1 In 3 People Don’t Feel Like They Can Afford Summer!

Can Canadians afford to have a good summer in 2024?

According to a new report by BadCredit.org 1 in 3 don’t feel financially secure enough to enjoy summer festivities this year.

• Nearly 1 in 3 believe they have to spend money to have fun
• 30% say FOMO (fear of missing out) leads them to spend more money
• 36% feel pressure to overspend when out with friends, and 53% are more likely to make impulse purchases with friends

More than 1 in 4 (26%) expect to spend more money this summer than summer 2023 and 1 in 5 admit to feeling pressure to spend more based on what they see on social media. At the end of the day, 1 in 6 fear they’ll go into debt because of the cost of summer socialization.