Weekly Digest – 21 September 2022

Weekly Digest – 21 September 2022

Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward.

Air New Zealand flies nonstop from Auckland to New York for the first time

It’s the first nonstop AKL-JFK flight, and is seen as a cheeky move towards Australian competitor Qantas, which has no comparable route. The flying time was a little over 16 hours.

Funding model for lottery grants under scrutiny

The Department of Internal Affairs released documents that reveal that the lottery grants system is a broken funding model. It preserves the status quo and overlooks Māori, Pasifika, and other minority groups.

Why the price of tomatoes is skyrocketing

Three key components to growing tomatoes – fertiliser, energy, and labour – have all shot up in price. As a result, food costs are rising quickly, with tomatoes leading the way.

Interest rates causing potential homebuyers to forget it

When you crunch the numbers, it’s possible to pay as much in interest over a 30-year term as the cost of the property itself. With today’s rates making a home cost twice its actual price, many potential homebuyers are giving up their search.

Eating fresh is more expensive than eating processed

While the cost of all food has gone up, processed food prices are rising at a slower rate than unprocessed food. It’s unwelcome news for most, and a quandary that makes little sense considering more effort has to go into processing food.

Credit scores often calculated unfairly

Stuff business reporter Rob Stock breaks down the world of New Zealand credit scoring and shows how the number often doesn’t accurately reflect the borrower. Read more here.

Frugal is the new cool for the younger generation in China

While most millennials in China imagined a future with new cars, bigger apartments, and lush vacations, an interesting shift has taken place in the wake of the COVID-19 pandemic. Many younger Chinese are now embracing a lifestyle of minimalism and frugality.

Financial literacy levels aren’t great among Gen Z – or any other generation for that matter

A recent financial literacy study by the TIAA institute and the Global Financial Literacy Center showed that Gen Z scored the lowest in answering finance-related questions correctly at 43%. The combined Baby Boomer and Silent Generation group scored the highest. However, they only answered a paltry 55% of questions correctly.

NZ sharemarket dips to start the week

Four big central banks, including the US Federal Reserve and the Bank of Japan, are announcing rate decisions this week. In anticipation, the NZX sank across the board.

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