A consumer survey suggests Canadians plan to spend thousands on summer fun this year, and British Columbians have some of the deepest pockets in the country.
Chris Menard with BMO Financial, which conducted the survey, says on average people are budgeting $5,600 for summer travel and entertainment.
“In Atlantic Canada, people expect to spend about $4,900 a year. Over to B.C. where we are, it’s about $6,150. And the highest province in the country, though, was Alberta where people expect to spend just shy of $6,300 a year.”
Menard also says while it’s tempting to “play now and pay later,” you really should plan ahead so you can pay off anything you might charge on your credit card.
“Making sure that if you put some of these expenses on your credit card, making sure that you are paying that off monthly, and look at a credit card that gives you cash rewards so even if you are paying it off monthly you are still earning back case rewards through all this spending that you are doing.”