A study carried out by Coredata and commissioned by the FSC has revealed the immediate impacts of COVID-19 on New Zealanders. While we have been lucky with the low number of confirmed cases and deaths, COVID-19 has imposed uncertainty into all our lives. The study revealed that 50% New Zealanders felt that COVID-19 was impacting job security. Similarly, the study found that the interest in low-risk investments has increased by 20% from March to April 2020.
“The first survey in a major new series commissioned by the Financial Services Council has revealed that COVID-19 has delivered an unprecedented hit to New Zealanders’ financial resilience and well-being.
The Financial Resilience Index tracks how Kiwis feel on five key financial indicators from March 2020 onwards and provides a unique perspective on how we feel and think about financial issues over this unprecedented time.”
A similar study in Australia was carried out by Coredata, in this study it was reported that 51.7% of participants relied on personal savings as a safety net while 29% of participants didn’t have any safety net set in place. The same study found that only one in five have had discussions about their mortality with friends and family. Click here to read more
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