How expensive is it to raise British
British Columbia Regional Fact
Are parents in B.C. saving
- Forty-three per cent of parents in B.C.
believe that it will cost more than $200,000 to raise a child to
the age of 18 (vs. 42% nationally).
- When asked about costs to attend a Canadian
university, including living expenses, 66% of parents in B.C.
estimate that in 15 years it will cost between $25,000 and $50,000
per year (vs. 63% nationally).
How many parents in B.C. have life
- Parents in B.C. are the most likely to be
living paycheque to paycheque with no savings (34% vs. 30%
- Nine per cent of parents are spending more
money than they earn (vs. 8% nationally) and 35% say they are
saving a little bit, but not enough (vs. 41%
- Eleven per cent say they are saving about
10% of their earnings each month (vs. 13% nationally) and 11% say
they are saving more than 10% (vs. 9% nationally).
About the TD Insurance Parents and
Finances survey From December 10-17, 2009, Vision Critical
- Angus Reid Public Opinion conducted the TD Insurance Parents and
Finances survey among 1,006 Canadian parents between the ages of 25
and 45 with children under 18. The margin of error is 3.1 per cent.
The results of the online survey have been statistically weighted
according to the most current education, gender and region census
data to ensure a representative sample. Discrepancies in or between
totals are due to rounding.
- Seventy-seven per cent of parents say they
have life insurance, either through their workplace benefits
program or through purchasing a life insurance policy (vs. 79%
- Parents in B.C. are the least likely to feel
their life insurance policy will leave enough money to support
their children to the age of 18 (32% vs. 45%
- Twenty-three per cent of parents say they do
not have life insurance (vs. 21% nationally).
- Of parents who do not have life
- Fifty-eight per cent feel they probably
should have it.
- Thirty-three per cent say they cannot afford
- Eight per cent say they do not feel it is
Karen McCullough / Anne Locke
Paradigm Public Relations