40% increase in NZ people seeking financial mentors due to cost-of-living crisis; median debt rises to $14,096.
40% increase in people seeking financial mentors due to growing debt as cost of living crisis hits New Zealand, new report reveals. Median debt owed by those seeking help rose to $14,096, up $429 from 2022. Financial mentor services' funding dropped by $7 million, but 69,807 whānau received support in 2023 compared to 49,568 in 2022.
May 16, 2024
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