INDEPENDENT NEWS

Hawke’s Bayers are some of the most careful spenders

Published: Wed 4 Oct 2017 12:50 PM
Hawke’s Bayers are some of the most careful spenders in the country
When it comes to spending on groceries, people living in Hawke’s Bay spend the second lowest of 13 New Zealand regions on average per month, 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 Hawke’s Bay spend around $517 on average per month, beaten only by those in the Manawatu-Wanganui region who spend around $502 per month. People in Marlborough spend the most at $712 on average per month.
When broken down into age groups, millennials (18-35s) in the Hawke’s Bay spend the least on groceries when compared to millennials living in other regions, at $372 per month on average.
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.”
And in a region with an array of fine wines and dining options, people in Hawke’s Bay came in at only ninth out of 13 regions on their spending on eating out at cafés, restaurants, and at fast-food outlets.
It’s a similar story when it comes to spending on health such as gyms fees, pharmacies, make-up stores and beauty salons, with people in the Hawke’s Bay spending about $183 on average per month – nearly $100 less than people in Auckland.
“People in Hawke’s Bay 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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