Quick Login


90% of Canadians Opting for Optimism in 2019

New poll shows saving up for new experiences and personal growth top wish lists for new year

Toronto, January 8, 2019 – Despite negative news headlines, a new national poll conducted by Advanis for Motive Financial shows 90% of Canadians are highly optimistic about their personal goals and saving money in 2019.

Topping the list of these goals is saving money for experiences and opportunities for personal growth. This beats out the want for material items such as recreational vehicles and designer clothing. When asked “2018 is almost over. What are your goals for next year?” respondents indicated they want:

  • to take steps to turn a dream into reality – 36%
  • to attain personal growth (take a course in a new skill, join an interest group) – 32%
  • the chance to seize 'the moment' more – 31%

To make their dreams a reality, the survey found that half (51%) of Canadians are saving regularly for their future, vacations, retirement and increased cost of living. In fact, 73% of Canadians say that savings are important to them and 64% look for ways to bank smartly.

To delve further into Canadians perspectives on saving money, the poll asked: “If you could wave a magic wand and have a secret saving account that you could use to save for anything you would like, what would you use it to save towards?” Turns out, meaningful new experiences including the following top the list:

  • a special family vacation (40%)
  • a surprise weekend getaway (18%)
  • a once-in-a-lifetime experience like climbing Mount Kilimanjaro (14%)

And we’re also looking for opportunities to enhance our lives closer to home:

  • 32% said they would save for a down payment on a house
  • 29% want to do home renos or furnishings
  • 27% want to buy a car

The release of the survey coincides with the public launch of the Motive ™ Savvy Savings Account which boasts a market competitive, “no catch”, 2.80 per cent interest rate.

“The act of saving, by its very nature, is optimistic,” says Jeff Wright, Senior Vice President, Client Solutions, Canadian Western Bank. The MotiveTM Savvy Savings Account is designed to help Canadians achieve their goals by offering them a market competitive interest rate – with no catches or limited time offers. We are in this with our clients for the long term.”

The top ways that Canadians plan to achieve their savings goals include:

  • Watching for sales, taking advantage of loyalty programs, or using print or app coupons when grocery shopping (56%)
  • Reducing impulse purchases (47%)
  • Eating out less frequently (e.g. one less time per week) (41%)

Canadians are also clear on what they look for when pinching their pennies.

  • 81% want a savings account that offers a competitive ongoing interest rate with no time limits or other catches
  • 69% try to avoid paying bank fees
  • 64% look for ways to bank smartly (low or no fees, good interest rates, no hidden costs)

“The survey tells us that Canadians are indeed ‘savvy savers’ who are looking for tech-savvy, no-catch banking options to help them achieve their goals more quickly and easily,” says Wright. “They know what they want to achieve with their financial goals, and that they can make those goals a reality in 2019.”

For more information about the MotiveTM Savvy Savings account, visit www.motivefinancial.com/savvysavings/quiz.

Survey Methodology

A survey of 1246 Canadians was completed online during the period of Oct 30 to Nov 14 using an online panel. A probability sample of the same size would yield a margin of error of +/- 2.8%, 19 times out of 20.

Motive Financial: Bringing thrifty back. Expand/Collapse

Savers rejoice and say hello to Motive Financial, Canada’s home for the smart and practical pennypinchers.

Motive is the new name for Canadian Direct Financial. And with the new name comes a renewed focus: Savers.

Motive commends the cautious, praises the prudent, and celebrates the shrewd and sensible. Why? Because nobody does and somebody should.

"Motive is going to change the conversation around what it means to save money," said Adam Skoreyko, Division Manager at Motive Financial. "We want to know what you’re saving for and why so we can help you get there. We want to reward people who choose to be smart with their money. So to everyone who has ever been called cheap or chintzy, we’ve got your back."

The Motive Financial brand and visual identity was first introduced Feb. 28. Motive's bright colours and boundless shapes reflect the constant evolution of our goals and aspirations - financial or otherwise - and the limitless potential of what is possible when you choose to save your money.

"The future belongs to savers, and so does Motive," added Stephen Murphy, Executive Vice President, Banking, with CWB Financial Group. "We originally launched our online bank to offer personal banking products to clients seeking the ease and flexibility of digital banking while extending our reach across Canada. The switch to Motive Financial reflects a renewed focus on creating wealth and opportunity for clients from coast-to-coast. Motive is for everybody who has a reason to save their money and the discipline to do it."

motivefinancial.com allows clients to easily access their accounts regardless of what type of device they prefer to use. Offline, clients can access their accounts through one of 2,400 ATMs that are part of the THE EXCHANGE Network across Canada.

Client account numbers and passwords will remain unchanged. Motive will remain a division of Canadian Western Bank, a member of Canada Deposit Insurance Corporation (CDIC), and CWB Financial Group.

Motive Financial launches with an advertising campaign with the tagline "We're for savers."

About Motive Financial: Expand/Collapse

Motive Financial, formerly known as Canadian Direct Financial, is a division of Canadian Western Bank, a CWB Financial Group company. Since 2008, Motive has offered its products and services without traditional branch locations. By operating solely through online and mobile banking, Motive can offer daily banking and investment accounts with competitive rates and minimal service charges.

Facebook: Facebook.com/MotiveFncl Twitter: @MotiveFncl
For further information: Adam Skoreyko, 780.969.8315