

That same number (73%) find reminders to track their spending helpful.

Kylie Purcell, investing expert at Finder, said people don’t want to give up the things that bring them joy.

“Many of us look forward to bingeing Netflix after a long day and don’t want to be deprived of that.

“Streaming services cost as little as $8 a month, but if you’ve got multiple subscriptions, the costs add up quickly. Try to stick to 1 or 2 platforms, and make the most of free trials where you can.

“Quitting your gym membership could save you some cash, but if you hate working out from home then you might soon regret it.”

Purcell says there are far more meaningful ways to save money.

“Focus on the areas where you can save the most money without even noticing it – like your mortgage or your car insurance.

“The best way to figure out where you could save money is by creating a budget. Look at your income and expenses to get a sense of where you might be able to cut back.

“If you have any underlying debts, prioritise paying these off first. Balance transfer cards can help you pay off credit card debt with no interest.”

Cancelling TV subscriptions is the advice most likely to irk gen Z (56%), whereas baby boomers are the most likely to be annoyed when told to ditch their gym membership (47%).

Do you find the following tips about building your savings annoying or helpful?AnnoyingHelpful
Cook more at home instead of eating out/ordering delivery27%73%
Track your spending27%73%
Use coupons to save money on purchases26%74%
Make your daily coffee at home instead of buying out27%73%
Save money on a gym membership by working out at home or outdoors40%60%
Perform your own beauty/grooming services at home40%60%
Cancel TV subscription services53%47%
Source: Finder nationally representative survey of 1,504 Kiwis, May 2022
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