How much does the average Canadian save per month?

[bitteeinbit]

I'd like to do a poll here, but given that Beyonders are pretty much ballers, I figure it's better to just ask about stats on the average Canadian (besides, the poll option is all fucked up... Can't write any questions). EDIT: Realized that poll options come after posting... So might as well as beyonders: how much are you typically able to put aside per month? Meaning: money from your paycheck which you drop into a savings account, a mutual fund or invest elsewhere... Mortgage payments don't count...

Does anyone have good stats regarding this? What's the latest you've heard Also, stats are one thing, but among your friends/family, how much would you say the average Canadian puts aside per month? I know it varies widely, but sometimes I think it must be pretty low. 100$-500$? 500-1000$? Pretty sure it can't be more than 1000$. I'd venture and guess 250-300$ or so, maybe even less, but I'd love to hear what you guys think.

[ExtraSlow]

I'd say on average, almost zero. Many people aren't saving a dime, and are in fact spending more than they save.

[Tik-Tok]

$300-$500 of my own personal money

Company matches that though, so $600-$1000 total.

Still not enough

[AudiPWR]

$0
YOLO

[a social dsease]

Might be more interesting to see what % of peoples income goes to savings. Because saving $1000/month might be nothing for someone who's making $200k/yr, but alot for someone who's only making $40k/yr.

Personally I save about 40% of my after tax income. Not going to give a $ figure but I voted >$1500

[max_boost]

Originally posted by ExtraSlow
I'd say on average, almost zero. Many people aren't saving a dime, and are in fact spending more than they save.

When you read/hear things like the average Canadian owes $16,XXX.XX

http://business.financialpost.com/20...bt-rbc-survey/

Ain't nobody got time for that! (saving money).

[Twin_Cam_Turbo]

I was saving $2000ish a month before I moved into my place, now that I have a mortgage my ultimate goal is to be saving $1000 a month after everything, but anything over $500 a month for me is a good start!

I am not baller.

[BigMass]

I save enough every month to buy a new condo downtown, cash. But then again, I am a beyond.ca member...

[ercchry]

does building equity count?

[Sugarphreak]

...

[max_boost]

Originally posted by ercchry
does building equity count?

Nope. Cold hard cash! haha

[ercchry]

Originally posted by Sugarphreak


Is it above and beyond your mandatory mortgage payment?

sure... in the form of another mortgage

[Redlyne_mr2]

Having been through lots of ups and downs I save as much as I can. I'm not rich by any means but it makes work easier when you're in a position where you could leave your job without issue if it came down to it.

[Sugarphreak]

...

[ercchry]

Originally posted by Sugarphreak


I think that qualifies... unless there is a market crash, in which case you've simply just thrown all your money away

not MY money

i do "save" as well... but i dont really build my savings too much before investing in something.. or impulse buying something stupid

[Sugarphreak]

...

[Stewjoe]

10% of my gross and the company matches 25% of that. Money is invested in shares that do well and pay out dividends.

[benyl]

Originally posted by ExtraSlow
I'd say on average, almost zero. Many people aren't saving a dime, and are in fact spending more than they earn.

Fixed.

[nzwasp]

Savings or RRSPs?

Because savings are generally a bit more liquid than saying i save XX and my company matches XX into a locked investment.

[ZenOps]

Twenty pounds of nickels.