- Only 11 per cent think it's easier to invest than to save
- Quebecers encouraged to Let the Saving Begin!
MONTREAL, Dec. 6 /CNW/ - When Quebec residents hear the word investing, the first thought they have is money (22 per cent). When they hear savings, it's retirement and pension (33 per cent), according to a recent Scotiabank study conducted by Harris/Decima assessing the saving and investment habits of Canadians. Forty-one per cent of Quebecers say they find it easier to save than invest. There are some (11 per cent) who believe investing is easier. The rest of Quebecers find there is no difference between saving and investing, either indicating that they are equally difficult (27 per cent) or equally easy (22 per cent).
When asked about the difference between investing and saving, 30 per cent of Quebecers say investing involves growth and returns, while 27 per cent say saving is putting money aside for future use.
"At Scotiabank, our goal is to help make saving and investing their hard earned money easier for Quebecers and to do so, we wanted to get a better understanding of their thoughts and habits around saving and investing," said Diane Giard, Scotiabank Senior Vice-President, Quebec/Eastern Ontario Region. "We believe that everyone has money that can be saved or invested and our job is to help our customers find that money and help them invest in their future.
"Whether it's saving up for a big purchase, setting money aside in an emergency fund or investing for the future, knowing how to save or invest and how much, can be a bit overwhelming," continued Ms. Giard. "There isn't a one size fits all answer and that's where we can help."
Let the Saving Begin is a Scotiabank program designed to inspire and empower Canadians to get on track with their saving, investing and borrowing habits.
Built on three simple principles, Let the Saving Begin encourages Canadians to:
- Save automatically, because it works;
- Invest for your future, because no one else will; and
- Borrow to get ahead, not fall behind.
To raise further awareness of the Let the Saving Begin program, Scotiabank reserved a section of seats for customers and their families at Sunday's Guy Lafleur Farewell Tour at the Bell Centre. In addition to attending the game, the Bank's guests were given the opportunity to meet NHL alumni and former Montreal Canadiens Stephane Quintal and Stephane Richer prior to the game.
"Whether it's a hockey game or trip to the museum, a day out for a family can, at times, be costly," said Ms. Giard. "Hopefully the families that attended yesterday's event will Let the Saving Begin with the money they would have spent on their family day."
About the survey
A total of 1,011 completed surveys were collected from a random sample of Harris/Decima's online panel members across Canada. The study was conducted from October 14th, 2010 to October 25th, 2010.
This was a standard panel survey among a random sample of Harris/Decima's Canadian panel members. In a fashion similar to a telephone study, email addresses from their panel were pulled at random, according to population and gender specifications, in order to make the study representative of the Canadian population by region and gender. When contacted to solicit participation, participants had no prior knowledge of the subject matter of the study. Harris/Decima controls access to the study through passwords to ensure that respondents can participate only once. Subsequent to completion of the study, the data was weighted by region, age, and gender.
Scotiabank is one of North America's premier financial institutions and Canada's most international bank. With more than 70,000 employees, Scotiabank Group and its affiliates serve some 18.6 million customers in more than 50 countries around the world. Scotiabank offers a broad range of products and services including personal, commercial, corporate and investment banking. With assets above $526 billion (as at October 31, 2010), Scotiabank trades on the Toronto (BNS) and New York Exchanges (BNS). For more information please visit www.scotiabank.com.
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Jenna Farrell, Scotiabank Media Communications at 416-866-3792 or firstname.lastname@example.org