We’re at an Economic Turning Point — Why Spending Visibility Matters More Than Ever

The Reserve Bank has cut the official cash rate nine times — from 5.5% in August 2024 down to 2.25% — and Westpac's economists are calling it an "economic turning point" for New Zealand. On paper, the recovery is here. But most Kiwi households, even high earners, still aren't feeling it on their bank statements. SortMe CEO and Co-Founder Carl Thompson and Nick Crawford, General Manager at wealth advisory firm The Private Office, think the gap between the headlines and the lived experience comes down to one thing most households can't answer: how much do you actually spend? Drawing on what The Private Office sees across its advisory clients and what SortMe sees across thousands of connected household accounts, this episode makes the case that economic turning points demand better spending visibility, not better forecasts. In this episode:

• What Westpac's "economic turning point" actually means — and why households aren't feeling it yet
• The living-cost squeeze hiding underneath the OCR cuts (energy up 9.1%, insurance up 10%, local rates up 12.2%)
• Why financial stress isn't just a low-income problem — and why dual-income six-figure households are often guessing by thousands of dollars a month
• The single question wealth advisors find hardest for clients to answer: "how much do you spend?"
• What SortMe sees in real-time spending data when economic pressure builds (hospitality and subscriptions are the first to drop)
• Why reactive trimming without a full picture usually cuts the wrong things
• What a good wealth advisor actually does — hint: picking investments is the last item on the agenda
• Why SortMe is the bridge between day-to-day financial reality and long-term planning
• Three things worth doing before next quarter — regardless of whether you work with an advisor

Read the full article: sortme.com/post/economic-turning-point-spending-visibility