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80% of Quebecers aged 18-34 would choose to stay at home longer to raise their child Clearfacts.ca – CROP* survey: The reflection of Quebecers’ financial position

Montreal, 3 October 2011 -

The latest findings of the Clearfacts.ca* survey conducted by the polling firm CROP on raising a child despite financial constraints show that a large majority (80%) of young Quebecers (18 to 34 years old) would choose to stay at home longer to raise their child if their financial situation would allow it. Over the course of the next year, almost one out of five young adults (16%) is planning to have a child.

But in reality, can they afford to stay at home? “No”, say the majority of young adults (61%) who would like to do so. In fact, young people say that their financial situation will force them to return to work earlier than they would like.

More precisely, two out of five (40%) young adults state that they would need over $1,000 more per month in order to stay at home to raise their child. However, it seems that a large percentage of young adults have not done the financial calculations necessary to predict the financial impact of the arrival of a child.

Participants in the Outaouais area were the largest group (52%) to estimate they would need over $1,000 per month to stay home to raise their child compared to only 23% in the Saguenay region at the opposite side of the scale.

 

Region    

How much additional money would you need each month to enable you to stay home?

Montreal

Quebec City

Mauricie

Saguenay

Eastern Townships

Outaouais

$1,000 and more

42%

26%

36%

23%

31%

52%

To find out more about Quebecers' opinion on raising a child despite financial constraints, view the Clearfacts.ca/CROP poll at www.clearfacts.ca.

*Methodology: Data collection took place online through web panel in December. A total of 1,814 Quebecers participated in this study. The results were then weighted to reflect the Quebec population. Given the non-probability sample line, the calculation of the margin of error does not apply.

About clearfacts.ca
Clearfacts.ca is an initiative of National Bank. Its primary goal is to contribute to the financial education of Canadians. The site does not have any commercial intentions and the content presented is always neutral and credible. The role of clearfacts.ca is to help its readers make enlightened decisions that will contribute to their financial health.

About National Bank of Canada
National Bank of Canada is an integrated group that provides comprehensive financial services to consumers, small and medium-sized enterprises and large corporations in its core market, while offering specialized services to its clients elsewhere in the world. National Bank offers a full array of banking services, including retail, corporate and investment banking. It is an active player on international capital markets and, through its subsidiaries, is involved in securities brokerage, insurance and wealth management as well as mutual fund and retirement plan management. National Bank has over $153 billion in assets and, together with its subsidiaries, employs 19,217 people. The Bank’s securities are listed on the Toronto Stock Exchange (NA:TSX). For more information, visit the Bank’s website at www.nbc.ca. To access National Bank’s financial education portal, visit www.clearfacts.ca.

Information (The telephone number provided below is for the exclusive use of journalists and other media representatives.):

Joan Beauchamp
Senior Advisor – Public Relations
National Bank
Tel.: 514-394-6500