As another festive season arrives, new Christmas spending statistics from Harris & Partners’ 2025 Christmas Spending Report reveal that Canadians are entering Christmas with caution rather than cheer.
Based on a nationwide survey of 1,820 respondents, the report finds:
- 61 % don’t feel financially prepared for Christmas 2025
- 72 % plan to cut back on spending compared with last year
- 54 % feel anxious about affording the holidays
- 83 % will set a strict budget
- Only 14 % expect to borrow or use credit
“We’re seeing a permanent shift in how Canadians manage Christmas,” says Joshua Harris, Licensed Insolvency Trustee. “Financial planning now defines the season.”
A growing culture of restraint
The findings show that budgeting and debt avoidance have become mainstream behaviours. Rising living costs and higher interest rates are driving families to scale back on gifts, simplify celebrations, and prioritise experiences over excess.
While the majority feel pressure, fewer people are turning to credit cards—evidence that Canadians are learning from past holiday debt cycles.
Why it matters
These holiday spending statistics highlight a long-term change in financial behaviour that could extend beyond December. Careful budgeting and debt avoidance are becoming the norm, signalling a more financially resilient public.
About the report
The Harris & Partners 2025 Holiday Spending Report explores how Canadians are saving, budgeting and coping with the rising cost of Christmas. Survey conducted October 2025. Data anonymised and aggregated.
For full data tables, infographics, and expert commentary, download the report: Harris & Partners 2025 Holiday Spending Report
About Harris & Partners
Harris & Partners Inc. is a Licensed Insolvency Trustee firm helping Canadians regain financial stability through consumer proposals, bankruptcy administration, and debt management advice.
If financial pressure from the holidays is making it difficult to manage debt, Harris & Partners can help you explore practical solutions. Learn more about how a consumer proposal can reduce your monthly payments, or understand the steps involved in bankruptcy and how it may provide a fresh start. Our Licensed Insolvency Trustees support clients across Canada, including those in Ontario, Alberta, and at our Toronto office
