Tangerine aims to get Canadians of all ages talking about money during Financial Literacy MonthTORONTO, Nov. 3, 2016 /CNW/ - A recent survey by Tangerine found that only half of Canadians consider themselves knowledgeable when it comes to personal finances. Of the remaining half, 39 per cent consider their personal finance knowledge "satisfactory", saying they only have enough knowledge to get by, and 12 per cent say they have limited or no knowledge. Despite the need for greater personal finance knowledge, 79 per cent of Canadians surveyed say they have savings goals for the future. Top savings goals include saving for retirement (45 per cent), saving for an emergency fund (32 per cent) and saving for big vacation or travel (28 per cent). To achieve these goals, 41 per cent say they set a budget and stick to it, while 51 per cent say they try and stay on budget, but sometimes lose track. Overall, 84 per cent reported that they live within their financial means. When asked what would prevent them from staying on budget or achieving their savings goals, 51 per cent of Canadians surveyed cited the rising cost of living and 36 per cent said last-minute or unplanned expenses. "Financial Literacy Month is a great time to remind Canadians that there are many tools and resources out there to help them save more, spend less and meet their financial goals," said Lucianna Adragna, Director of Deposit Products at Tangerine. "For example, Tangerine's Forward Thinking blog has simple, helpful, and engaging content that provides practical information on all the financial milestones we encounter throughout our life." Up and Coming Young Adults When it comes to young adults (aged 27-34), Tangerine's survey found that 68 per cent are actively saving money using a savings account, RSP account or TFSA (Tax-Free Savings Account), and they are putting away $270 a month on average. Among the 32 per cent in this age bracket who do not actively save, they claim it's because they have no money left after bills (43 per cent), are paying off student loans and/or credit (20 per cent) or have other priorities (17 per cent). A quarter (24 per cent) of 27-34 year olds currently have student debt ranging from less than $5,000 to over $15,000, and almost six in 10 (57 per cent) of them are only able to pay the monthly minimum. Canadian Families When it comes to money concerns for families (aged 35-54 with children under 18), over half (53 per cent) worry they're not saving enough for their children's post-secondary education, and even more (73 per cent) are concerned they're not saving enough for retirement. Over half of Canadians in this group (54 per cent) are still paying down debts (mortgage, credit card, etc.) and feel this is preventing them from saving more.