Why Are Household Savings Important?

High savings rates are good for future growth, and long-term economic prosperity. Household savings can be used to finance capital investments. They also provide cushioning for an economic downturn, allowing for a more rapid recovery.

It can be tough to save money and budgeting is key. Here are a few apps and website reviewed by ratehub that could be helpful: https://www.ratehub.ca/blog/the-best-money-saving-apps-and-money-management-apps-in-canada