People are prioritising some debt, over other debt, as the cost of living crisis continues to bite.

New figures from credit company Centrix shows a rise in arrears.

Managing Director Keith McLaughlin says households that are struggling with rising costs tend to put off small debts they can afford to defer.

He told Tim Dower they focus on paying off larger debts, to keep their larger assets secure.

“They tend to prioritise what they pay, so they’ll certainly pay their mortgage first.”

There's also been a drop-off in Buy Now Pay Later enquiries, as people reduce their discretionary spending.

LISTEN ABOVE

People are prioritising some debt, over other debt, as the cost of living crisis continues to bite.
New figures from credit company Centrix shows a rise in arrears. Managing Director Keith McLaughlin says households that are struggling with rising costs tend to put off small debts they can afford to defer.
He told Tim Dower they focus on paying off larger debts, to keep their larger assets secure.
“They tend to prioritise what they pay, so they’ll certainly pay their mortgage first.”
There's also been a drop-off in Buy Now Pay Later enquiries, as people reduce their discretionary spending.
LISTEN ABOVE

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. 

Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers.