Taranakians spend up on entertainment

Taranakians spend up on entertainment, less on eating out and groceries

People in Taranaki spend the second highest amount on entertainment in the country compared to other regions, according to data gleaned from Westpac NZ.

Westpac drilled down into the data of more than 96,000 of its CashNav app users* and found that those living in Taranaki spend around $231 on average per month at the movies, at concerts, on gaming, or gambling, beaten only by Auckland on $286 per month.

Westpac’s CashNav app allows customers to track their daily spending habits by categorising what they spend their money on and identifying what is holding their saving aspirations back. It also notifies them if their spending is higher than usual.

The app does this by automatically categorising customers’ EFTPOS, debit and credit card transactions into one of 12 categories such as eating out, shopping, travel, entertainment, home, groceries, transportation, utilities, education and health. Retailers choose their category although CashNav users can re-categorise them if they want to.

Westpac NZ General Manager of Marketing, Products and Transformation Andrew Kerr says CashNav allows customers to monitor their spending and take control of their purchasing habits.

“They can see if their spending is going up or down over the month and identify exactly where to cut back in order to save more.”

When it comes to spending on groceries, people in Taranaki spend around $601 on average per month compared to people in the Marlborough region who spend $712.

Other figures related to dining out at cafés, restaurants, and at fast-food outlets show Taranakians well down on their spending compared to other parts of the country -$151 less than Aucklanders on average.

When it comes to spending on health such as gyms fees, pharmacies, make-up stores and beauty salons, Taranakians spend the fourth highest of 13 regions at $204.

“People in Taranaki appear to be keeping a close eye on their spending which is good. CashNav app users are able to see when their spending is creeping up and how it’s affecting their saving for the bigger things they want. From there, they can make different spending choices,” says Mr Kerr.

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