Canadians aren’t as savvy as they think: study shows
Posted Mar 7, 2015 6:19 am.
This article is more than 5 years old.
When it comes to saving for a rainy day, it looks like there are a lot of Canadians who could use an extra lesson or two.
That is according to a new study from Tangerine.
Tangerine found only 25 per cent of Canadians would identify themselves as “super savers.”
The numbers also revealed that 50 per cent don’t even have a savings plan.
Silvio Stroescu, Manager of Savings and Investments, said it doesn’t have to be difficult, it just takes some discipline and motivation.
“The best way to get started is to make a list of all the automatic payments that come out of our accounts on a regular basis, then take a peek through this list and say is there a way for us to save a little bit of that money?”
He suggests then setting savings up in a separate account and start thinking about your future.
Stroescu noted that the study did find that there are a few people looking ahead.
“One out of three said they’re saving for retirement, so that’s good news, especially those who have a long time ahead of them.”
The survey also found those who are saving are stocking away just over $500.00 a month.
