Kiwis Splurgers Rather Than Savers?

16 September 2013

Kiwis Splurgers Rather Than Savers?

A recent survey conducted by leading whiteware company Haier, has revealed that most New Zealanders’ spending decisions are based on want rather than need and we’re happy to hide the true cost of our purchase.

The survey looked at the spending habits of Kiwis with the aim of uncovering our true saving style, and which areas of our lives we are willing to splash out on.

In a typical juxtaposition, it found that while over three quarters of respondents admitted to being savers and generally shopped with a budget in mind, they also had a tendency to indulge in a little splurging.

Short term gain outweighed long term pain when choosing what to splurge on, with budgets often overlooked when dining out, selecting entertainment and buying fashion items.

In contrast, respondents were less likely to splash out on investment items. Over half of survey respondents were only willing to buy new technology when their current model needed replacing. Homewares including dishwashers and washing machines, and cars ranked as the least likely items we’d be prepared to splurge on.

When it comes to factors influencing our save and splurge habits, nearly 50 percent of respondents were swayed by their mood, and nearly the same number attributed their splurge to a special occasion such as a wedding or birthday party that they needed that purchase for.

Reasons for investing in such splurges were based on feeling good, looking good and something tasting good. Respondents confessed to spending a little extra on clothes because they form a part of your identity. One respondent admitted chocolate and wine, whilst never on the shopping list at the supermarket, still made it into the trolley as an indulgence after a hard day.

Budgeting Advisor Kayne Wahlstrom from Manage My Money says these findings aren’t surprising.

“What people need to understand is that it is okay to splurge, if you spend less in other areas to compensate. With the cost of living on the rise, it is increasingly important for Kiwis to understand the importance of budgeting and learn to make wise spending decisions that have long-term benefits”.

Haier Brand Manager, Yvonne Hong, says Haier Appliances are proving popular with an increasing number of Kiwis who believe you can come pretty close to having it all, if you’re smart about where you spend your money. It’s about getting the balance right.

“One of the driving ideas behind Haier is that living the good life can be the reality, if you choose your products wisely.

“It’s not about being cheap or rash with spending, it’s about thinking before you spend so you get the quality product that fits your own needs and lifestyle at a price you are happy to pay and that fits your budget.

“Haier's appliances have been designed by world leading engineers with price, styling, functionality and service driving our product offering. Consumer magazine recommends us across a number of products for overall performance and value - further testimony that Haier is getting the balance right,” she says.

The Guide to a Haier Life Survey questioned 367 people across New Zealand.

Haier is a major, global whitegoods company that manufactures affordable appliances you can depend on.

Backed by a 2 year warranty and a 24/7 Customer Care service, Haier gives you peace of mind and leaves the change in your wallet, leaving you to do the things you enjoy and to live a Haier life.

About Haier Group Co. Ltd
In the New Zealand market, Haier has 62 appliance models across a range of categories including refrigerators, freezers, wine chillers, dishwashers, washing machines and dryers. Founded in Qingdao, Shandong province, China in 1984 under the leadership of Mr Zhang Ruimin, its current Chairman and CEO, Haier is the No. 1 Major Home Appliances Brand in the World for 4 consecutive years (Source: Euromonitor International Limited; retail volume sales in units based on 2009-2012 data).

ENDS

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