A vast majority of Canadians wish they could save more, a recent survey by TD Canada Trust reveals.

The April survey of more than 1,000 Canadians found that 92% wish they could save more money. In addition, 84% of the respondents said they wish there was an easier way to save.

“What we’ve been hearing from our customers is that saving is important to them and something they could use some help with,” said Carrie Russell, senior vice president of core banking and payments at TD Canada Trust. “Things are tight right now for a lot of people. We know it can be hard to save when you’ve got a student loan, rent or mortgage payments, bills to pay and other obligations. We also know how important it is that people put money away for the future.”

TD Canada Trust is launching a new savings program, called “Simply Save,” to help Canadians reach their savings goals. The program allows clients to automatically put a designated amount into savings every time they make a purchase using their debit card.

Clients can choose an amount between $0.50 and $5.00 to save each time a debit transaction is made.

In addition, TD Canada Trust will contribute $10 for every $100 that clients save during their first year, up to a maximum of $200.

“Simply Save lets you use your debit card the same way you always do and put a little away for yourself at the same time,” said Russell.

Bank of Nova Scotia launched a similar program in 2008.

IE