16 Dec 2011

2012 to be a year of saving for many Canadians

Next to losing weight, reducing debt and saving money are consistently some of the top New Year's resolutions Canadians make. And according to a recent survey, 2012 is no exception.

A recent poll conducted by TD Canada Trust indicates that looking to the new year, approximately six in 10 Canadians say they will try to set aside at least 10 percent of their paychecks to put toward their savings accounts or retirement nest egg.

"This time of year, we focus heavily on budgeting for holiday expenses," said Raymond Chun, TD Canada Trust's senior vice president. "But in reality, it's the steps you take during the other 11 months of the year that are going to make the biggest difference to your overall financial picture."

To make saving easier, Chun said Canadians should get their financial houses in order. This may include using document storage or portable storage containers to house financial statements and bills. However, going paperless may be a better alternative as many retailers, companies and lenders make online payments an option.

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