Quote of the day:
Yes, I did. Most New Zealanders actually have a pretty practical attitude about how to deal with these uncertain times. They are saving more, they are being careful about their spending, they are borrowing a good deal less in some cases than they were before, and, in fact, the Government is taking its lead from New Zealand households. It needs to do the same thing, which is to spend very carefully, borrow less, get our debt down, and be choosy about where we invest our capital. Bill English
It’s not a glamorous recipe but it’s an effective one.
We’ve been spending more than we earned for too long and are now having to take a much more Presbyterian approach to life – saving more and spending less.
That’s the way it was for most people when I was a child – you saved before you spent and if you wanted something you waited until you could afford it.
In those days, tariffs and import controls meant there was a lot less to buy than there is now and most things were relatively more expensive.
But having more choices and greater temptations doesn’t alter the fact that we’re in very uncertain times and it makes good sense to save more and spend less.
Homepaddock 