Holiday spending is expected to hit a three-year low according to the B-MO 2014 Holiday Outlook survey.
The average Canadian plans to spend around $1500 this year which is down from $1800 last year and trying to cut costs was the number one reason for the pull back on spending.
The report does show however that plans for holiday travel are pretty much unchanged with the average Canadian putting away about $700 dollars for trips over the holidays.
The report also showing most of holiday shopping will take place this month.
