According to a survey done by TD Bank, 33 percent of Canadians aged 18-33 are uninformed about registered retirement savings plans.
Only half of those surveyed knew RRSPs can be used to mortgage a house, while 52 percent thought their RRSP could be used to finance their car.
The study did indicate that young Canadians knew the importance of an RRSP but did not know how to budget for it.
What do you think are the reasons younger Canadians seem uniformed about saving money? Should money management be a mandatory class in high school?