People make smart use of debt

Enabling New Zealanders to take control of their debt and make it work for them, not against them.


  • People manage debt to their advantage

  • People get out of high-interest debt faster


  • Individuals are better equipped to negotiate with lenders

  • Unproductive debt decreases and net worth increases

  • As debt is paid off faster, more money is available sooner to spend, save and invest


  • Easy access to credit

  • Lenders make money from people being in debt

  • Pressures of consumerism

  • New Zealanders owe $6 billion in personal credit card debt
"New Zealanders owe $6 billion in personal credit card debt"


Promote awareness of the impact of long-term borrowing on and individual's future

Partner with price comparison websites to make people aware of the available options when purchasing goods and services

Work with employee groups to introduce and extend financial education in the workplace

Educate people to borrow only when is needed where possible, and explain the consequences of over-borrowing

Work with banks to develop greater reporting of real credit card debt on statements

Goals 2025

65% of people are making more than the minimum mortgage repayments (up from 40%, FBI)

95% of people shop around before making a significant purchase (up from 72%, FBI)

50% of financial workplace programmes include debt management

70% of people pay off their credit cards in full each month (up from 59%, FBI)

100% of lenders show the 'real cost' of borrowing on statements - currently under review (up from 0%)

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