Bay spends up big on entertainment

We spend more on movies, concerts, gaming and gambling that most other regions. File photo.

People in the Bay of Plenty are more likely to splash out on entertainment compared to many other regions, according to data gleaned from Westpac New Zealand.

Westpac drilled down into the data of more than 96,000 of its CashNav app users and found those in the Bay of Plenty spend the third highest amount – around $223 on average per month – at the movies, concerts, or on gaming or gambling.

Only Auckland and Taranaki were ahead in spending on entertainment.

Westpac's CashNav app allows customers to track their daily spending habits by categorising what they spend their money on and identifying what is holding their saving aspirations back. It also notifies them if their spending is higher than usual.

The app does this by automatically categorising customers' EFTPOS, debit and credit card transactions into one of 12 categories such as eating out, shopping, travel, entertainment, home, groceries, transportation, utilities, education and health. Retailers choose their category, although CashNav users can re-categorise them if they want to.

Westpac NZ General Manager of Marketing, Products and Transformation Andrew Kerr says CashNav allows customers to monitor their spending and take control of their purchasing habits.

'They can see if their spending is going up or down over the month and identify exactly where to cut back in order to save more.”

However, when it comes to eating out, buying groceries or spending on health, people in the Bay of Plenty are more careful. Their spending was more middle-of-the-road compared to some of the other regions.

'People in the Bay of Plenty like to enjoy themselves in terms of spending on entertainment but they are careful in other areas,” says Andrew.

'CashNav app users are able to see when their spending is creeping up and how it's affecting their saving for the bigger things they want. From there, they can make different spending choices.”

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1 comment

Spend up merchants?

Posted on 05-10-2017 15:27 | By MISS ADVENTURE

Want and desire an Art gallery and a Museum to boot and a cost to ratepayers of tens of millions initilaly and many millions annually in lost rates money, all paid by a majority who want nothing to do with it, the claims being for example that nothing to do in Tauranga? Obviously the spending activities here tell us something else than the spin reflected elsewhere by a few/miniority of spinner of a yarn.


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