TORONTO—A new poll from CIBC says nearly half of Canadians will need to dip into their savings or take on debt in the coming months as they look to make the most of the warm summer weather.
Of those surveyed, 40 percent said summer is the most expensive season, while 36 percent said they spend the most in winter. Another 17 percent singled out spring as the costliest season, while only six percent said their household spending spikes in autumn.
The poll found the average amount that Canadians plan to spend on summer fun—which includes everything from travel and recreational activities to goods such as sporting equipment and barbecues—is $1,766.
Households in Atlantic Canada say they plan to spend the most on average—$2,694—while Quebec households were the most frugal, planning to spend an average of only $1,288.
