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.