A study asked Canadians if they are the “savers” in their relationship, but do they put their money where their mouth is?
According to a survey commissioned by EQ Bank, 70% of Canadians see themselves as the saver in their relationship, and only 53% see their partner as a saver. It’s a classic example of a gap in perception, and in this case, the financial reality is quite sobering.
Most Canadians polled self-identified as “savers,” but four in 10 have less than $5,000 in savings; 5% have no savings at all. When it comes to priorities, most Canadians reported saving for short-term priorities, with 78% reporting savings goals such as vacations, electronic devices, eating out, and fashion items.
"Whether you are the perceived spender or saver in a relationship, it's very important to make saving a priority – be it for a romantic vacation or growing old together," said Dan Dickinson, vice president for digital banking at Equitable Bank.
The survey, which was conducted by Environics Research Group on a nationally representative sample of 1,000 Canadians in relationships, found other saving and spending patterns among couples:
Most Canadians polled self-identified as “savers,” but four in 10 have less than $5,000 in savings; 5% have no savings at all. When it comes to priorities, most Canadians reported saving for short-term priorities, with 78% reporting savings goals such as vacations, electronic devices, eating out, and fashion items.
"Whether you are the perceived spender or saver in a relationship, it's very important to make saving a priority – be it for a romantic vacation or growing old together," said Dan Dickinson, vice president for digital banking at Equitable Bank.
The survey, which was conducted by Environics Research Group on a nationally representative sample of 1,000 Canadians in relationships, found other saving and spending patterns among couples:
- 15% say they often or sometimes disagree with their partner on money matters.
- Women (18%) are more likely to say they disagree with their partners when it comes to money issues, while men (89%) are more likely to report agreeing with their partner on such matters.
- Separating the respondents by city, Halifax residents (93.2%) are most likely to agree with their partners.
- Twenty-five per cent of Canadians have reported resenting their partner for spending joint money.
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