Most stayed on budget over holidays: Survey
(Craig Robertson/QMI Agency)
Most Canadian shoppers stayed on budget over the holidays, a new survey says.
The Royal Bank of Canada poll found 69% of Canadians kept their spending in check due to concerns about debt levels.
But almost one-third of Canadians spent more than they had planned to during the holidays by an average of $467. That's $38 more than 2010.
"It's encouraging to see that the majority of Canadians kept an eye on personal debt and took a more cautious approach to holiday purchases," Richard Goyder, vice-president of personal lending at RBC, said in a statement on Tuesday.
The poll found women went over budget more often than men.
Among those who overspent, most plan to cut back on entertainment, groceries, phone calls and ease up on credit card purchases to make up for it.
Nearly 4,500 Canadian participated in the online survey Jan. 9 to 16.
According to the poll's methodology, a survey with an unweighted probability sample of this size and a 100% response rate would have an estimated margin of error of 1.46 percentage points, 19 times out of 20,