- TD Canada Trust Young Adult Money Poll reveals that students and
           recent graduates understand the importance of saving -

       - Almost 80% of Canadian students and recent graduates would save or
         pay off debt if they came into money
       - Part-time jobs are the number one source of income
       - Almost half of Canadian students and recent graduates get financial
         advice from their parents

    TORONTO, Nov. 17 /CNW/ - What would you do with a $10,000 windfall? If
you are like the majority of Canadian students and recent graduates you would
invest or save some of the new-found money (42%) or use it to pay off debt
(37%), according to the recent TD Canada Trust Young Adult Money Poll. And
while nearly two-thirds of current and recent students are living with debt,
most act responsibly when it comes to spending and saving their money.
    "There is a myth that students are irresponsible when it comes to saving
their money however this is simply not the case. Our findings show that nearly
80% of respondents would either save or pay off debt if they suddenly received
$10,000," says Anita Steele, Senior Manager, Young Adults Marketing. "Getting
finances in order and controlling spending can be quite daunting but there are
many tools and resources available to help students, such as the TD Money
Lounge on Facebook which has applications like Cover Your Costs to help manage
expenses and living costs."
    Living with debt is a fact of life for many students and recent
graduates. In fact, 22% of those surveyed have more than $15,000 in debt, 18%
have between $6,000 and $15,000 in debt and 23% have less than $5,000 in debt.
The good news is that 37% of current Canadian students and recent graduates
have no debt at all.
    Young adults are planning for their future with more than half (53%) of
students and recent graduates surveyed saving in some capacity, such as in a
savings account, in GICs mutual funds or in RRSPs.
    The current level of debt affects the amount of money people are saving
with 64% of those without debt currently saving, versus 38% of those with
$15,000 or more debt setting aside funds. Despite the debt, students remain
conscientious with their money. Thirty-eight per cent of those polled rely on
a part-time job as their primary source of income, 21% rely on their parents
and 20% rely on student loans.
    On a daily basis, students and recent graduates are spending the bulk of
their money on groceries (45%). Entertainment and car follow at 15% and 12% of
money spent respectively. Those with less than $5,000 in debt or no debt at
all, are more likely to spend money on entertainment.

    Other poll findings:

    -  86% of students and recent graduates have a credit card in their name
    -  56% of students and recent graduates report that the total balance
       across all their credit cards is less than $500
    -  Education (26%) topped the list as the biggest financial concern
       followed by personal finances (25%) and affordable housing (21%)
    -  27% of respondents expect to save between $6,000 and $15,000 by the
       age of 25
    -  53% expect to live on their own after graduating from university or
       college
    -  49% turn to their parents as their primary source of financial wisdom

    "We know a lot of students get advice and guidance on financial matters
from their parents. But we also want them to know that they can come and talk
to us as well," says Steele. "We want to help our customers at every stage of
their financial lives, especially at the all important beginning."

    About the TD Canada Trust Young Adult Money Poll:

    The TD Canada Trust Young Adult Money Poll explored the financial
situation and habits of Canadian students and recent graduates. The study was
conducted using the Angus Reid Forum among English and French speaking
Canadians, aged 18 to 24, who are attending an undergraduate or post-graduate
program, or who graduated university or college in the past two years. The
sample was based on responses from 1,222 men and women based on fieldwork
conducted from October 22 to 28, 2008.

    About Young Adult Initiatives at TD Canada Trust

    TD Canada Trust offers a variety of resources for students and recent
graduates such as TD Money Lounge on Facebook
(www.facebook.com/tdmoneylounge). The TD Money Lounge group for university and
college students discusses the financial side of student life and offers
information about student products, contests, giveaways, and helpful advice.
Launching later this month on the TD Money Lounge is "Hippopost," a fun way to
create and mail postcards with your Facebook images.
    Financial products for students and recent graduates include the TD
Canada Trust Value Plus Account and Student Line of Credit for undergraduates.
Further information is available at www.tdcanadatrust.com/student.

    About TD Bank Financial Group:

    The Toronto-Dominion Bank and its subsidiaries are collectively known as
TD Bank Financial Group. TD Bank Financial Group is the seventh largest bank
in North America by branches and serves approximately 17 million customers in
four key businesses operating in a number of locations in key financial
centres around the globe: Canadian Personal and Commercial Banking, including
TD Canada Trust; Wealth Management, including TD Waterhouse and an investment
in TD Ameritrade; U.S. Personal and Commercial Banking through TD Banknorth
and Commerce Bank (to be known together as TD Bank); and Wholesale Banking,
including TD Securities. TD Bank Financial Group also ranks among the world's
leading on-line financial services firms, with more than 5.5 million on-line
customers. TD Bank Financial Group had CDN$509 billion in assets as of July
31, 2008. The Toronto-Dominion Bank trades on the Toronto and New York Stock
Exchanges under the symbol "TD", as well as on the Tokyo Stock Exchange.

For further information: Carolyn Abbass, Jennifer Meneses, Paradigm
Public Relations, (416) 203-2223, cabbass@paradigmpr.ca,
jmeneses@paradigmpr.ca