Young adults are saving and investing more – here's how to do it well

Each week the NZ Herald's Cooking the Books podcast tackles a different money problem. Today, it's how Covid-19 has shaped money management for a new generation. Hosted by Frances Cook.<br /><br />Here’s the thing. Many people were already struggling financially before all of … everything .. hit us. <br /><br />In the 12 months to February, research from Kiwi Wealth showed young people, Maori and Pasifika, and those who were renting, had low levels of wealth and money confidence. <br /><br />One of the big problems is the high cost of living, while another is increased levels of debt. Those are probably related, in a reinforcing negative cycle. <br /><br />So when Covid came along, what happened next? <br /><br />Well plenty are doing it tough, but there are also those who are increasing their financial activity. <br /><br />Particularly young people are seeing this as a time that they might be able to get ahead, with online share trading particularly popular, as some try to take advantage of the market dipping. <br /><br />In fact 84 per cent of New Zealanders have increased their savings or investments since Covid-19 hit.<br /><br />So what’s going on out there, and how can we all navigate a weird time to try to get ahead? <br /><br />For the latest episode I talked to Kiwi Wealth's Melissa Vasta. <br /><br />If you have a question about this podcast, or question you'd like answered in the next one, come and talk to me about it. I'm on Facebook here <a href="https://www.facebook.com/FrancesCookJournalist/" rel="noopener">https://www.facebook.com/FrancesCookJournalist/</a> Instagram here <a href="https://www.instagram.com/francescooknz/" rel="noopener">https://www.instagram.com/francescooknz/</a> and Twitter here <a href="https://twitter.com/FrancesCook" rel="noopener">https://twitter.com/FrancesCook</a>