How much should I save each month?

The commonly cited rule in NZ is 20% of after-tax income toward savings and debt repayment (the 50/30/20 split). But housing costs in Auckland and Wellington mean many Kiwis realistically save 10-15% — start where you can and automate the transfer on payday.

What's the fastest way to save money in NZ?

Do a subscription audit first — most Kiwis have $50-150/month in recurring charges they've forgotten about. Next, check your power and internet providers against Powerswitch; switching often saves $200-400/year. Then automate savings on payday so it doesn't depend on willpower.

Can Steady help me save automatically?

Steady shows you your safe-to-spend amount, tracks progress on savings goals, and sends alerts when you're close to overspending. Because NZ banks don't yet support automated bank-to-bank transfers through Akahu, actual money movement still happens in your bank app — but Steady tells you exactly when and how much.

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Tips12 March 2026 Updated 9 Apr4 min read

How to Audit Your Subscriptions and Save Hundreds

The average Kiwi wastes $127/month on forgotten subscriptions. This 5-minute audit finds every one — and shows you how to cancel them.

Illustration of a list of subscription services with some crossed out in red

Know your Safe to Spend every week

Steady connects your bank and tracks it all automatically — no spreadsheets. Join the waitlist for early access.

Subscription creep is real. A streaming service here, a gym membership there, that meditation app you used twice — it adds up fast. It's one of the biggest leaks when you're trying to save money in New Zealand.

The average NZ household

Most Kiwi households spend $150-300/month on subscriptions and recurring services. That's $1,800-3,600/year. At least 10-20% of that is typically going to services you don't actively use.

The 3-step audit

Step 1: Find them all

Check your bank statements for the last 3 months. Look for any recurring charges. Common ones people forget:

Streaming: Netflix, Spotify, Disney+, Neon, Apple TV+, YouTube Premium
Apps: Cloud storage, productivity tools, dating apps, news paywalls
Fitness: Gym memberships, fitness apps, class passes
Insurance: Contents, car, health, life, pet
Software: Adobe, Microsoft 365, password managers

Don't rely on memory — check the actual statements. Or use an app that automatically detects recurring payments from your bank transactions.

Step 2: Categorise them

For each subscription, mark it as:

Essential — you'd notice immediately if it stopped (power, internet, insurance)
Regular use — you use it at least weekly (Netflix, Spotify, gym)
Occasional — you use it monthly or less
Forgotten — you didn't even remember having it

Step 3: Cut the bottom two

Cancel everything marked "forgotten" immediately. For "occasional" subscriptions, ask: would I sign up for this today at this price? If no, cancel.

Common savings for NZ households

Service	Typical cost	Alternative
Unused gym membership	$15-25/week	At-home workouts, outdoor exercise
Duplicate streaming	$15-20/month	Pick 2, rotate the rest
Premium app tiers	$5-15/month	Free tiers are usually enough
Magazine/news subscriptions	$10-20/month	Library access, free news sources

The rotation strategy

Instead of keeping 4 streaming services year-round, keep 2 and rotate the others. Subscribe to the third for a month, binge what you want, cancel. Subscribe to the fourth next month. You get access to everything but only pay for 2-3 at a time.

Set a quarterly reminder

Subscriptions creep back. Set a calendar reminder every 3 months to review your recurring payments. Most people save $20-50/month on the first audit alone.

Automate the detection

Rather than manually checking statements every quarter, use a personal finance app that automatically detects recurring payments and shows you the total. Apps like Steady flag new subscriptions and show your total monthly recurring costs — making it easy to spot creep before it compounds. See how Steady tracks bills.

Written by Sam Wilson

Founder, Steady

Sam is a New Zealand founder building Steady — a personal finance app designed for Kiwis, integrated with every major NZ bank via Akahu. He writes about money, bank integrations, and what actually works for everyday New Zealanders.More about Sam