A new study by Vancouver-headquartered HSBC Bank Canada has found that Canadians are putting aside more money as the world faces a synchronized global recession.
Almost 85% of Canadians have some savings put aside, which is up from 67% of respondents to HSBC's savings survey in 2006.
Canadians in the Prairie provinces were the most likely to have money set aside. Alberta has the highest savings rate at 92%. Residents in Manitoba and Saskatchewan had the second highest savings rate at 89%.
Roughly 86% of Ontarians have savings set aside, while 84% of British Columbians have money for a rainy day.
Atlantic Canada had the lowest savings rate of 77%.