A survey from the personal finance comparison website Finder.com indicates that almost half of Canadians would prefer to receive cash over gifts this year, to help them pay for essentials, build up an emergency fund or pad their savings account. Senior finance editor for Finder, Romana King, says, “While many of us looked for ways to stretch a dollar, others found it impossible to trim the budget. It’s no surprise, then, that cash tops the list for more requested gift this holiday season.”

According to the survey, 20 per cent plan to pay for all their holiday spending using their savings. The largest segment of respondents at 35 per cent, said they will take on various forms of debt to pay for their holiday expenses, ranging from adding to the credit card balance, the buy-now-pay-later payment plans, or borrowing money.
You can link to the report by clicking here.