Less than a third of Canadians save for their financial goals



    ING DIRECT's new GOAL GETTER helps Canadians to save for goals

    TORONTO, July 28 /CNW/ - A recent Ipsos-Reid poll found that less than a
third of Canadians (30%) save to achieve specific financial goals and almost
one-fifth (17%) feel they don't have enough time to think about or plan for
their goals. This behaviour combined with cost of living increases are
squeezing Canadians' ability to save for their most important financial goals
such as retirement and purchasing a home.
    To help Canadians save for and track their financial goals, ING DIRECT
has launched an online tool called GOAL GETTER. GOAL GETTER works in two ways
to help people save: by date or by dollar.
    Setting a goal by date allows users to plan how much they need to save on
a regular basis to achieve that goal. For example, if a family vacations every
August and spends approximately $5,000, GOAL GETTER calculates how much needs
to be saved each week or month to reach that goal in time.
    Alternatively, setting a goal by dollar amount allows users to determine
when they can reach a savings goal based on how much they can afford to save
on a regular basis. For example, a couple wants to buy an LCD flat screen
television for their new house. The television costs $2,000 and they know they
can save $25 per week. GOAL GETTER will tell them when they can buy the
television, in cash.
    GOAL GETTER keeps track of progress, displaying up-to-the-minute results
on how close users are to reaching their goals based on savings and interest
accumulated in an ING DIRECT high-interest Investment Savings Account.
    "We believe that savings helps Canadians achieve a very important goal,
and that's the power and freedom that results from incorporating healthy
savings habits into everyday living," said Peter Aceto, president and CEO of
ING DIRECT. "Whether it's saving a dollar a day for a rainy day or for a more
significant goal such as a child's education, ING DIRECT is committed to
giving Canadians the tools and power to succeed."
    Canadians can begin saving and tracking their goals with the GOAL GETTER
by visiting www.getyourgoal.ca. The site provides examples of Canadians' most
common savings goals such as saving for a home or education, with tips on how
to achieve those goals. Also available is a savers' forum where users can meet
other people who are saving for similar goals and discuss how to reach those
goals.

    
    What are Canadians saving for?

    According to the survey, Canadians' top five savings goals include:
    -  Retirement (58%)
    -  Travel (38%)
    -  Purchasing a vehicle (25%)
    -  Purchasing a home (24%)
    -  Renovations (20%)
    

    About ING DIRECT

    ING DIRECT is Canada's largest direct bank with over 1.5 million Clients
and more than $23 billion in total assets. ING DIRECT is giving the power of
saving to all Canadians by offering high-value, simple products such as high
interest savings accounts with no fees or service charges and low rates on
mortgages. ING DIRECT has been operating in Canada since 1997, and since that
time Clients have earned more than $3 billion in interest. Clients can bank
with ING DIRECT 24 hours a day, 7 days a week, at www.ingdirect.ca or by
calling 1-800 ING DIRECT.

    (*) The survey findings are the results of an Ipsos Reid/ING DIRECT online
poll conducted from October 23, 2007 to October 29, 2007. This online survey
of 1,582 individuals was conducted via the Ipsos I-Say Online Panel, Ipsos
Reid's national online panel. The results are based on a sample where quota
sampling and weighting are employed to balance demographics and ensure that
the sample's composition reflects that of the actual Canadian population
according to Census data. Quota samples with weighting from the Ipsos online
panel provide results that are intended to approximate a probability sample.
An unweighted, probability sample of this size, with 100% response rate would
have an estimated margin of error of +/- X 3 percentage points, 19 time out of
20.





For further information:

For further information: To arrange an interview or for more
information, please contact: Lisa Naccarato, ING DIRECT, Office: (416)
758-5072, Mobile: (416) 885-0348, lnaccarato@ingdirect.ca


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