More than half of Canadians (54%) plan to do some back-to-school shopping this year, reports BMO.
The poll results show that overrunning a budget is common with students from all financial backgrounds.
Nearly half of post-secondary students in Canada worry they won't be able to cover this year’s tuition, and that their future job prospects are bleak.
When students head off to college or university, they have to pay more than tuition.
When granted lump sums, such as tax returns, most opt to pay off debts over saving for retirement.
Average household debt in Canada is $92,699, finds BMO poll, compared to the four-year average of $88,303.
Despite household debt in Canada remaining near record highs, two-thirds of Canadians are comfortable with the amount of debt they have, finds a CIBC poll.
Driven by vacations, social outings and entertaining at home, Canadians plan to spend an average of $5,605 during the summer - making it the most expensive season for 45% of people.
If forced to retire early, it would take just five years for 40% of middle-aged people to run out of money, finds a survey by Investors Group.
52% has adopted a more carefree attitude towards spending in the summer, finds a survey by Tangerine.