Most still believe their dreams stay within reach, and they want rewards to help close the gap
Nearly two-thirds of Canadians have paused a major purchase or life milestone, though most still believe their larger goals remain within reach with the right savings habits.
EQ Bank's new Save Little, Dream Big survey, conducted by Angus Reid in July, found Canadians are weighing the cost of living against worries about the economy, housing, job security and global uncertainty as they decide whether to move ahead with big plans.
Many are not abandoning those plans, EQ Bank said, but waiting for clearer signs that conditions are improving.
Among those postponing, major travel topped the list of delayed expenses at 49 percent, the poll showed, followed by home renovations at 34 percent and buying a car at 31 percent.
The pause extends to life milestones.
Some 20 percent are holding off on buying a first home, the survey found, alongside 13 percent on retiring, 11 percent on getting married and 10 percent on having children.
Younger Canadians aged 18 to 34 are delaying more often.
According to the survey, 38 percent are holding off on a first home, 25 percent are pausing both a move out of their parents' home and marriage, and 21 percent are putting off children.
Most respondents said they are waiting for a signal before proceeding.
A majority, at 57 percent, want the cost of living to ease, while 29 percent are waiting on lower housing prices and 28 percent on cheaper fuel.
About 21 percent are waiting for trade tensions with the US to cool, and 20 percent for a calmer geopolitical landscape.
Roughly 18 percent are watching for a stronger job market, a figure that rises to 30 percent among those aged 18 to 34.
Optimism persists despite the delays.
The survey found 71 percent believe their big dreams remain achievable with the right savings habits, and 36 percent are moving ahead with a major purchase or milestone.
Of that group, half credited sufficient savings to manage risk as what helped them take the next step.
Larger goals are also shaping day-to-day money decisions.
According to the poll, 64 percent say a bigger financial goal often or always influences their routine spending, and 51 percent of Gen Z respondents said a big dream pushes them to work harder.
Rewards and cashback are taking on a more practical role for households, the survey reported.
It found 36 percent say rewards help offset rising everyday costs, 23 percent say rewards make purchases possible they might otherwise skip, and 22 percent say rewards let them treat themselves without guilt.
Frustration with earning that value also surfaced.
Some 28 percent find maximizing rewards across providers a hassle, the survey found, while 25 percent say they do not earn meaningful value across enough of their spending, and 24 percent wish their bank made it easier to earn value on purchases they already make.
Canadians "haven't stopped" pursuing their goals even with major plans on pause, said Daniel Rethazy, executive vice-president of personal banking at EQ Bank.
They are "looking for more smart, practical ways to keep moving" forward, he said.
