Canadians Overspend Every Year and Always End up with a 'Holiday Shopping Hangover'

The holidays are a time to be joyful and merry. One way to be merry is to shop for stuff. And shop for stuff. And then shop for more stuff.

According to new research released by discount wireless carrier Mobilicity, 58% of Canadians say they spend more than they should during the holidays. And 59% find themselves making impulse purchases.

This overindulgence leads to feelings of guilt, remorse, and what Mobilicity dubs the "holiday shopping hangover."

The survey also found that one in five Canadians identify themselves as "binge shoppers," saying their holiday shopping is a whirlwind activity that packs a lot into a short period of time. 71% of bingers say they spend more than they should.

SEE ALSO: Half of Canadians Will Shop for Christmas on Their Smartphones

“We’ve all been guilty of spending too much or making impulsive purchases during the holidays only to regret it later, much like having one too many drinks," Angela Self, a personal finance expert, says. "While most hangovers can be cured with rest and hydration, the ‘holiday shopping hangover’ can only be cured and even prevented through smart planning and spending.”

Maybe we overspend because of how easy it is now: we can easily blow thousands of dollars just by fiddling around on e-commerce sites on our laptops and m-commerce on our smartphones, as evidenced here.

Vaughan, Ontario, Canada

We believe that Canadians deserve an alternative wireless experience that delivers better value, more freedom and most of all choice. Simply a better wireless experience No Term Contracts Unlike other providers that lock you into a term contract, Mobilicity has no term contracts or cancelation fees. We are so certain that you’ll love us and want to stay that we don’t have to force you – the... more

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Knowlton Thomas

Knowlton Thomas

Knowlton is the managing editor of Techvibes and author of Tempest Bound. Based in Vancouver, Knowlton has been published in national publications and has also appeared on television and radio. Previously he was an editor for New Westminster weekly The Other Press and served on its board of directors. When not working, Knowlton enjoys hiking, tennis, and martial arts. more

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