Canadian millennials invest regularly, but tight budgets are a barrier
The findings arrive as Haventree prepares to launch registered products – including TFSAs, First Home Savings Accounts (FHSAs), and RRSPs – through its digital bank in November 2026, positioning the bank directly in the path of millennial demand for straightforward, accessible savings tools.
Saving consistently, but in small amounts
While the regularity of saving is notable, the scale tells a different story. Nearly seven in 10 millennials (69 per cent) save less than $10,000 per year, and 62 per cent invest less than that same threshold annually. Just over a quarter (28 per cent) put aside less than $2,000 a year across savings and investments combined.
One in 10 cannot set anything aside at all, and 15 per cent have no capacity to invest. The most cited obstacle: a lack of disposable income, named by 55 per cent of respondents as the single biggest barrier to saving more – well ahead of debt (16 per cent) and limited financial knowledge (eight per cent).
“What’s holding them back isn’t knowledge or willpower,” said Fern Glowinsky, President and CEO of Haventree Bank. “It’s how much is left at the end of the month.”
A gender gap runs through the data. Men are meaningfully more likely than women to put larger sums away each year – one in four men save $10,000 or more annually, compared to 19 per cent of women.
