Survey finds more Canadians are saving up for Christmas
Posted December 14, 2011 5:32 pm.
This article is more than 5 years old.
TORONTO, Ont. – TD Canada Trust says Canadians have built up something of a financial cushion going into the holiday season, thanks to a penchant for putting extra dollars aside.
A survey conducted by TD Bank suggests 53 per cent of Canadians have been setting aside at least 10 per cent of each pay cheque as the season began.
The survey suggests people are making sure they are living within their means and not overspending on non-essential items.
However, a Statistics Canada report published on Tuesday found that this is not the case during the rest of the year.
The report found that the average household debt in Canada hit a new record high of almost 153 per cent to disposable income in the third quarter.
