The research found:

• Relationship strains: Most Kiwis(62 per cent)believe that worrying about finances is impacting their relationships with friends and family.
• Money struggles: Just over two-fifths of Kiwis (41 per cent) struggle to pay their monthly expenses and nearly a quarter (24 per cent) rely on credit cards or loans to make ends meet.
• Underutilised money: Only half of New Zealanders (52 per cent) feel they are making the most of their money.Of those that aren’t, around half (46 per cent) say it’s because of a lack of financial planning or knowledge.
• Health impacts: Close to half of Kiwis (48 per cent) have lost sleep or experienced stress because of their finances.
• Education gap: Although three-quarters of Kiwis acknowledge the heightened importance of financial literacy amidst the current cost-of-living crisis, most (84 per cent) have never received professional financial literacy training.

These statistics underscore the benefit of enhanced financial education among adults across the country. In response, Partners Life, in collaboration with Banqer,is introducing the Money Month Challenge, a free two-week financial literacy training course available online this August.

Economic challenges

Michael Weston, CEO of Partners Life, says:“We want to help bridge the financial literacy gap and empower Kiwis with the knowledge and tools to navigate economic challenges.Our recent findings,coupled with increasing household financial pressures, have driven us to act by investing in everyday New Zealanders’money management skills.

“At Partners Life, we recognise that a significant portion of the population are grappling with financial challenges. We want to set Kiwis up for a brighter and more secure financial future. Through our two-week financial bootcamp, we will provide Kiwis with the vital skills needed not only to survive, but to thrive.”

The free Money Month Challenge is designed for all Kiwi adults and begins on August 12.

Banqer, renowned for its innovative financial literacy programmes for schools, is equally enthusiastic about extending its reach to adults with the Money Month Challenge.

Crucial move

"With financial literacy training set to become mandatory for all Kiwi kids, it's crucial that adult New Zealanders don't miss out. Financial literacy sets Kiwis up for success, enabling them to navigate a simulated economy to gain or lose money without real-world consequences.

“Unlike future generations who will benefit from our in-school programmes, nearly half of adults (46per cent) have learned what they know about money through potentially costly mistakes. We’re delighted to offer adult Kiwis the opportunity to develop essential financial skills, thanks to Partners Life,” adds Simon Brown, Co-CEO of Banqer.

Participants of the Money Month Challenge will gain hands-on experience with financial concepts,learn new money skills and help close knowledge gaps in managing finances. From earning and budgeting to debt management, property investment and risk management, the course is designed to equip Kiwis with the tools needed for financial success.

Kiwis can sign up to the Money Month Challenge at banqer.co/nz/money-month.