What Would You Do With An Extra $2500?

Toronto, ON - If someone gave you $2500 what would you spend it on? A new Ipsos Reid survey conducted on behalf of Loblaw indicates that there is a variety of ways Canadians would spend the money.

Most (59%) would save it, invest it, pay bills, and/or pay for necessities: 30% volunteered that they would pay off bills; 11% would save the money; 10% would invest it; 3% would put it towards healthcare expenses; 3% would use it for their children's education; 2% would put it towards their own education; 2% would specifically put it towards university bills; and 2% say they would use the money to buy food.

• Young adults and those who are middle-aged are more likely than those who are 55 or older to save it, invest it, pay bills, and/or pay for necessities (63% vs. 52%).

Having said that, many (27%) would also go shopping or treat themselves to something: 10% of Canadians say they would take a vacation; 9% would embark on home improvements; 4% would go shopping/buy clothes; 3% would put the money towards a new car; 2% would buy a new house/put the money towards a down payment on a house; and 1% says they would buy a new computer.

• Women are slightly more likely than men to indulge (30% vs. 24%).

And, some (11%) would prefer to share the money with others: 7% say they would help family members, and 5% would give it to a charitable/religious organization.

These are the findings of an Ipsos Reid/Loblaw Companies Ltd. survey conducted from March 14 to March 16, 2006. For the survey, a representative randomly selected sample of 1002 adult Canadians was interviewed by telephone. With a sample of this size, the results are considered accurate to within +/-3.1 percentage points, 19 times out of 20, of what they would have been had the entire adult Canadian population been polled. The margin of error will be larger within regions and for other sub-groupings of the survey population. These data were weighted to ensure the sample's regional and age/sex composition reflects that of the actual Canadian population according to Census data.

For more information on this news release, please contact:
Jennifer McLeod
Senior Research Manager
Ipsos Reid Public Affairs
(416) 324-2900
[email protected]

Ipsos Reid
Ipsos Reid is Canada's market intelligence leader, the country's leading provider of public opinion research, and research partner for loyalty and forecasting and modelling insights. With operations in eight cities, Ipsos Reid employs more than 300 research professionals and support staff in Canada. The company has the biggest network of telephone call centres in the country, as well as the largest pre-recruited household and online panels. Ipsos Reid's marketing research and public affairs practices offer the premier suite of research vehicles in Canada, all of which provide clients with actionable and relevant information. Staffed with seasoned research consultants with extensive industry-specific backgrounds, Ipsos Reid offers syndicated information or custom solutions across key sectors of the Canadian economy, including consumer packaged goods, financial services, automotive, retail, and technology & telecommunications. Ipsos Reid is an Ipsos company, a leading global survey-based market research group.

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