New announcement. Learn more

Your Guide to Managing Household Finances in Aotearoa

Juggling household finances in New Zealand can feel like a game of juggling kiwis – exciting, but sometimes messy! But fear not, with some smart strategies and handy resources, you can take control and achieve financial harmony in your whānau (family). Here's your guide to managing your household finances like a pro:

Communication is Key:

  • Open and honest discussions: Talk openly and honestly with your partner or whānau about your financial goals, income, and spending habits. Transparency fosters trust and collaboration.

  • Shared goals and responsibilities: Establish shared financial goals and discuss who is responsible for different aspects of the budget, like managing bills, tracking expenses, or grocery shopping.

Budgeting is Your Best Friend:

  • Track your income and expenses: Knowing where your money goes is crucial. Utilize budgeting tools or apps like Sorted's budget planner ( or MoneyHub's budget tool ( to track your income and expenses and identify areas where you can save.

  • Create a realistic spending plan: Allocate your income towards essential expenses like rent, utilities, groceries, and debt repayments. Then, factor in discretionary spending for entertainment, hobbies, and other needs.

  • Review and adjust: Regularly review your budget and adjust it as needed. Your financial situation and needs may change, so ensure your budget reflects your current reality.

Embrace Smart Saving Strategies:

  • Pay yourself first: Set up automatic transfers from your pay into a savings account, so you save before you spend. This "pay yourself first" approach ensures you prioritize saving and avoid the temptation to spend it all.

  • Utilize automatic payments: Set up automatic payments for essential bills to avoid late fees and ensure timely payments.

  • Explore government initiatives: KiwiSaver, the government-backed savings scheme, can help you build wealth for retirement. Additionally, Working for Families may offer financial assistance for eligible families with children.

Embrace the "No" Sometimes:

  • Resist impulse purchases: Don't fall prey to impulse buying. Take time to consider purchases, especially for non-essential items. Ask yourself if you truly need it and if it aligns with your budget.

  • Seek free or low-cost alternatives: Look for free or low-cost alternatives for entertainment, hobbies, or everyday needs. Utilize libraries, community centers, or free recreational activities instead of always opting for expensive options.

Additional Resources:

  • Sorted: Provides resources and tools for managing your finances, including budgeting guides and calculators:

  • MoneyTalks: Offers free financial advice and support, including budgeting workshops and personalized guidance:

  • The Commission for Financial Capability: Provides information and resources on financial literacy and managing your money:

Remember: Managing household finances is a continuous journey, not a one-time fix. Be patient, celebrate your progress, and don't be afraid to seek help from professionals or utilize available resources. With dedication and a collaborative approach, you can achieve financial harmony in your whānau and build a secure future together.