A recent poll by CIBC found Canadians expect their top spends this summer to be on gas and groceries, food and dining, along with travel.
It's a pattern that seems to come around every year as Canadians emerge from the cold winter, having spent months craving the chance to enjoy a drink on the patio or plan that cottage getaway.
"In the summer, I would make plans with my friends and catch up with them and it can quickly add up, but I feel like the cost of just a bite or a drink is more than it used to be." "Summertime is the season when Canadians typically spend the most of their money. We have tough winters in Canada, so it makes us want to go out and enjoy ourselves," sid Lucreziano.
Consumers should also evaluate monthly spending patterns and pull back on automatic expense withdrawals for things such as unused gym membership subscriptions. She added that taking stock of the rewards program associated with your credit card to ensure it aligns with your goals and needs is also key.
He said it's much easier to trim the "nice-to-have" bills than "need-to-haves" by looking for alternatives. That may mean commuting to a gathering by subway rather than jumping in an Uber.
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