It has entered the peak shopping season at the end of the year.
This Thursday is Black Friday.
Many people are already eager to buy some favorite products.
However, many things bought because of promotional offers
may not be very useful in the end,
so a new report shows that
60% of Canadians think that the average money spent
during this vacation period is “not worth it at all”.
This is a Canadian investment consumer mobile app Mylo
surveyed more than 3,000 Canadians.
The report also found that if holidays were cancelled,
nearly a third of Canadians said
they would use the money for savings and investment,
while another quarter would pay off debt.
But it is also quite ironic that
although many people think that spending money on shopping and tourism
is not worth it and agree that saving,
investing and paying off debts are important,
60% of them still say that
they will not take any measures
to “actively save money”.
Respondents from Winnipeg (68%), Saskatoon (68%),
and Montreal (67%) most felt that
spending money during this holiday was not worth it.
According to the survey, of the respondents
willing to spend more than $ 2,500 during the holidays,
Toronto ranked first (12%),
followed by Vancouver and Calgary (10% each).
Mylo’s report also lists some figures:
during the 2019 holiday season,
Canadians spent an average of $ 1,593.
Throughout 2018, the average net savings for
all Canadian households was $ 852.
National per capita debt reached $30,208 (excluding home loans)
in the second quarter of 2019,
including credit card debt of $4,236.
Nearly a third of Canadians said
were most afraid of receiving credit card bills in January.