A new report has revealed the cost of living crisis is one of the most prominent challenges Kiwis have faced in the past five years.
A new study by OneChoice and consumer research group CoreData surveyed 502 Kiwis as part of The Kiwi Grit Report.
The report said it's captured what 'Kiwi Grit' means to Kiwis. These include actions taken to bounce back from challenges over the past five years and how they anticipate 'Kiwi grit' will help the country through trying times.
The report found 74 percent of respondents believe the rising cost of living is one of the most challenging issues Aotearoa faces, as are the impacts of the COVID-19 pandemic (66 percent), housing affordability (61 percent) and crime, scams and safety (53 percent).
It found the challenges Aotearoa have faced so far have built some grit amongst Kiwis, with 55 percent saying the COVID-19 pandemic built grit, followed by 44 percent saying natural disasters, 42 percent economic hardship, racial relations 34 percent, and extreme weather 32 percent.
Seventy percent said they believe a recession is likely to come within the next year, with 81 percent worried a recession will hit household security.
However, the report found that Kiwis generally feel well informed about the impact a recession will have on their household, with 76 percent saying they feel they understand the effect that it will have on their financial security.
It found 66 percent felt they were well-equipped to deal with a major economic recession.
Despite some challenging years, over 80 percent believe that Kiwis have been able to recover from trying situations in a positive way.
'Kiwi grit'
Fifty-five percent of respondents agree that persistence is a hallmark of 'Kiwi grit'.
The report found that 'Kiwi grit' is seen by most as something that will help us to overcome and bounce back from challenges we face in the future, with 84 percent feeling this way.
Founder of The Resilience Institute Dr Sven Hansen said general well-being is a "product of action". Of the Kiwis he works with, about 70 percent refuse to take this action and therefore experience negative consequences.
"The 30 percent that do something about it enjoy well-being. We recommend staying focused on what you can do in the present. Protect your sleep, stay active, avoid junk food, stop substance abuse, and do what you can in the present moment," he said.
