Canadians finding it hard to save money

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VANCOUVER (NEWS1130) – We may be tightening the purse strings and watching our spending, but a new RBC poll suggests we are actually saving less. More than half of Canadians now report keeping a budget, but nearly 40 per cent say they’re saving less than last year.

On Vancouver streets, we find those with regular paycheques agree it’s harder to save. But one man’s project-oriented construction business is picking up, meaning there’s more money around:

“I’m putting money aside for the kids’ education, retirement,” he explains. “Definitely, saving is one of the key areas when there’s more money around.”

One woman tells us she’s never been a good saver. “I think it’s those surprise costs that just come out of nowhere: the car breaking down or getting accepted into grad school.”

The poll asks why it’s hard to save. Nearly one-third blame discipline and almost a quarter say they can’t figure out how much they can afford to set aside each month.

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