Shopping for the holidays can be mentally draining, and new numbers show many people are prepared to spend well above their means.
According to a survey by the Retail Council of Canada, the average shopper in Ontario will spend a little over $800 this holiday season, with a fifth of their holiday budget going to entertaining costs including food and alcohol, with the rest exclusively spent on gifts.
While the sales may be good, the discounts aren't necessarily translating into big savings for shoppers.
A recent report by Manulife suggests sixty per cent of people are willing to go into debt, just for the sake of putting gifts under their tree.
"You just feel that you're obligated to buy for Christmas, says one shopper, “and sometimes that's what it takes."
Experts warning that overspending can lead to a fiscal holiday hangover, leaving those extra-generous gift givers with the tough task of catching up on their credit card bills.
"You just try to work extra hard in January, February, March, April, May,” laughs another shopper “and on and on."
