Canadians' choice for New Year's resolutions: "save money"

WINNIPEG, Dec. 22, 2011 /CNW/ - Canadians want to pile up the money in 2012 and are less worried about piling on the pounds, a new poll from Investors Group reveals. When asked to choose between those alternatives for a New Year's resolution, 63 per cent of respondents said saving money was more important than losing weight (27 per cent).

Resolve to change? Not so much

Most Canadians say they don't bother with New Year's resolutions (72 per cent) and those who do make them, say they have trouble keeping them.  The Investors Group poll reveals only 13 per cent say they stick to their annual resolutions while 14 per cent say they are never able keep them.

"While most Canadians don't make concrete resolutions on an annual basis, the turn of a new year is the perfect time to reflect on changes you would like to make on everything from money, to personal life to aspects of your career," said Jack Courtney, Assistant Vice-President, Advanced Financial Planning, of Investors Group. "New Year's resolution has a nice ring to it, but the important consideration is what changes are reasonable and which will have the greatest positive impact if accomplished."

Making time more important than making money

Of the resolutions that people do make, high on the list were spending more quality time with family and friends (66 per cent), getting more enjoyment out of life (65 per cent) and getting into shape (59 per cent).

Paying down debt and investing money fell further down Canadians' wish list for change (46 per cent and 32 per cent respectively).

Women, more so than men, are committed to making changes with almost one third (31 per cent) making resolutions regularly, compared with less than a quarter of men (23 per cent).

"While Canadians may consider money matters and personal time two separate issues, the two actually go hand-in-hand," said Courtney. "Having a financial plan and making the right financial choices will translate into the free time and leisure that Canadians want later in life."

Lessons from the past

In looking back at 2011, the majority of respondents said the best decision they made had to do with their personal life (57 per cent).  A decision about work was rated best by 22 per cent of respondents and 13 per cent cited a money decision as their best of 2011.

When asked about their worst decision made over the past year, 34 per cent said it had to do with money. A decision in their personal life was viewed as worst by 26 percent while 20 per cent said a work-related decision was a 2011 low point.

"A retrospective look at the past year is a common undertaking at this time of year," Courtney said. "And it can be quite valuable if we are prepared to learn from past mistakes and focus on making improvements in the coming year."

About the Survey Methodology

This data was gathered through teleVox, Harris/Decima's national telephone omnibus survey.  The data were gathered between December 1 and December 4, 2011 for 1,000 completed interviews.  A sample of the same size has a margin of error of 3.1%, 19 times out of 20.

About Investors Group

Investors Group, founded in 1926, is a national leader in delivering personalized financial solutions to Canadians through a network of approximately 4,600 Consultants located throughout Canada. In addition to an exclusive family of mutual funds and other investment vehicles, Investors Group offers a wide range of insurance, securities, mortgage and other financial services. Investors Group is a member of the IGM Financial Inc. (TSX: IGM) group of companies. IGM Financial is one of Canada's premier financial services companies with over $120 billion as of November 30, 2011 in total assets under management.

SOURCE Investors Group Inc.

For further information:

Ron Arnst 
Investors Group 
(204) 956-3364 
ron.arnst@investorsgroup.com

Teresa Pagnutti or Lisa Mills
Environics Communications
416-969-2721/ 416-969-2831
tpagnutti@environicspr.com/lmills@environicspr.com

For more media information, please see: Investors Group's Media Room, follow @Investors_Group on Twitter or connect on Facebook.

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