Canadians finding it hard to save money
Posted June 22, 2011 7:39 am.
This article is more than 5 years old.
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.