The holidays are traditionally the season of spending, but a new poll by RetailMeNot suggests that Canadians are actually spending the most during the back-to-school season.
The poll found 53% of Canadian parents agree that back-to-school shopping puts a financial strain on their family’s finances and 39% take months to pay off their back-to-school bills.
Most surprisingly, the poll found that Canadians plan on spending as much as $883 on back-to-school supplies. According to RetailMeNot, that’s $325 more than what Canadians spent on holidays last year.
The survey determined that one of the major factors driving up parents’ expenses are increasingly demanding wish lists from kids. Personal gadgets for kids are driving up the cost of outfitting student for the new school year.
62% of parents said they care more about getting their child what they need than about saving money.