KEY POINTS:
More Kiwis are feeling optimistic about their financial situation now than they were earlier last year, a new poll suggests.
Despite the torrent of gloomy financial news, more Kiwis are feeling confident about their personal finances, according to a Research New Zealand survey.
The poll taken between November 26 and December 3 found that half of the 500 people surveyed expected to be in a somewhat or much better financial situation in the next 12 months.
The poll also found that 25 per cent expected no change, but 23 per cent said they expected to be in a much worse or somewhat worse financial situation in the next 12 months, Research NZ director Emanuel Kalafatelis said today.
When the same questions were asked in March 2008, 36 per cent of New Zealanders said they expected to be better off in 12 months. In a September poll this figure rose to 40 per cent and in October it had risen again to 48 per cent, Mr Kalafatelis said.
"In recent months we've experienced a big drop in petrol prices, interest rate cuts and tax cuts. Those changes may have helped Kiwis feel more optimistic about the future," Mr Kalafatelis said.
The most optimistic group were those aged between 15 and 29, with more than one third (38 per cent) expecting their financial situation to be a lot better, compared with 4 per cent of 40 to 49 year olds and 5 per cent of those aged 60 or more.
The group who was the least optimistic about their financial situation in the next 12 months were those aged 60 or over, with 31 per cent saying they thought they would be a lot or somewhat worse off, compared to 17 per cent of those aged 15 to 29.
Mr Kalafatelis said older people were often on fixed incomes and might feel the changes in the cost of living more acutely than those who were working and benefiting from potential pay rises and tax cuts.
The poll had a margin of error of 4.6% and was weighted to ensure it was an accurate representation of the New Zealand population.
- NZPA
