Half of shoppers say they have no holiday spending budget

B.C. consumers surveyed estimate they will spend $921 this season

A new poll hosted reports that 85 per cent of British Columbians surveyed feel it’s important to have a holiday spending budget, yet only 16 per cent say they will set an exact budget.

The poll – hosted on the Angus Reid Forum for Coast Capital Savings – surveyed 805 B.C. adults from Nov. 1 to 5.

On average, those surveyed expect they will spend $921 this holiday season, through a combination of gifts, parties and outings, charitable donations, gifts for themselves and holiday decorations.

This compares to an average of $954 last year.

While 16 per cent of respondents say they will set an exact budget this holiday season, 35 per cent say they will set a loose budget and likely spend more than planned, while 49 per cent will not set a spending budget at all.

“The temptation to spend beyond our means during the holiday season is something we can all relate to,” said Rachel Coyle, vice president of retail operations for Coast Capital Savings.

More than three-quarters (77 per cent) of respondents say they expect to pay off their holiday bills within the first month.

Almost half of respondents (49 per cent) feel holiday spending will put a bit of pressure on their household finances, with nine per cent feeling a lot of pressure.

Participants also highlighted a number of ways in which they will try and keep spending down, including placing a dollar limit on gift giving, making personalized gifts or crafts, limiting the number of purchases for themselves, and spending quality time with friends and family instead of exchanging gifts.

RELATED: On average, each Canadian spent more than $2,500 online in 2018



newsroom@abbynews.com

Like us on Facebook and follow us on Twitter

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Photographer captures Port Alberni personalities in black and white portraits

Meet John Douglas, Courtney Naesgaard in double exhibit Jan. 18 at Rollin Art Centre

Alberni Valley Community Foundation opens grant application process for 2020

Nearly $30K available for Port Alberni-based charities

Stray cat with ‘serious burns’ recovering at Alberni SPCA

The BC SPCA’s Alberni-Clayoquot branch is asking members of the public for help with medical costs

B.C. government puts kibosh on drag racing at Alberni Valley Regional Airport

AVDRA was hopeful for a three-year temporary contract to race at the airport

Wet, white and windy winter weather hits Port Alberni

Snow expected to turn to rain on Thursday

‘Like an ATM’: World’s first biometric opioid-dispensing machine launches in B.C.

First-of-its-kind dispensing machine unveiled in the Downtown Eastside with hopes of curbing overdose deaths

BC Green Party leader visits northern B.C. pipeline protest site

Adam Olsen calls for better relationship between Canada, British Columbia and First Nations

B.C. society calls out conservation officer after dropping off bear cub covered in ice

Ice can be seen in video matted into emaciated bear cub’s fur

Horgan cancels event in northern B.C. due to security concerns, says Fraser Lake mayor

The premier will still be visiting the city, but the location and day will not be made public

B.C. landlord sentenced to two years in jail for torching his own rental property

Wei Li was convicted of intentionally lighting his rental property on fire in October 2017

Blue Monday is a myth but seasonal affective disorder and the winter blues are real

Canadian Mental Health Association says weather can affect mood

PHOTOS: Eastern Newfoundland reeling, search underway for missing man after blizzard

More than 70 centimetres of new snow fell overnight, creating whiteout conditions

Prince Harry, Meghan to give up ‘royal highness’ titles

‘Harry, Meghan and Archie will always be much loved members of my family,’ says Queen Elizabeth II

Ice chunk from truck crushes vehicle windshield on Vancouver Island

None injured, but Nanaimo RCMP say there can be fines for accumulations of ice and snow

Most Read