(Pxhere)

(Pxhere)

As Canadians break records with holiday shopping, 25% admit to overspending: RBC poll

British Columbians turned out to be the most thrifty of holiday shoppers

Whether it was being separated from family and friends or the general ennui of spending a holiday season during a pandemic, Canadians racked up some hefty bills this holiday season.

According to a poll conducted by RBC, Canadians spent more money holiday shopping this year than they did any year in the past decade.

The poll found that the average Canadian spent $735 this holiday season, up from $709 in 2019.

Pollsters found that another record set was how many shoppers went over budget, with 25 per cent spending an average of $588 more than they planned. The $588 figure represents a 28 per cent increase from the average amount shoppers overspent last year.

The biggest holiday spending categories were gift cards at $121, electronics at $104 and giving experiences to their families and friends at $91.

However, British Columbians turned out to be the most thrifty of holiday shoppers; only 18 per cent of them overspent, while the biggest over-spenders were in Ontario at 27 per cent.

Pollsters found that 67 per cent of those who spent more than they expected to have yet to pay off those holiday bills. Only about 25 per cent have immediate plans to cut back on expenses such as entertainment and daily living expenses, while 18 per cent plan to carry credit card debt for at least two months.

And while 20 per cent of people surveyed said they planned to set aside savings for the next holiday season, half said they “have no idea” how much they might be able to save.

“We know Canadians have the best of intentions about saving and that it can be difficult to set a budget and stick to it. In these uncertain times, we’re also seeing that, while some are able to save more than they thought because they are spending less, others are struggling to make ends meet as a result of the pandemic,” said Niranjan Vivekanandan, vice-president of term investments and savings at RBC.

READ MORE: Canadians said they’d drop average holiday shopping to $200 each as pandemic takes hit on budget


@katslepian

katya.slepian@bpdigital.ca

Like us on Facebook and follow us on Twitter.

Want to support local journalism during the pandemic? Make a donation here.

CoronavirusHolidaysShopping and Classifieds

Just Posted

A siren bank near Stotan Falls. Photo supplied
BC Hydro to test sirens along Puntledge River in Courtenay this week

Public safety is very important to BC Hydro, and it’s one of… Continue reading

NIC’s new president Lisa Domae assumed the role of president on April 12. Domae has worked at NIC since 2000, most recently as the executive vice president, academic and chief operating officer. (SUBMITTED PHOTO)
New North Island College president launches draft strategic plan

Lisa Domae assumed the role of president on April 12, 2021

Capt. Jenn Casey died in a crash just outside of Kamloops, B.C., on May 17, 2020. (CF Snowbirds)
Snowbirds to honour Capt. Casey, who died in B.C. crash, in 2021 tour

Tour will kick off in Ontario in June before heading west

Artist's drawing of the proposed 52-unit affordable seniors housing project in Comox. File photo
Comox Valley Affordable Housing Society receives federal grant money

The Comox Valley Affordable Housing Society (CVAHS) has received $25,000 in grant… Continue reading

Mark Henderson’s exhibit, “Bikes and Barbies,” is now showing at Artful : The Gallery on Cumberland Road in Courtenay. Photo supplied.
New exhibit at Courtenay art gallery

Artful : The Gallery is showing art by Mark Henderson until Saturday,… Continue reading

An avalanche near Highway 1 in Glacier National Park. Avalanche Canada will benefit from a $10 million grant from the B.C. government. (Photo by Parks Canada)
Avalanche Canada receives $10-million grant from B.C. government

Long sought-after funds to bolster organization’s important work

Cannabis bought in British Columbia (Ashley Wadhwani/Black Press Media)
Is it time to start thinking about greener ways to package cannabis?

Packaging suppliers are still figuring eco-friendly and affordable packaging options that fit the mandates of Cannabis Regulations

The following is a list of restaurants offering take-out and patio dining. ADOBE STOCK IMAGE
List of Comox Valley restaurants offering take-out, patio dining options

Restaurants in the Comox Valley continue to adapt to government-imposed restrictions in… Continue reading

The only access to 5th Street bridge heading east (toward Lewis Park) is via Anderton Avenue. Photo by Terry Farrell.
Single lane alternating traffic controls on Courtenay bridge now in effect

Single lane alternating traffic on the 5th Street Bridge is now in… Continue reading

Relief is coming for B.C.’s struggling tourism sector. (NEWS file photo)
B.C. officials set to announce more support for tourism sector hit hard by pandemic

Non-essential travel is restricted between three regional zones in B.C. until at least May 24

This image released by Universal Pictures shows Nathalie Emmanuel, left, and Vin Diesel in a scene from "F9." (Giles Keyte/Universal Pictures via AP)
The blockbuster movie is making a comeback this summer

Excitement in the industry is growing again for a return to a big-screen normal

More “strings of lights” were seen on May 15, 2021, in night sky over Vancouver Island. (File photo)
Sicamous RCMP Sgt. Murray McNeil and Cpl. Wade Fisher present seven-year-old Cody Krabbendam of Ranchero with an award for bravery on July 22, 2020. (Contributed)
7-year old Shuswap boy receives medal of bravery for rescuing child at beach

Last summer Cody Krabbendam jumped into the lake to save another boy from drowning

B.C. Health Minister Adrian Dix and provincial health officer Dr. Bonnie Henry update the province’s COVID-19 vaccine program, May 10, 2021. (B.C. government)
B.C.’s COVID-19 infection rate stays below 500 a day over weekend

14 more deaths, down to 350 in hospital as of Monday

Most Read