Anything can be bought on credit these days.
Most people have a credit card, few students survive university without an overdraft and a student loan and stores encourage you to use hire purchase to buy everything from a gaming console to a washing machine or a car.
It’s no wonder then that people struggle to save the deposit for a house.
A severe rental shortage in Tauranga has created “a lottery” type situation with one property receiving 100 inquiries – and the situation was only likely to get worse, experts warn.
The number of Western Bay of Plenty residents on benefits has dropped more than 7 per cent as more jobs become available, according to new figures.
Ministry of Social Development figures show 11,028 Western Bay of Plenty and Tauranga residents claimed benefits in the three months to December last year – 868 or 7.3 per cent less than the same quarter in 2013. Read More
People should exercise caution with their spending over Christmas and seek help if they are facing financial difficulties, says Tauranga Budget Advisory Service manager Diane Bruin.
“A problem shared is much better than hiding behind the financial issues people face every day. Our budgeters offer ideas and assistance that people may not otherwise be aware of.”