Hint: have fun, but avoid waking up with a spending hangover

    TORONTO, Dec. 10 /CNW/ - What advice do Canadian women wish they had
received when they were younger? According to the results of the 2007
TD Waterhouse Female Investor Poll, it's an even split between enjoy
life/follow your dreams and take care of your finances.
    More than a quarter (27%) of poll respondents indicate that advice in
each of these two areas is what they wish they had heard. "Get a good
education" is well down the list at 11%, advice not to rush into a serious
relationship is even lower at 4%, and "choose your partner/spouse wisely"
barely registers at 2%.
    "When it comes to love and marriage, most women seek advice from friends
first and parents last," says Patricia Lovett-Reid, Senior Vice-President,
TD Waterhouse. "But what they value most - and would have wanted to hear from
their parents - is advice that would help them live life on their own terms."

    Practice makes perfect

    According to the poll, the vast majority of women (87%) are satisfied
overall with their lives, with older women aged 56 to 69 expressing the
greatest satisfaction. This age group is the happiest with work/life balance,
having time for themselves, their household financial situation and their
relationship with their spouse or partner.
    "There's truth to the old adage that with age comes wisdom," says
Lovett-Reid. "As we get older, many of us have learned what's really important
to us and where we're willing to make compromises. Also, by the time women
reach their fifties and sixties, many have gotten their financial house in
order, which frees them up to focus on the things that really matter to them."
    While the 2007 poll finds that most women are making some effort to
achieve financial success, there is still a gap between their goals and their
actions:

    -   Only four-in-ten (42%) pay off their credit cards in full each month
        to avoid interest charges
    -   Less than four-in-ten (39%) contribute regularly to an RRSP
    -   Only one-quarter (25%) seek investment advice from a professional
        advisor
    -   Just one-in-ten (11%) contribute the maximum amount allowed to their
        RRSP

    Overall, women are less satisfied with their household's financial
situation than they are with many other areas of their lives. Satisfaction
with their financial situation ranked ninth, after their relationships with
children, spouse and parents, their home, job, health, work/life balance and
the amount of time they have to themselves.

    Living in the moment

    Younger women in particular are missing opportunities to be financially
independent. Among those aged 25-35, just over a third (35%) pay off credit
card balances each month and only 14% seek professional investment advice.
They are also less likely than other age groups to agree that one should stay
in full control of one's investments, to postpone a major purchase rather than
buy on credit, or to believe women should be financially independent from
their spouses.
    Women aged 25-35 are also more likely than other age groups to "feel it's
ok to splurge on gifts for special occasions" (65%), to "spend too much money
on things they don't really need" (39%) and to find themselves suffering from
a "spending hangover" (26%).
    "There's a bit of a 'live-in-the-moment' ethos emerging from the poll
findings, especially among younger women," comments Lovett-Reid. "But it's not
a choice between living life or saving money. Financial independence and
living life to the fullest are two sides of the same coin. For me, the message
is straightforward: the surest way to fulfill your dreams and get the most out
of life is to be financially independent."

    If I had $100,000...

    When asked what they would do with a $100,000 windfall, Canadian women
prove to be a fairly practical bunch, with more than half (57%) of respondents
saying they would pay down debt. Less than a quarter (19%) say they would
spend the money on such things as a new house (8%) or vacation (5%).

    Regional highlights

    -   Women in Atlantic Canada are more than twice as likely as the
        national average (24% vs. 11%) to have wanted to be advised to get a
        good education when they were younger
    -   Prairie women would have most wanted financial advice (36% vs. 27%
        national average), while Quebec women are least likely to have wanted
        financial advice (16%)
    -   Women in BC are most likely to pay off their credit cards each month
        to avoid interest charges (51% vs. 42% national average), while women
        in Ontario and B.C. are most likely to seek advice from an investment
        advisor (29% vs. 25%)
    -   Women in the Prairies and Ontario were most likely to say it's ok to
        splurge on gifts for special occasions (68% and 66%, respectively vs.
        57% national average), while women in Quebec were least likely (28%)

    The 2007 Female Investor Poll was conducted for TD Waterhouse using
TNS Canadian Facts' online panel. Respondents for the survey were women aged
25 to 69 who have sole or shared responsibility for household financial
planning or investment decisions. A total of 995 women participated in the
online survey between September 14th and 19th, 2007. Final data are weighted
to be representative of women by age and region.

    About TNS

    TNS is one of the world's leading market information groups, providing
market measurement, analysis and insight through its operating companies in
70 countries. Working with national and multi-national organizations, we help
our clients develop effective business strategies and enhance relationships
with their customers. In Canada, TNS Canadian Facts provides full-service,
primary market research. Its mission is to become clients' sixth sense of
business(TM) by giving them a deeper understanding of their customers'
behaviour, better anticipation of their actions and greater insight into what
they really want.

    About TD Bank Financial Group

    The Toronto-Dominion Bank and its subsidiaries are collectively known as
TD Bank Financial Group. TD Bank Financial Group serves more than 14 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 Wholesale Banking, including TD Securities. TD Bank
Financial Group also ranks among the world's leading on-line financial
services firms, with more than 4.5 million on-line customers. TD Bank
Financial Group had CDN$422 billion in assets as of October 31, 2007. 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: Stephen Ledgley, NATIONAL Public Relations,
(416) 848-1376, sledgley@national.ca