Freedom from debt=financial success

Posted by Sonya Procenko

Several friends are Christmas shopping looking for all the pre-season sales. Like many Canadian women, they're determined not to overspend and go into debt this holiday.

A recent 2008 TD Waterhouse Female Investor Poll found 37% of Canadian women say being debt-free is the definition of financial success, while only half as many define financial success as "having money for retirement (17%)." Even short-term achievements like "having money to buy anything I want" (23%) outrank retirement savings in measuring financial success.

"The fact that most women concentrate on short-term planning, budgeting and goal-setting is not surprising, it may be an even more natural response in times of economic turmoil," says Patricia Lovett-Reid, senior vice president, TD Waterhouse.

"While getting your spending under control is important, it's not enough. Without a long-term investment plan, we cannot achieve a comfortable, worry-free retirement."

For more information, visit TD Waterhouse online.

Image courtesy of www.freepixels.com

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Freedom from debt=financial success

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