Canadians agree that the best advice for someone trying to achieve a financial win is to suggest they:
- be patient and stick with their plans (35%);
- get organized (22%); and
- save a little bit every payday (22%).
That’s according to a recent survey by Credit Canada Debt Solutions and Capital One Canada, which also says that when people achieve a win, many (67%) will celebrate it by telling those close to them — a potential source of referrals for advisors.
The survey finds helping clients feel financially secure is more important than helping them buy a house or a car. It adds Canadians rank those typical milestones as less important financial wins than feeling financially secure in their daily lives.
Here’s how the survey’s financial wins break down:
- Feeling secure in daily life (25%)
- Becoming debt-free (15%)
- Buying a home (12%)
- Living independently (8%)
- Buying a car (8%)
Further, 80% of Canadians surveyed report having a financial win this year. Many (85%) attribute their wins to planning, as well as using online banking tools (41%) and information from financial institutions (34%).
“We know that money is a major cause of stress, which is why having a financial plan is so important,” says Canada’s financial literacy leader Jane Rooney, in a release.
The survey was in celebration of Credit Education Week, which runs November 7 to 11, 2016. Survey responses were collected from 600 participants across four major Canadian regions.
Also read: Tap new client pools to make your mark