Westpac NZ has launched a special 11.95% p.a. debt consolidation personal loan rate, following research that shows more than a quarter of customers are concerned their holiday spending will cause financial stress in 2026.
Westpac’s survey of 1,087 customers revealed 28% of people felt their holiday spending would probably or definitely cause financial stress in the new year, with a further 23% saying it may do.
23% of people also thought additional costs during January and February would cause extra financial pressure, including annual bills like insurance, paying off summer holiday and festive season expenses, as well as school and study supplies.
19% of respondents said they would use debt to cover those costs. With that in…