TD survey1 finds 82 per cent of
working Canadians would invest in themselves more if they had the
financial resources to do so
TORONTO, April 19, 2018 /CNW/ - Working Canadians are
stressed. According to a recent TD survey, two thirds say they
experience moderate to high levels of stress at their job. An
overwhelming majority of them (95 per cent) consider it important
to invest in themselves, but over half (53 per cent) don't do it as
frequently as they'd like.
Canadians working in health care and social assistance, or
finance, insurance and real estate are more likely than average to
say they experience high or moderate levels of stress at their job.
While it's clear working Canadians want to devote time to
themselves, two thirds (67 per cent) of those who don't invest in
themselves as much as they'd like to say they don't because they
can't afford it. Furthermore, 82 per cent of working Canadians said
they would invest in themselves more if they had the financial
resources to do so.
"Canadians recognize the importance of taking a break and doing
something good for themselves, but often don't because of the
associated cost," says Jennifer
Diplock, Associate Vice President, Personal Savings and
Investing, TD Canada Trust. "It's important to strike a balance in
life, and one way to do that is for Canadians to view these
expenses as an investment in their well-being."
While investing in yourself can mean something different to
everyone, most working Canadians (81 per cent) say they'd prefer to
take a vacation. Millennials, however, are more likely than average
to want to start or continue a hobby (54 per cent), further their
education (29 per cent) or start a new business or side hustle (17
per cent). Ideally, three quarters of working Canadians (74 per
cent) would invest in themselves a minimum of twice per year, and
say their top motivators are relaxation (66 per cent), refreshing
themselves (62 per cent) and improving their mental health (49 per
cent).
"Whichever way you choose to find balance in the daily grind,
whether it's a family vacation or starting a new hobby, investing
in yourself doesn't have to break the bank," says Diplock. "It's
about setting a goal and managing your savings to ensure you have
enough to refresh and re-energize yourself. Try setting up a "me"
fund and make regular contributions or, if you will receive a tax
refund, use it as a starting point to help you achieve your
goals."
For those looking to strike a balance in life, TD offers the
following tips on how to help invest in yourself:
- Find your passion: Life should be about more than just
work, we need play too. Think about the activities you love doing
and schedule time in your calendar to do them weekly or monthly.
Don't know what your passion is? Experiment by trying new classes,
joining a new team or rec league, or organizing a group of friends
to try new activities.
- Use your tax refund: If you're fortunate enough to
receive a tax refund this year, like the 54 per cent of Canadians
who expect to2, why not use it to invest in yourself?
Taking a vacation or going back to school can be expensive, but
your tax refund can help provide the start you need. For short-term
savings goals, consider investing in a safe but flexible product
with a guaranteed rate, like Cashable GICs at TD, which will help
you achieve your saving and investing goals, or reach your goals
faster with a TD High Interest Savings Account, which can help
encourage you to save more.
- Take a staycation: You don't have to leave the country
to experience a relaxing vacation. Plan a vacation closer to home
to do the things you've always wanted to do but have never gotten
around to. For example, book a relaxing afternoon at a local spa,
have a leisurely lunch at your favourite restaurant or explore the
latest buzzed-about art exhibit. Plus, staying close to home can be
a more affordable option if you're looking for something to help
fit within your broader strategy.
- Start a "me" fund: Investing in yourself should be
treated like other items you're saving for, like a car or new
computer. Open a Tax-Free Savings Account that can help build your
savings faster with tax-free growth and contribute to it
regularly3. You can also set up automatic transfers
using any one of TD's Automated Savings Options to help you reach
your savings goals sooner.
For more information, please visit
www.tdcanadatrust.com.
About the TD Invest in Yourself Survey
TD Bank Group
commissioned Environics Research to conduct a custom survey of
6,021 Canadians aged 18 and older. Responses were collected
between February 20 and March 1,
2018. The results cited in this release are based on the
responses from 3,653 working Canadians.
About the TD Tax Season Survey
TD Bank Group
commissioned Environics Research to conduct a custom survey of
6,021 Canadians aged 18 and older. Responses were collected
between February 20 and March 1,
2018.
About TD Bank Group
The Toronto-Dominion Bank and its
subsidiaries are collectively known as TD Bank Group ("TD" or the
"Bank"). TD is the sixth largest bank in North America by branches and serves more than
25 million customers in three key businesses operating in a number
of locations in financial centres around the globe: Canadian
Retail, including TD Canada Trust, TD Auto Finance Canada, TD
Wealth (Canada), TD Direct
Investing, and TD Insurance; U.S. Retail, including TD Bank,
America's Most Convenient Bank®, TD Auto Finance U.S., TD Wealth
(U.S.), and an investment in TD Ameritrade; and Wholesale Banking,
including TD Securities. TD also ranks among the world's leading
online financial services firms, with approximately 12 million
active online and mobile customers. TD had CDN$1.3 trillion in assets on January 31, 2018. The Toronto-Dominion Bank
trades under the symbol "TD" on the Toronto and New York Stock Exchanges.
1TD Bank CAPA Research Poll 2018 "Invest in
Yourself", March 5th,
2018
2TD Bank CAPA Research Poll 2018 "Tax Season",
March 8th, 2018
3TFSAs are subject to annual contribution limits. Please
visit the Government of Canada
website for more information.
SOURCE TD Bank Group