Millennial women were the most to overspend in Canada during the holidays: poll

Survey says only 58 per cent of people in B.C. vowed to spend less in 2017

Millennial women are likely tightening their purse strings after a lavish holiday season, a new RBC poll released Tuesday suggests.

About half of shoppers across Canada spent too much money while shopping for gifts in December, the survey says. That’s up 10 percentage points, from 41 per cent last year.

Women between the ages of 18 and 34 years old overspent the most, while men over 55 spent the least.

Slight more than half of B.C. residents used cash or debit for their holiday shopping, while 39 per cent financed it via credit. They spent the most of their bundles on electronics, followed by toys, home decor and then music, books and movies.

In the same breath, just under half of those responding to the survey in B.C. said they plan to cut back on entertainment, while 38 per cent wanted to cut down on lunch and coffee and another third want to spend less on day-to-day expenses.

What about the savvier shoppers who aren’t feeling the pinch this month? Just under half of them didn’t want the debt, while one-quarter budgeted and tracked their spending.

Not everyone has learned their lesson however – 42 per cent of B.C. shoppers won’t do anything differently in 2017.

 

Canadians vow to spend less onCreate column charts

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

Just Posted

VIDEO: How a Langley small business owner ended up working six months for free

Take a close look and get references before you sign a contract, she advises other business owners

A new approach needed to get Canadians home from India, MPs say

Cloverdale-Langley City MP Tamara Jansen and Abbotsford MP Ed Fast issue joint call

B.C. firefighters only responding to most life-threatening calls during COVID-19 pandemic

The directive comes after province spoke with paramedics, fire services, according to top doctor

Insurance shock for Langley condo owners

Claim-free two-year-old townhouse complex told premium will nearly triple

VIDEO: Langley cheer club holds virtual workouts

Video apps allow practice sessions that respect social distancing

‘Better days will return’: Queen Elizabeth delivers message amid COVID-19 pandemic

The Queen said crisis reminds her of her first address during World War II in 1940

Emergency aid portal opens Monday, cash could be in bank accounts by end of week: Trudeau

Emergency benefit will provide $2,000 a month for those who have lost their income due to COVID-19

Education, not enforcement: B.C. bylaw officers keeping a watch on physical distancing

A kind word, it turns out, has usually been all people need to hear

COVID-19: Hospitals remain safe for childbirth, say Vancouver Island care providers

North Island Hospital has been asked to share its perinatal COVID-19 response plan

Canadian cadets to mark 103rd anniversary of Vimy Ridge April 9 virtually

Idea of Captain Billie Sheridan in Williams Lake, B.C. who wondered what to do in times of COVID-19

B.C. VIEWS: Pandemic shows need for adequate care home staffing

Seniors in B.C. care homes face challenging times

QUIZ: How much do you know about hockey?

Take this test and find out how well you know Canada’s most popular winter sport

Most Read