Despite the rapid slowdown of the global economy and a persistent financial crisis, almost half of average Canadians haven't changed their spending habits.
A poll conducted by Harris/Decima for Scotiabank found that 45% of Canadians are spending the same as they were six months ago. Only 19% said they were spending less, and 36% said they were spending more.
Spending habits for many Canadians haven't changed because most have not seen a change in their lifestyle, and they still have the same basic needs and expenses.
Of the 19% that said they were spending less, 27% said they were already on a budget and were deciding to spend more carefully or choose cheaper spending alternatives.
The survey coincided with the launch of a new cash-back Visa card replacing their older cash-back Visa program. According to the survey, almost a quarter of Canadians use their credit cards for day-to-day purchases, primarily at gas stations, groceries or drug stores.