Stress, anxiety and financial pressure rise sharply through Q2 2026
New Zealanders' financial sentiment continued to sour through the second quarter of 2026, with rising stress and falling optimism, according to Perceptive's latest Mind & Matters tracker.
Financial pressure deepens, especially for women
Perceptive's research found a growing proportion of New Zealanders reporting their income leaves little or nothing left to save once essential costs are covered. That pressure is falling unevenly: 45% of women said this applied to them between April and June, compared with 34% of men. The tracker also found fewer people are managing to save for emergencies or future goals.
That gap is already visible in borrowing behaviour — Kiwibank's 2026 State of Savings Index found 28% of New Zealanders couldn't cover an unexpected $500 bill without borrowing or selling something, and 40% had taken on debt over the past year to cover rising costs.
Cost-of-living pressure remains widespread, with the report noting that "nearly half of New Zealanders say they are more conscious of their spending, while around a third continue to cut back on what they buy." Only about one in 10 households said rising costs were having no effect at all.
Mood and outlook worsen through the year
New Zealanders' broader emotional state has deteriorated alongside the financial pressure. The tracker found that "stress, frustration, and anxiety" have all been increasing, with stress now the most commonly reported emotion nationally, while optimism and motivation have fallen to their lowest levels recorded since the tracker began.
Future outlook also shifted sharply in April, according to the report, "with expectations of things getting worse more than doubling from the beginning of the year and optimism falling to its lowest point recorded."
Perceptive attributed the decline partly to heightened global uncertainty, including escalating conflict in the Middle East, which also pushed fuel prices higher and added renewed pressure to household budgets. Confidence improved slightly through June as tensions eased, though pessimism remained well above earlier levels.
Sentiment on the country's direction stays negative
Perceptions that New Zealand is "heading in the wrong direction" have eased slightly since a high recorded in March, though around two-thirds of New Zealanders still hold that view. Negative sentiment toward the economy and the country's leadership and politics rose following the May budget announcement, before easing slightly in June, though both remain viewed negatively by a majority of respondents.
Yet the pressure isn't yet showing up in mortgage repayment behaviour. Centrix data shows the number of New Zealanders behind on payments fell to a four-year low in May, with mortgage arrears also easing — suggesting many borrowers are staying current even as broader financial confidence erodes.
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