Most people would say No, not just in Canada but all around the world.  Basically, we have moved away from the concept of having to save money to go buy what we want.  One of the side effects of this sort of behaviour is that we end up spending our tomorrow, yesterday and therefore continuously live our lives on the edge today.
Very few countries in the world have a healthy domestic savings rate.  Those that do are regarded as economic leaders: China and India.  Both countries follow a culture of saving, despite the fact that consumer credit is available.
The creation of the Tax Free Savings Account in Canada was supposed to give Canadians an incentive beyond RRSP investments to save money for tomorrow.  In my opinion, the creation of the vehicle in itself is not quite enough.  There needs to be education around it.  Education regarding personal fiscal responsibility and planning needs to start in high school and be a mandatory part of the curriculum.  Not only that, but I strongly recommend that the best employers are those that actively encourage their employees to learn fiscal responsibility and financial planning by hosting programs in-house and encouraging their employees to participate along with their spouses.  Unfortunately, high school kids and university students are often not serious enough about their financial futures to pay much attention to learning the skills required for personal financial success.



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