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More Canadians building rainy day funds; Albertans the biggest savers

TORONTO - More Canadians are setting aside money for a rainy day in the current recession compared to the boom times of two years ago, a new survey shows.

TORONTO - More Canadians are setting aside money for a rainy day in the current recession compared to the boom times of two years ago, a new survey shows.

A survey for HSBC suggests that 84 per cent of Canadians have some savings put aside for the future or an emergency. That's up dramatically from 67 per cent when the survey was done two years ago.

The survey suggests Albertans are the best with their money, with 92 per cent saying they have some savings, followed by Manitoba and Saskatchewan at 89 per cent, Ontario at 86 per cent, British Columbia at 84 per cent and Quebec at 80 per cent.

Atlantic Canada has the lowest rate of savers at 77 per cent, the survey says.

HSBC says the money being socked away includes savings accounts and RRSP investments.

The survey by market research firm Opinion Search included 1,000 Canadians in February with a margin of error of plus or minus three per cent, 19 times out of 20.

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