Stressed-out working Canadians want to invest in themselves but can't afford it
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5 minute read
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:
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