News

All items tagged with: disposable income

Shopping Spoiler Alert: Canadians Aren’t Saving Enough

Posted: December 04, 2018 By : Evelyn Jacks & Beth Graddon
Posted in: Strategic Thinking, Current Issue , Debt Management, statistics canada, interest rates, Bank of canada, retirement savings, Steven Poloz, household savings rate, disposable income, Financial Planning Standards

In the holiday spirit yet? This news might dampen it: on Friday November 30, Statistics Canada released a report on GDP, income and expenditure for the third quarter of 2018. The big news? In 2018, Canadians have had the worst household savings rate on an annual basis since 2005, averaging only 1.4% over the past year. For the third quarter of this year, the household savings rate was a mere 0.8%; the lowest quarterly level since early in 2017.