BMO report says nearly a third of Canadians looking to minimize spending in 2025

TORONTO — A new poll suggests nearly a third of Canadians are planning to minimize their spending in the new year.

The report by BMO says 30 per cent of Canadians plan to curtail their spending in 2025.

The poll also says 46 per cent of Canadians say the higher cost of living will affect their financial new year’s resolutions.

The report by BMO looked at how worries about the economy were affecting how Canadians were approaching their financial planning ahead of the new year.

It says the leading sources of financial anxiety included concerns about the overall financial situation and fear of unknown expenses, which both came in at 82 per cent.

The BMO report was based on data from an online Ipsos panel from Sept. 2 to 14 including 3,404 people.

The poll cannot be assigned a margin of error because online surveys are not considered truly random samples.

This report by The Canadian Press was first published Dec. 17, 2024.

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The Canadian Press