Gifts and entertaining will put a strain on household finances
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The holidays will have taken a big bite out of household budgets and with New Year celebrations still to come the final cost will increase further.
According to calculations by RetailMeNot, the average Canadian will have spent more than $2,000 already. That includes $1,400 on pre-holidays expenses such as presents, food and drink; plus another $600 on Boxing Day sales.
Canadians will have spent an average $215 on Boxing Day buying things for themselves, more than they will have spent on anyone else including their loved ones.
New Year’s celebrations will add another $245 to expenses per person.
But that’s where it ends though right? Surely Canadians have resolved to focus on finances in 2018?
According to the study, just 35% have included saving money in their New Year's resolutions. In addition, only 30% Canadians plan on including sticking to a budget in the new year and just 29% will create resolutions involving paying off debts.
"We all know the holidays can be an expensive season, so it's important for Canadians to keep an eye on their spending even after the holidays," says Sara Skirboll, Shopping & Trends Expert for RetailMeNot.ca.
According to calculations by RetailMeNot, the average Canadian will have spent more than $2,000 already. That includes $1,400 on pre-holidays expenses such as presents, food and drink; plus another $600 on Boxing Day sales.
Canadians will have spent an average $215 on Boxing Day buying things for themselves, more than they will have spent on anyone else including their loved ones.
New Year’s celebrations will add another $245 to expenses per person.
But that’s where it ends though right? Surely Canadians have resolved to focus on finances in 2018?
According to the study, just 35% have included saving money in their New Year's resolutions. In addition, only 30% Canadians plan on including sticking to a budget in the new year and just 29% will create resolutions involving paying off debts.
"We all know the holidays can be an expensive season, so it's important for Canadians to keep an eye on their spending even after the holidays," says Sara Skirboll, Shopping & Trends Expert for RetailMeNot.ca.
