The number one personal finance priority for Canadians this year is to reduce their debt.
That’s according to a new pulse poll of the Top 10 Financial Resolutions for 2012 by Investor Education Fund.
Of the 653 Canadians who participated in the online seasonal poll in late December, almost 60% say that reducing their debt load is their single biggest financial resolution for the next 12 months.
Opening or contributing to RRSPs ranked eighth on the list of money issues to address this year, “a recent — and worrying — trend that reflects the reticence of Canadians to start saving for retirement now, not tomorrow,” says Perry Quinton, vice president of marketing, IEF.
“The debt load burdening many Canadians is a barrier to saving. IEF can help Canadians act now to get their financial houses in order.”
Top 10 financial resolutions for 2012:
- Reduce my debt load
- Create an emergency fund
- Create a budget to track my spending
- Use my credit card(s) responsibly
- Set up an automatic savings plan
- Open/contribute to my TFSA
- Start tax planning now for 2012
- Open/contribute to my RRSP
- Pay off my mortgage
- Lower planner/advisor fees