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Banking Canada Promotions Tangerine

Savings Savvy May Elude Canadians

Tangerine today release a survey showing that only 25% of Canadians rate themselves as ‘Supreme Savers’.   Self reported categories shook down this way:

  • 25% – Supreme Savers
  • 34% – DIY Savers
  • 24% – Savers In The Making
  • 16% – Non Savers

The survey uncovered that on average respondents splurged on unexpected purchases, regularily use their long term savings for things like trips, cars, interior decorating, or never use their savings towards what they were saving for in the first place.

Silvo Stroescu, Managing Director of Deposits at Tangerine has this to say:

There is no doubt that saving money can be difficult, and at Tangerine we strive to make it easier by providing simple tools and resources to help along the way.  One of the simplest ways to save is by setting up an Automatic Savings Program so money automatically goes into savings without you having to think about it.  This can result in more savings, ensuring you’re covered for both your long-term goals and the unexpected.

See more about their savings survey, or sign up for the best deal in banking with our orange key right here.

 

Categories
Banking Canada Tangerine

Tangerine Shows How Small Sacrifices Add Up

Hello Savers!

Tangerine Canada has recently posted a little infographic detailing how small sacrifices can aid your savings and allow you to put more money into your savings, investments, or simply to spend the money on something planned.  Evaluating your priorities so that you know what you are spending your money on can only be a good thing.

Here’s a few examples from Tangerine:

Skip the latte and go on a vacation:    $4.50 every morning = $1,512 or a vacation getaway

Save by making lunch at home:    Eating out costs an average of $10, while a brown bag lunch costs about $2.50 on average.  Savings: $2,520 per year, which could profitably be added to your RRSP contributions and save you some tax money into the bargain!

Check out Tangerine’s forward thinking blog for this item and others like it here.