Canadians scaling back on spending this holiday season, poll finds
Zach Johnson is getting a head start on his Christmas shopping, purchasing a gaming headset for his brother.
However, outside of loved ones, the university student is cutting down on gift spending this holiday season.
"No gifts for friends, just family," he said. "Now that I'm older I have to worry about bills.”
He's not the only one. A recent survey by Paypal Canada found about half of those surveyed admit they will be making financial cutbacks this holiday season to keep budgets under control.
"Nearly three out of five Canadian respondents, so 57 per cent, feel anxious that the holidays won't be as good this year due to the cost-of-living crisis," Paypal Canada spokesperson Sandie Benitah said. "After two years of coming out of the pandemic, where we had to scale back holiday celebrations, here we are again scaling back for other reasons."
Limiting travel plans, scaling back on gift giving, having a spending cap and entertaining fewer people are ways Canadians will trim holiday spending, according to the survey.
The poll also found 66 per cent of Canadians are not asking for financial help from family and friends because they believe others are struggling financially too and 52 per cent don't want others to worry.
"I don't know what I'll do this year because I have a big family," Caius Cartmill-Mccrea said.
While some think it over, others looking forward to holiday traditions.
"We are going to have a party at my husband's sister's house," Sara Carrillo said. "Less gifts and more memories."
CTVNews.ca Top Stories
BREAKING Orca calf that was trapped in B.C. lagoon for weeks swims free
An orca whale calf that has been stranded in a B.C. lagoon for weeks after her pregnant mother died swam out on her own early Friday morning.
Minister 'outraged' after AFN national chief's headdress taken from Air Canada cabin
The federal minister of Crown-Indigenous relations is calling on Air Canada to 'make things right' with the national chief of the Assembly of First Nations, who said her headdress was removed from an airplane cabin during a flight this week.
Sophie Gregoire Trudeau on navigating post-political life, co-parenting and freedom
Sophie Gregoire Trudeau says there is 'still so much love' between her and Prime Minister Justin Trudeau, as they navigate their post-separation relationship co-parenting their three children.
From faulty kids' cribs to flammable kids' bathrobes, here are the recalls of the week
Health Canada issued recalls for various items this week, including kids’ bathrobes, cribs and henna cones.
Taylor Swift dons Montreal designer's dress in 'Fortnight' video
A pair of Montreal designers' work has now been viewed over 41 million times. Taylor Swift dons a Victorian throwback black gown in her latest music video, 'Fortnight', designed by UNTTLD due Simon Belanger and Jose Manuel Saint-Jacques.
'Too young to have breast cancer': Rates among young Canadian women rising
Breast cancer rates are rising in Canada among women in their 20s, 30s and 40s, according to research by the University of Ottawa (uOttawa).
'Violation': CSIS had officer investigated after she reported a superior raped her
A CSIS officer's allegations that she was raped repeatedly by a superior in agency vehicles set off a harassment inquiry, but also triggered an investigation into her that concluded the alleged attacks were a “misuse” of agency vehicles by the woman.
'I was scared': Ontario man's car repossessed after missing two repair loan payments
An Ontario man who took out a loan to pay for auto repairs said his car was repossessed after he missed two payments.
Charlie Woods, son of Tiger, shoots 81 in U.S. Open qualifier
Charlie Woods failed to advance in a U.S. Open local qualifying event Thursday, shooting a 9-over 81 at Legacy Golf & Tennis Club.