A new poll says Canadians are heading into a leaner holiday season. In a nationwide survey of 1,820 adults conducted in November, 71–72% say they’ll trim Christmas spending, 62% don’t feel financially prepared, 53% feel anxious about affording the holidays, and 83–84% believe Christmas is more expensive than last year. Eighty-five percent plan to set a strict budget. 

The findings come from the Harris & Partners 2025 Holiday Spending Report, which points to households squeezed by rising living costs and limited wiggle room to save ahead of December. Half of respondents say they haven’t started saving for Christmas 2025; one-third say they won’t save at all.

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Harris & Partners CEO Joshua Harris says the data reflects a broader shift: “For a large number of people, there is simply less financial flexibility available… This year it will look different for many households.” 

Most respondents say they’ll avoid borrowing for the holidays (about 86%), which the report suggests may be a mix of deliberate caution and reduced access to credit—both of which point to lower spending and higher stress as December approaches.