BMO Report: Why a Quarter of Canadians Didn’t Save Last Year + MORE Mar 12th

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March 11 Update: Maple Leaf Lounge in Newark leaves Priority Pass, Earn up to 5x QMiles on Qatar Airways' flights out of Montreal & more!Air Canada’s Maple Leaf Lounge at Newark airport left the Priority Pass program last week. It is not known if this is a temporary or permanent change. (Source DOC)If you are thinking of booking a flight on Qatar Airways you may want to do so this month as they have an offer of up to 5x the QMiles ! Qatar flies from Montreal to Doha and then beyond to dozens of cities worldwide. To earn the bonusyou must book by March 31 for travel April 1 to May 31. Find out more here.Bonuses as follows:o 5X Qmiles in Premium and 4X Qmiles in Economy: 01 March 2019 to 31 March 2019o 3X Qmiles in Premium and 2X Qmiles in Economy: 01 April 2019 to 31 May 2019 Posts since our last update:Save up to 35% with the Hilton Asia Pacific Resorts Sale – Book by March 19 for stays March 20 – February 2, 2020 Just a reminder that you only have a little over a week left to book this offer! Hilton Honors members…A closer look at the newly refreshed Platinum Card from American Express   The Platinum Card from American Express is now three weeks into its refresh and for the most part the…Travel Deals Hilton Asia Pacific Resort Sale: Up to 35% off when you book by March 19 for stays March 20, 2019 – February 2, 2020…

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BMO Report: Why a Quarter of Canadians Didn’t Save Last Year
When it comes to saving patterns, it seems like Canadians are caught at two opposite ends of the spectrum. According to a recent Bank of Montreal survey, 15 percent of Canadians managed to tuck away over $10,000 last year, yet a quarter of people did not save a dime.
Why Canadians are having a hard time saving
One in ten survey takers said they don’t think they can save any money this year, which begs the question, what is preventing Canadians from reaching their savings goals? Over two-thirds of people said they are stretching themselves too thin on expenses to be able to save, and 45 percent are trying to pay down debt.
Evidently, the Canadian household debt-to-disposable income ratio crept near 173.8 percent in the third quarter of 2018 – a record-high. Canadian household credit burdens are increasing, and economists are attributing it to the rise of interest rates over the past year and a half. Since July 2017, the Bank of Canada has more than doubled its key overnight lending rate, from 0…

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