Financial stress is a growing concern in New Zealand. According to a recent Stuff article, over 2 million Kiwis experience anxiety about money, with 70% of women and 60% of men reporting financial stress.
It’s no surprise, really: the NZ economy took one of the biggest hits compared with other countries last year. Our high interest rates and low economic growth have made things really hard for people as they struggle with increasing costs and less job security.
While this issue is front and centre at the moment, it’s actually not a new problem, and it highlights the need for accessible and effective financial solutions.
Loansmart emerged around the time of the global financial crisis in 2008, with a mission of helping New Zealanders tackle financial challenges and achieve their goals.
Since then, we’ve helped thousands of Kiwis achieve financial success and get back on track. With a focus on personalised service and responsible lending, Loansmart offers a range of loan options tailored to individual needs.
Real Stories: Loansmart's Impact on Everyday Kiwis
Loansmart regularly shares borrower experiences to highlight the real-world impact of our services. One recent example is Kirsty, a repeat customer who has returned to Loansmart multiple times, consistently praising the exceptional service she receives.
Kirsty came to us for assistance after having a baby in 2024. She’d taken out several loans to cover baby-related expenses and, as she prepared to return to work, wanted to consolidate them into a single, manageable payment. Her goals were to simplify her repayments, save money, and remove the security on her vehicle so she could sell it.
Loansmart arranged a $20,000 unsecured debt consolidation loan, paying off all three existing loans — including her car loan — and freeing up her vehicle for sale. While one of her other lenders tried to keep her, the competitive unsecured loan rate and trusted service from Loansmart made the decision easy for Kirsty.
Stories like hers reflect why Kiwis return to Loansmart time and again: exceptional service, personalised solutions, and advice that puts their interests first.
Taking Control: The Benefits of Debt Consolidation
One of the most common ways we help people out of financial difficulties is through debt consolidation, a powerful way to reduce the costs of debt and get back on track.
Managing multiple debts can be overwhelming, leading to missed payments and increased financial strain. Loansmart’s debt consolidation loans offer a solution by combining various debts into a single, manageable repayment. This approach not only simplifies finances but can also reduce interest rates and monthly payments.
Take the Williams family, who consolidated $99,000 in personal loans through Loansmart, resulting in a weekly repayment reduction of $200 and a lower interest rate.
Fantastic outcomes like this demonstrate how debt consolidation can provide significant financial relief and a clearer path to becoming debt-free.
Built on Responsible Lending
Loansmart’s responsible-lending ethos ensures every borrower receives advice tailored to their unique financial situation and long-term wellbeing. As the first loan broker to join the Financial Services Federation, Loansmart adheres to rigorous FSF standards that prioritise borrower protection, industry best practice, and collaboration with government on fair legislation.
Holding a Full Class 2 Financial Advice Provider Licence (FSP #7461) from the Financial Markets Authority, Loansmart’s advisers are qualified to deliver independent, unbiased guidance at no cost to clients.
By combining transparent processes, strict compliance with the Code of Responsible Borrowing, and ongoing support throughout a loan’s life, Loansmart ensures Kiwis can borrow smartly, confidently, and within their means.
Money-Saving Tips for Financial Stability
We’re not just here to provide loan services: we want to help you improve your financial health so you can achieve your goals.
Here are some practical tips that could help you take back control of your finances:
Create a Budget
Creating a budget is key to managing your finances and achieving stability. By tracking your income and expenses, you can identify where to cut costs and save money.
To start, gather all financial documents like bank statements, utility bills, and pay slips to get a clear view of your finances. Next, categorise your expenses into groups like rent, groceries, utilities, transportation, and entertainment. This helps you see where your money is going.
Build an Emergency Fund
Aim to save at least three months’ worth of expenses to cover unexpected costs. This emergency fund will provide a safety net in case of job loss, major car repairs, or unexpected medical expenses. Start by setting aside a small amount each month and gradually increasing the amount until you reach your goal.
Learn more about how to start an emergency fund.
Set Financial Goals
Think about what you want to achieve financially in the short term and long term. Do you want to save for a deposit on a house? Pay off debt? Plan for retirement? Setting clear financial goals can help motivate you to stay on track with your budgeting and saving.
Prioritise High-Interest Debt
Focus on paying off debts with the highest interest rates first to minimise overall payments. Consider consolidating your debt to lower interest rates and make it easier to manage.
Avoid Unnecessary Spending
Differentiate between needs and wants to reduce impulsive purchases. Make a list of essential expenses and stick to it. Consider waiting 24 hours before making any non-essential purchases to see if you still want or need them.
Keen to learn more? Check out our guides about how to improve your financial health.
Why Choose Loansmart?
It’s not hard to see why so many Kiwis trust Loansmart to help them achieve their financial goals. Our mission is to provide smarter, faster loans that take the hassle out of borrowing.
- Personalised Solutions: Tailored loan options to fit individual financial situations.
- Transparent Processes: Clear communication and fast, straightforward application process.
- Trusted Experience: 15+ years of helping Kiwis with financial solutions.
- Comprehensive Support: Ongoing guidance and resources to help clients make informed decisions.
By focusing on these principles, Loansmart continues to empower New Zealanders to achieve financial freedom.
Ready to take control of your finances? Start your journey to financial independence today!
