Looks like Canadians are starting to heed the warnings swirling around household debt: An ING Direct Survey finds Canadians are in better financial standing compared to 2011, with one third saving at least $1000 every year.
When it comes to planning ahead financially, Canadian young adults are lagging behind. Only 51 per cent have emergency savings of any kind – and starting a retirement fund is often a far off thought. With the state of Canadian pension plans plummeting, it’s more crucial than ever to get on the savings fast track.
It’s unavoidable – bad luck is just a part of life. And when it comes to your financial standing, a twist of fate can leave you broke in a flash. Prepare for the worst – job loss, illness and other unforeseen events – with a savings plan that’ll pad your crash landing and help you recover your finances.