2 in 3 Canadians Plan Big Spending Cuts in 2026: TD Survey

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2 in 3 Canadians Plan Big Spending Cuts in 2026: TD Survey 2 in 3 Canadians Plan Big Spending Cuts in 2026: TD Survey /* Style Definitions */ span.prnews_span { font-size:8pt; font-family:"Arial"; color:black; } a.prnews_a { color:blue; } li.prnews_li { font-size:8pt; font-family:"Arial"; color:black; } p.prnews_p { font-size:0.62em; font-family:"Arial"; color:black; margin:0in; } .prntac{ TEXT-ALIGN: CENTER } Canada NewsWire Despite slashing budgets, 63% of Canadians say their desire to buy Canadian is stronger than last year TORONTO, Jan. 13, 2026 /CNW/ - A new TD survey reveals more Canadians are kicking off 2026 with big changes to their budgets and buying habits. Two-thirds (67%) of Canadians surveyed plan to cut back their spending this year – a significant spike from 51% in 2025. Nearly six in 10 (59%) say they'll reduce their monthly budgets by up to $1,000 per month. Younger Canadians appear to be feeling the pinch more acutely, with 86% of Gen Z and 77% of Millennials preparing to slash their budgets compared to 65% of Gen X and 43% of Boomers.  In terms of how Canadians are cutting back, top budget sacrifices include: Eating out less often (55%)Making fewer retail purchases (53%).Spending less on entertainment, such as attending concerts, sporting events, movies (44%)Shopping around more to save purchases (41%)Switching from name-brand to store-brand products (39%)Cancelling some or all subscriptions (31%)Beyond belt-tightening, Canadians are getting creative to help manage their finances as they head into 2026, such as couponing (30%), "no spend" challenges (30%) and thrifting (27%). One in four (25%) are even taking on a side hustle or part-time employment to help manage their expenses. The Money Map Gap: Smart Financial Priorities, But No Plan to Achieve Them As Canadians look ahead to the new year, their top financial priorities include saving and investing (47%), managing day-to-day expenses (46%), paying down debt (32%), supporting family or children (29%), and covering housing costs (26%). Despite these goals, only 36% of Canadians have a formal financial plan for 2026 – highlighting a notable divide between intention and action. "Intentions are a great first step but turning them into action is what truly makes the difference. One of the most empowering things Canadians can do is create a practical and achievable budg...

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