"While it might not seem like a big deal to go into the red now and again, what most consumers don't realise is the lost opportunity of having that money earning interest in the bank."
Kidman said those struggling to save should start by reducing their overheads.
"Bills like your phone, internet, and even your TV streaming service, can usually be reduced by negotiating a cheaper rate or by switching providers.
"It's also important to make sure you're getting the best savings interest rate. Instead of automatically going with your current provider, compare traditional and online accounts - online account tend to offer higher returns."
World's worst savers
1 Lithuania -4.74%
2 Finland -2.58%
3 Spain -1.94%
4 New Zealand -1.23%
5 Latvia -1.02%
Kidman said long-term saving could be very hard to start and he urged people to think of its as a marathon rather than a sprint.
"If you put away $50 a week into your savings, this will quickly add up to $2,400 a year, plus interest.
"If you're disciplined and keep putting the same amount aside for 10 years, you'll have roughly $30,311 set aside, including over $4,000 of interest at a rate of 3 per cent. This means that regardless of economic conditions you'll have a rainy day fund – one that can also double as your mortgage offset account."
The research found that while Australia ranked better than New Zealand when it came to saving they also took on more debt.
Australians had an average forecast savings rate of 2.1 per cent which meant they were saving an extra $1490 more than Kiwis but had a household debt to disposable income of 216.27 per cent compared to New Zealand's 121.15 per cent.
World's best savers
1 Switzerland 17.64%
2 Sweden 16.34%
3 Luxembourg 13.41%
4 Hungary 10.77%
5 Germany 9.94%
