Canadians say saving is easier than investing

When Canadians hear the word investing, the first thought they have is stocks (17 per cent).  When they hear savings, it’s cash (28 per cent) and almost half of Canadians (46 per cent) say they find it easier to save than invest, according to a recent Scotiabank study conducted by Harris/Decima assessing the saving and investment habits of Canadians.

There are some (11 per cent) who believe investing is easier. The rest of Canadians find there is no difference between saving and investing, either indicating that they are equally difficult (19 per cent) or equally easy (24 per cent).

Regional breakdown – Easier to Save or Invest

Of the Canadians who indicated that it’s easier to save, half (52 per cent) feel this is true because it requires little research or effort and 36 per cent think it is safer. On the other hand, of those who believe investing is easier than saving, 14 per cent based their decision on the fact that with investing, money is difficult to access, as it is often locked-in and there are penalty fees for withdrawals. An additional 10 per cent of this group felt that investing is easier because it can be done automatically.

Though investing may be more difficult for most Canadians, almost half of the population (46 per cent) consider themselves both an investor and a saver and an additional 10 per cent consider themselves only an investor.

Regional breakdown – Saver or Investor

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