Holidays are meant for connection and celebration. For many Canadians, the season can bring a little extra pressure on wallets. In fact, our Holiday Spending Survey found that 78% of Canadians say inflation will impact their holiday spending this year, with over a third planning to spend less than in past seasons. But with some smart moves and some planning, you can stay on top of things and keep your finances merry and bright!
1. Start with a clear holiday budget
Many Canadians are taking this approach as costs rise. Our survey found that four-in-five Canadians plan to cut back on gifts this year, and nearly half are reducing what they spend on dining and entertainment.
Before you start shopping or planning events, take a few minutes to set your holiday spending limit. Look at what you can comfortably afford after covering your regular expenses like rent, groceries, and bills.
Once you have your total, break it down by category; gifts, food, entertainment, travel, and decorations. Setting limits for each area helps keep your spending balanced and intentional.
2. Prioritize what matters most
Even with inflation in the mix, Canadians are showing resilience. 81% feel confident managing their holiday budgets, and that confidence comes from knowing your priorities, and making sure your money supports them.
Not every holiday expense carries the same weight. Think about what truly makes the season special for you. Maybe it’s hosting family dinner, supporting local charities, or finding thoughtful gifts for loved ones.
When you focus on what matters most, it’s easier to cut back on extras that don’t add real joy. A meaningful holiday doesn’t have to mean spending more; it’s about spending wisely.
3. Track your spending as you go
It’s easy for small purchases to add up fast. Keep a simple record on your phone or a notepad to track what you’ve spent in each category. Many banking and budgeting apps can make this even easier.
Seeing your progress in real time helps you stay accountable and gives you the freedom to adjust before things get off track.
With 43% of Canadians worried about balancing holiday costs with everyday expenses, tracking as you go is one of the best ways to stay in control and reduce stress.
4. Plan for the unexpected
No matter how well you plan, surprises happen, whether an extra dinner invitation, travel cost, or a forgotten gift. Build a small “just in case” cushion into your budget to handle these moments without stress.
According to Money Mart’s 2025 Holiday Spending Survey, nearly three-in-ten Canadians say they wouldn’t feel confident managing an unexpected expense this season. The younger generations are feeling it the most—53% of Gen Z and 48% of Millennials are concerned about balancing holiday costs with everyday spending.
The good news? Planning ahead and giving yourself a little financial wiggle room can make all the difference.
If the unexpected becomes too much, you’re not alone. Many Canadians turn to trusted financial solutions to bridge short-term gaps and keep their plans on track.
5. Keep perspective
Remember: the holidays don’t have to be perfect to be memorable. What people value most is your presence, not the price tag. By staying mindful of your spending, you’ll start the new year feeling confident and not caught off guard.
Money Mart® is here to help
At Money Mart®, we know managing your money can be challenging; especially around the holidays if unexpected costs pop up. That’s why we offer flexible, transparent financial options designed to help Canadians stay in control.
Whether you’re planning ahead, or dealing with an unexpected expense, we’re here to help you navigate the season with confidence. Take a look at what financial solutions are available to you here!
