Bollards comments hiked the NZD 1 whole cent, wow... some speech!!!

Shouldn't you have been locked away in your office creating strategies to reverse the dollars trend? we're really surprised the farmers in HB allowed to you leave .. how many millions did your irresponsible self-indulgent warm fuzzies cost exporters?

The country really needs cheap imported LCD tv's and interest free loans to go because thanks to you Mr Bollard, that's the only way New Zealanders will ever be able to afford them.

Next time you think of something nice to say about our economy, check with people who have a clue because clearly you are OUT OF TOUCH!

Sounds great! as soon as they scrap my student loan, I will! It's taking 10% of my income, which is incidentally what the recommended savings level is.

I tried saving, then Petrecevic blew it all on his holiday house in Fiji. Safest place to 'save' my money is on the mortgage. Govt should let us put 100% of kiwisaver into our mortgage instead of unsecured funds. Then I might join up.

I obviously read this differently to what most people do. I read this as the most important part:

Bollard said that with slower growth in household income now expected, households will have to reduce spending growth in order to reduce debt.

If you reduce your spending, you will reduce your debt - if you aren't spending as much then you have more money to pay of your debts - hire purchases, mortgages etc etc. As you pay that money back to wherever you have borrowed it, they are able to pay back the foreign investors who they have borrowed the money from, thereby reducing the currents debts and enabling us to pull ourselves out of this slump...

But that's just me!

I think its pretty much common sense that you should not be in debt... hes saying we should save to get ourselves out of debt. Learn2Read and stop being stupid. By all means dont save and get further into debt, prove mr Bollard wrong, go on... prove him wrong.. I mean hsi advice is really really backwards right.

Save, what save

$300 rent for two people, $50 on gas a week, $150 at the supermarket, Phone, power, Overrated expensive Broadband. Oh these were the basics only.

Sorry Bollard, could you run it past me again and explain where the incentive is for me to save?

And which scam should I invest my wonderful savings in?

Many of the above posters seem to have got it right, there IS NO incentive to save.

Give me strength

Clearly Mr Bollard is well removed from the reality from most Kiwi's daily grind - jobs are being lost in the hundreds per week, increasing basic livings costs (look at our current power accounts...just for starters)I think it is hard enought for the average kiwi to just get by let alone save!!! and what about the ongoing mixed messages which change from month to month or week to week, depending on what publication you read...save, spend, save, spend....no sign of any long term strategy - what is it about hammering the wider community...with it being our fault - it is about time that there was some accountability and responsibility and long term strategy that is consistent further up the food chain....Just give me a break!!!! I am over this!!!!!

My wife & I have been a saver all our lives and we get penalised for doing so. We get taxed to hell on our "savings" and as FrankieTee said, if you get made redundant you don't get any assistance if you have "SAVED". I wrote to the previous governments' “Monetary Policy” Sub Committee, stating there is no incentive to save. If you invest into property you get all these tax breaks but if you invest in banks & finance companies you get none. Now correct me if I’m wrong, but wasn’t it property over capitalization the cause of this latest mess?? Both Labor and National disagreed with me in that property investors are advantaged over investors. As for financial advisors, we used a very reputable advisory company only to lose much of our savings. Oh, the Govt. says, “Do your homework” – yea right!! If financial advisors get duped by corrupt financial companies, what chance do the “Ma & Pa” investors have – NONE! I say, SPEND, SPEND, SPEND and cry to the Govt. when you are old and broke as they seem to help those who cant help themselves!! Bollard is correct in that we “should save”, but the powers that be have their own agenda – check out how many politicians have financial property investments – you will be surprised!

How are we meant to save? Local Government keeps on increasing rates, and Central Government is allowing the banks and the power companies to rip us off. Were not all on high paying salaries like the MP's and the Prime minister. Sure I would save if I were paid as much as they were, or have Multi-millions in the bank like John Key, but most New Zealanders are barely getting by - and have the MP's forgotten we are in a recession at the moment and alot of people are loosing thier jobs.