- Nearly 2-in-3 (64%) Canadians are putting a major purchase or life milestone on pause amid high costs and economic and geopolitical uncertainty
- Despite caution driving the pause, 7-in-10 (71%) Canadians still believe the right savings habits can keep their big goals within reach
- More than one-third (36%) say rewards help offset everyday costs, while 24% want their bank to make earning value across everyday spending easier
TORONTO, Aug. 5, 2026 /PRNewswire/ -- Nearly two-thirds of Canadians are hitting pause on a major purchase or life milestone – but even more believe their big dreams remain achievable with the right savings habits, according to EQ Bank's new Save Little, Dream Big survey. The findings point to a growing need for banking that delivers more value through everyday spending, as Canadians are turning to points, rewards and cashback to help their money go further.
Conducted by Angus Reid in July 2026, the survey found that Canadians are weighing the cost of living alongside concerns about the economy, housing, job security and broader global geopolitical uncertainty when deciding whether to move forward with major life plans or purchases. Yet, these plans are not necessarily abandoned. Many are waiting for clearer signals that conditions are improving while finding creative ways to maintain momentum in the meantime.
"While some major plans are on pause, Canadians haven't stopped dreaming – they're just looking for more smart, practical ways to keep moving toward their goals," said Daniel Rethazy, Executive Vice President, Personal Banking, EQ Bank. "That resourcefulness is helping shape what we're building at EQ Bank. Canadians are telling us they want value that is simpler, more connected and easier to earn through the purchases they make every day. By making every moment count for more, we can help Canadians earn meaningful value from routine spending and turn everyday choices into progress."
The Financial Waiting Room: Most Canadians Postponing Major Purchases and Life Milestones
Many Canadians are finding themselves in a proverbial 'financial waiting room' and are pressing pause on large but often deferrable expenses. Among those postponing, the most common delayed expenses were major travel (49%), home renovations (34%) and buying a car (31%).
This pause is also extending to major life-building decisions, such as buying a first home (20%), retiring (13%), getting married (11%) and even having children (10%). This financial waiting room approach is especially pronounced among younger Canadians aged 18 – 34 who are delaying plans, with 38% holding off on buying their first home, 1-in-4 (25%) pausing on both moving out of their parents' home and on getting married, and 1-in-5 (21%) putting off having children.
Waiting for the Green Light: Canadians Remain Optimistic but Await Clearer Signals to Move Ahead
Canadians aren't necessarily abandoning their plans – they're waiting for a signal to move forward. Among those delaying purchases or milestones, a majority (57%) are waiting for the cost of living to become more affordable, nearly a third (29%) are waiting for housing prices to ease, while 28% are watching for lower fuel costs. About 1-in-5 (21%) are waiting for trade tensions with the United States to cool, and 20% are waiting for a calmer geopolitical landscape. Finally, nearly 1-in-5 (18%) are waiting for a more favourable job market – rising to 30% among younger Canadians aged 18 – 34.
Dreams Delayed, Not Diminished: Most Canadians Believe Big Goals are Within Reach
Even as some plans are paused, Canadians remain focused and optimistic about the future – 7-in-10 (71%) believe their big dreams are still within reach with the right savings habits. Among the one-third (36%) moving ahead with a major purchase or milestone, half (50%) say having sufficient savings to manage risk helped them take the next step.
Big goals are also driving everyday spending habits: nearly two-thirds (64%) say a larger financial goal often or always influences their routine spending. For 51% of Gen Z, having a big dream even motivates them to work harder.
Small Wins, Bigger Progress: Canadians Are Craving More Value from Everyday Spending
As Canadians look for ways to keep moving ahead while larger goals remain on hold, points, rewards and cashback are taking on a more important, practical role: more than one-third (36%) say rewards help offset rising everyday costs. Nearly a quarter of Canadians (23%) say rewards help make experiences or purchases possible that they might otherwise avoid, while 22% say rewards allow them to treat themselves without guilt.
Canadians also want that value to be easier to earn. Nearly 3-in-10 (28%) say maximizing rewards across providers currently feels like a hassle, 25% say they do not earn meaningful value across enough of their everyday spending, and 24% wish their bank made it easier to earn value across more of the purchases they already make.
The findings suggest an opportunity to make everyday value simpler, more connected and easier to earn – helping routine purchases contribute to the bigger goals Canadians are still working toward.
About the survey
The survey was conducted by EQ Bank among members of the Angus Reid Forum, between July 8 and July 14, 2026, among a sample of 1,807 adults (aged 18 and older living in Canada) who are members of the Angus Reid Forum. The sample included oversamples of 150 Gen Z respondents and 150 Millennial respondents. Results were weighted to Statistics Canada parameters for age, gender and region. The survey was conducted in English and French. For comparison purposes only, a probability sample of this size would carry a margin of error of +/-2.3 percentage points, 19 times out of 20.
About EQ Bank
EQB Inc. (TSX: EQB) is a leading Canadian financial services company with approximately $150 billion in combined assets under management and administration. It is the parent company of Equitable Bank, the country's seventh largest Schedule I bank by assets, which operates EQ Bank, Canada's Challenger Bank™.
Our purpose is to remake banking so every Canadian gets ahead, every day. Since 1970, we have built thoughtful financial solutions that serve nearly 4 million customers, turning everyday moments into meaningful progress. As the exclusive financial partner of Loblaw Companies Limited's PC Optimum™ loyalty program – one of Canada's largest loyalty programs with more than 18 million members – EQ Bank's financial solutions are deeply embedded into the daily lives of Canadians.
We provide personal and commercial banking services to Canadian households and businesses through everyday banking, tailored lending and connected payments, while fueling competition and choice in Canadian banking. Through our subsidiaries, we also offer home and auto insurance, estate and trust services, credit union solutions and alternative asset management.
To learn more, visit eqb.investorroom.com and eqbank.ca, or connect with us on Instagram, Facebook or LinkedIn.
Media contact:
Danielle Mason
Director, PR & Communications
press@eqb.com
Investor contact:
Lemar Persaud
SVP, Investor Relations and Enterprise Performance Management
investor_enquiry@eqb.com
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SOURCE EQ Bank
