Canadians plan to spend nearly $4,000 on non-essential expenses this summer: Study

Shelter Valley Folk Festival at the Henkel Family Lavender Farm in Northumberland County, during...

Shelter Valley Folk Festival at the Henkel Family Lavender Farm in Northumberland County, during Labour Day Weekend festival September 1, 2012. (PETE FISHER/QMI AGENCY FILE PHOTO)

QMI Agency

, Last Updated: 2:31 PM ET

Canadians say they plan on spending an average of $3,978 on non-essential expenses this summer, a survey says.

Dining out, socializing, attending movies, sporting and other summer events are all on the menu but so is impulse spending, which will account for another $123 per week on average, or $1,599 over the course of the summer.

Increased spending aside, the BMO Summer Travel Survey says 79% of us will look for ways to save and maximize the value of our dollar over the summer months.

“During the summer, social calendars begin to fill up with day-to-day plans, weekend trips and vacations, which over the course of the season can add up significantly from a financial standpoint,” said BMO Bank of Montreal's Su McVey. “That said, the numbers show that Canadians are looking for ways to make the most of their summer spending."

She says we're doing this by socializing at home, attending free local events and taking a “staycation."


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