Half of shoppers say they have no holiday spending budget

Half of shoppers say they have no holiday spending budget

B.C. consumers surveyed estimate they will spend $921 this season

A new poll hosted reports that 85 per cent of British Columbians surveyed feel it’s important to have a holiday spending budget, yet only 16 per cent say they will set an exact budget.

The poll – hosted on the Angus Reid Forum for Coast Capital Savings – surveyed 805 B.C. adults from Nov. 1 to 5.

On average, those surveyed expect they will spend $921 this holiday season, through a combination of gifts, parties and outings, charitable donations, gifts for themselves and holiday decorations.

This compares to an average of $954 last year.

While 16 per cent of respondents say they will set an exact budget this holiday season, 35 per cent say they will set a loose budget and likely spend more than planned, while 49 per cent will not set a spending budget at all.

“The temptation to spend beyond our means during the holiday season is something we can all relate to,” said Rachel Coyle, vice president of retail operations for Coast Capital Savings.

More than three-quarters (77 per cent) of respondents say they expect to pay off their holiday bills within the first month.

Almost half of respondents (49 per cent) feel holiday spending will put a bit of pressure on their household finances, with nine per cent feeling a lot of pressure.

Participants also highlighted a number of ways in which they will try and keep spending down, including placing a dollar limit on gift giving, making personalized gifts or crafts, limiting the number of purchases for themselves, and spending quality time with friends and family instead of exchanging gifts.

RELATED: On average, each Canadian spent more than $2,500 online in 2018



newsroom@abbynews.com

Like us on Facebook and follow us on Twitter

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

A health care worker prepares to test a Coastal GasLink field worker for COVID-19. (Coastal GasLink photo)
Coastal GasLink begins COVID screening of pipeline workers

Construction is once again ramping up following Northern Health approval of COVID management plan

File photo.
Vanderhoof Hospice Society is providing a peer support program for grieving adults

The program is being held in a partnership with Connexus Community Resources

Quilting event being organized in Vanderhoof. (Photo by Jeff Wade/ Unsplash)
Vanderhoof Department Store is hosting a quilting event

Mystery Block Exchange will start March 1

Provincial health officer Dr. Bonnie Henry updates B.C.’s COVID-19 situation at the B.C. legislature. (B.C. government)
B.C. reports 10 additional deaths, 395 new COVID-19 cases

The majority of new coronavirus infections were in the Fraser Health region

An official investigation will be launched after VPD officers were recorded posing near a dead body at Third Beach on Wednesday morning, Feb. 24. (Screen grab/Zachary Ratcliff)
VIDEO: Vancouver officers under review for allegedly laughing, taking pictures next to dead body

Two officers were caught on video by a local beachgoer Wednesday morning in Stanley Park

Provincial health officer Dr. Bonnie Henry updates B.C.’s COVID-19 situation at the B.C. legislature. (B.C. government)
‘Stay local’: Dr. Henry shoots down spring break travel for British Columbians

B.C. is reportedly working with other provincial governments to determine March break policies

“Our biggest challenge has been the amount of vaccine,” said FNHA acting chief medical officer Dr. Shannon McDonald. (First Nations Health Authority Facebook photo)
All First Nations on reserve to be vaccinated by end of March: First Nations Health Authority

Vaccinations continuing for B.C. First Nations amid shortages

(Delta Police Department photo)
B.C. youth calls 911 after accruing $7K in online gaming charges

‘Police spoke with the student about appropriate times to call 911’

Site C will go ahead, one year later and $5.3 billion more, the NDP announced Feb 26. (BC Hydro image)
B.C. NDP announces Site C will go ahead with new $16B budget

Reviews recommend more oversight, beefed up foundation stability work

The BC Prosecution Service announced last year that it was appointing lawyer Marilyn Sandford as a special prosecutor to review the case, following media inquiries about disclosure issues linked to a pathologist involved in the matter. (Black Press Media files)
Possible miscarriage of justice in B.C. woman’s conviction in toddler drowning: prosecutor

Tammy Bouvette was originally charged with second-degree murder but pleaded guilty in 2013 to the lesser charge

A kid in elementary school wearing a face mask amid the COVID-19 pandemic. (Metro Creative)
Union asks why an elementary school mask rule wouldn’t work in B.C. if it does elsewhere

B.C. education minister announced expansion of mask-wearing rules in middle, high school but not elementary students

A pharmacist prepares a COVID-19 vaccine at Village Green Retirement Campus in Federal Way on Jan. 26. (Olivia Sullivan/Sound Publishing)
Canada approves use of AstraZeneca’s COVID-19 vaccine

The country joins more than a dozen others in giving the shot the green light

Most Read