With daylight savings this weekend, Westpac NZ is reminding New Zealanders to check if they still need all their TV service subscriptions, as new data from the bank shows customers paying for TV subscriptions are spending an average of $33 a month, up nearly 20% on the same time last year.
Mark Street, Westpac NZ Chief Digital Officer, says people sometimes forget they've signed up to ongoing subscriptions.
"With lighter evenings on the way, many people will be spending more time outdoors over the coming months," Mr Street says.
"That makes it a good time to review your winter entertainment subscriptions and think about whether you're still using them.
"If you've got multiple subscriptions and haven't tuned into a particular service over the past month or two, maybe it's time to turn it off for now."
Of those Westpac customers who are paying for a TV subscription, around one in 10 have three or more subscriptions and are spending $70 or more each month.
Recent data from Roy Morgan shows more than 3 million New Zealanders over the age of 14 have watched subscription television in an average four weeks - around two thirds of the population. That's an increase of 7.4% over the past four years.
Mr Street says spending categorisation tools like Westpac's free CashNav app, which Westpac customers can download from the app store, can help people to keep a closer eye on their spending and prevent money "leaks".
"CashNav automatically categorises Westpac customers' spending into different areas, with classifications including shopping and entertainment.
"Using tools like this can help you to work out how much you're spending each week or month on a particular area, including subscriptions."
CashNav Terms and Conditions apply.
