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Smaller Budgets with Bigger Impact: Canadians Plan to Slash Holiday Spending, But Mostly Buying Local: TD Survey
Smaller Budgets with Bigger Impact: Canadians Plan to Slash Holiday Spending, But Mostly Buying L...
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[{"type":"text","content":"Smaller Budgets with Bigger Impact: Canadians Plan to Slash Holiday Spending, But Mostly Buying Local: TD Survey\n\n\nSmaller Budgets with Bigger Impact: Canadians Plan to Slash Holiday Spending, But Mostly Buying Local: TD Survey\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\nCanada NewsWire\n\n\nWhile more than a third of Canadians surveyed are cutting back, 57% are putting at least half their holiday budget toward small businesses\nTORONTO, Dec. 8, 2025 /CNW/ - The countdown to the holidays is on, but this year, Canadians are reconsidering their festive spending habits. According to a new TD survey, more than one in three Canadians (36%) intend to cut back on holiday expenses this season, up significantly from 32% last year. In addition, 60% of those cutting back say that groceries and household essentials instead will account for at least half of their total spending during the holidays.\nHoliday Squeeze: Canadians Get SavvyThe survey reveals that Canadians appear to be rethinking traditions and getting creative with their celebrations. Among those cutting back, two-thirds (67%) blame the higher cost of living, but 29% are prioritizing saving. Canadians are adopting a range of strategies to keep spending in check:\n46% are cutting back on gifts for family,44% are dialing down social spending, and38% are scaling back on gifts for friends.But even the best-laid plans can go awry. A staggering 77% admit they're vulnerable to overspending, lured by flash sales, pressured to give meaningful gifts or swept up in the quest to make the holidays magical for their kids.\nWhile only one in four Canadians (24%) have enough extra income to cover holiday expenses, others are getting resourceful by having dedicated savings for this time of year (26%), cashing in loyalty points (24%) or even taking on a side hustle (11%).\nYounger Canadians appear to be feeling brighter about their holiday budgets – and are boosting them accordingly. One in four Gen Z and Millennials (25% and 24% respectively) are planning to spend more this holiday season...