B.C. placed the highest value in the country on saving and investing for the future, according to RBC debt poll results released this morning.
Half of B.C. residents say that saving for the future is as important as paying down their non-mortgage debt, the poll found.
Teresa Perri, the bank’s regional vice-president of Tri-Cities, said the Lower Mainland real estate market may be a driver in the emphasis B.C. places on savings and investment.
“Our purchase price in the Lower Mainland for a home is a significant investment, so planning and organizing your finances are really an important move for the Lower Mainland and certainly throughout British Columbia.”
The poll found that B.C. residents, responding to their debt situation, are more willing than the national average to:
-delay or cancel plans to take a vacation (26% versus a national average of 24%)
-buy a new home (10% versus the national average of 8%)
-retire (9% versus the national average of 6%).
The poll found that B.C. residents match national averages for their happiness levels regarding credit, with 58% saying they are happy with their debt situation and 42% saying they are unhappy.
Jenny Wagler
Twitter: JennyWagler_BIV