HomeNEWSBattle of the nations: Which country has the savviest spenders?

Battle of the nations: Which country has the savviest spenders?

A new study by Savoo has explored the saving and shopping habits of different nations to determine where in the world the savviest spenders live. And one thing we can say is that New Zealand needs to up its game.

The world’s most savviest spenders:

  1. Belgium
  2. France
  3. Germany
  4. Luxembourg
  5. Ireland
  6. USA
  7. Austria
  8. UK
  9. Denmark
  10. Switzerland

The world’s least savvy spenders:

  1. Greece
  2. Korea
  3. Russia
  4. Poland
  5. NZ
  6. Slovakia
  7. Estonia
  8. Portugal
  9. Spain
  10. Norway

Thanks to the average spending of £1,026 a year and their high number of online searches for discounts, Belgians have been crowned the world’s savviest spenders. Belgians make more than 943,597 searches online for discount codes terms which works out be a staggering 81 searches per 1,000 people.

At the other end of the scale is Greece, the world’s least savvy spenders. This ranking comes down to the country’s low average household savings, with a negative saving rate of -14 percent. According to research, the Greeks are spending their money on daily expenses due to the country’s financial circumstances that have put them into debt.

But it’s not just Greece that is unable to save, six other countries came out with a negative saving rate. These countries are Portugal (-2.5%), Latvia (-1.3%), Poland (-1%), Finland (-0.8%), New Zealand (-0.3%) and South Africa (-0.1%).

Managing Director at Savoo Ed Fleming says that being a savvy spender is not just about how much you manage to save.

“Shopping smartly is one of the biggest contributors to being a savvy shopper and Belgians is hitting the nail on the head when it comes to this,” he says.

“Taking those extra steps to be a savvy spender by searching online for discount codes or even by shopping second-hand is something we can all do to help put those few extra coins into our savings.”

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