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Trimming Budget Priority For 2013

Nearly four in 10 Canadians say ‘trimming the household budget’ is their top 2013 financial resolution. Next on the list were ‘creating a will or estate plan’ and ‘creating an emergency fund,’ both garnering 13 per cent of responses in the latest Manulife Financial ‘Investor Sentiment Index.’ Canadians say their top financial priority for 2013 is paying down debt or maintaining their current lifestyle. Paying down debt is the top financial priority for 31 per cent of respondents. Twenty-two per cent indicate that maintaining their current lifestyle is their financial priority for the year. "The good news is that Canadians remain optimistic about their financial future and they are taking some very simple, but concrete steps to continue making progress on their financial goals," says Paul Lorentz, executive vice-president, investment and insurance solutions. "Canadians continue to be cautious about investing and with global economic challenges continuing to dominate our headlines, this is a trend we've been seeing for several quarters." The index shows that investor sentiment in Canada softened slightly through the second half of 2012. Results from the second half of the year show the index now sitting at +20, down four points from July 2012 (+24) and down six points from December 2011 (+26).

Courtesy of Benefits and Pensions Monitor website News Alerts

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