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Canadian savers are young as well as old

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VANCOUVER (NEWS1130) – It seems like young people are pretty good at saving money. A Scotiabank study finds people between the ages of 18 and 34 are just as likely to have a savings plan as their parents.

Valerie Pringle with Scotiabank says she was pleased to find people in their 20s and early 30s are doing a pretty good job of putting a little cash aside for a rainy day.

“We think that they’re sort of the penultimate Me generation, spoiled by their baby boomer parents.  But I think they’ve seen some pretty sobering financial issues, you know, in terms of the cost of their own education, the cost of housing,” she says.

Pringle says almost half of young adults list their top reason for saving is to have a financial safety net. She says that’s more than any other age group.

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