Holiday season spending was higher despite pandemic – RBC

A quarter of Canadians surveyed say they spent more than expected

The pandemic did not bring out the Scrooge in Canadians at Christmas.

An RBC survey has found Canadians spent an average $735 dollars over the holiday season – up from $709 in 2019.

A quarter of those polled admitted they spent more than they intended to.

Albertans were the biggest spenders at an average $906.

More Ontarians (29%) than anyone else felt they overspent by an average $410.

As to how they intend to make up for that, most expect to cut back on lunches, coffees and entertainment, others will focus on reducing day-to-day expenses, while some expect to carry that extra debt on their credit cards for a couple of months.

Those polled identified a number of things they would do differently to prepare for the next holiday season, including setting aside savings on a regular basis and spending less/resisting any temptations to spend more than they’ve saved.