Canadians 13 times more likely to spend less than more this holiday season

However, 68% have set financial goals for themselves, including retirement planning (59%), saving for a vacation (46%), paying down debt (39%) and saving for a large purchase such as a car, large appliance, etc. (36%).

“While many Canadians are looking forward to celebrating with family and loved ones, it is important not to get financially carried away during the holidays,” Gayle Ramsay, Head, Everyday Banking, Segment & Customer Growth, BMO. “As many look forward to a fresh start in the new year, we want to empower Canadians to make real financial progress by encouraging them to get a head start on defining their financial goals, take advantage of online banking tools to conveniently set and monitor budgets, and work with a financial advisor to help build a plan and establish good financial habits.”

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