The rising cost of living is expected to put a chill on holiday spending this year.
A new survey by insolvency firm Harris & Partners released Tuesday shows most respondents are preparing for a more modest Christmas.
Almost 72 percent of the 1,820 Canadians surveyed by the company in November said they will cut back on Christmas spending this year and 85 percent expect to set a strict budget for the holiday.
“For a large number of people, there is simply less financial flexibility available,” CEO Josh Harris said in a news release. “Christmas remains an important time for connection and celebration, but this year it will look different for many households.”…