Albertans lead the country at saving money
A recent report has found that Albertans top the country for banking cash for the future.
The Desjardins Report revealed that the average Albertan saved nearly nine per cent of their disposable income between 2020 and 2023 -- the highest in Canada and well above the national average of under four per cent.
Two factors are credited. Albertans had the most cash on hand to spent per household, around $110,000.
And affordability in the province was among the best in the country.
'Housing in Alberta is deeply affordable compared to the rest of the country,' said Randall Bartlett, Desjardin's deputy chief economist.
'Obviously it's become less affordable in recent years,' he added, 'but still much more affordable than other parts of the country, particularly the big provinces of Ontario and B.C.'
Desjardins is predicting those high savings rats will continue, especially as Alberta's households are among the youngest in the country -- and that demographic is known to save more than older age groups.
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