Canadian Parents Set to Spend $2,300 To Keep Kids Busy This Summer-BMO Report
- Report reveals parents' spending for entertainment and movies, eating out and impulsive purchases on children - Study also shows differences in spending and savings habits among Canadians with and without kids
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 07/12/13 -- According to a BMO Bank of Montreal survey released today, parents expect to spend an additional $2,300 on average to keep their kids occupied over the summer months. The report is the third in a summer series showing the spending habits of Canadians and how they plan to make the most of their finances.
The additional spending includes a weekly average of $54 on entertainment - such as movies, sporting events, local festivals - $58 on eating out and $65 on impulsive purchases. In fact, nearly half (46 per cent) of parents said they are more likely to spend money on entertainment for their children in the summer compared to other times of the year.
Overall, Canadians expect to spend an average of $3,978 on non-essential expenses.
"It is easy to lose track of your spending in the summer due to many competing interests for your dollars, so it is an important time to keep track of your spending, especially incidental, unplanned expenditures, no matter how small," said Janet Peddigrew, Vice President, BMO Bank of Montreal. "Tracking your spending can help you keep your larger financial plan in mind."
Other key findings include:
The Economics of Households With and Without Kids
When comparing the spending and savings habits between Canadians with and without children, the survey found that:
"There are many ways to stretch your dollars this summer, and it's great to see that Canadian parents are finding ways to save money and maximize their dollar," added Ms. Peddigrew. "Summer is a great time to redeem rewards points for entertainment, merchandise, passes to parks and attractions, as well as for gas and travel."
To help Canadians get the 'BMOst' out of this summer, BMO is offering up to $200 in cash for those who open a chequing and savings account, and 500 bonus AIR MILES reward miles for those who sign up for a .
The survey results cited in the BMO Summer Spending Report are from online interviews with a random sample of 1,513 Canadians 18 years of age and over, conducted by Pollara between May 23 and May 27, 2013. A probability sample of this size would yield results accurate to +/- 2.5 per cent, 19 times out of 20.
About BMO Financial Group
Established in 1817 as Bank of Montreal, BMO Financial Group is a highly diversified North American financial services organization. With total assets of $555 billion as at April 30, 2013, and more than 46,000 employees, BMO Financial Group provides a broad range of personal and commercial banking, wealth management and investment banking products and solutions.
Contacts:
Media Contacts:
Jessica Park, Toronto
(416) 867-3996
Valerie Doucet, Montreal
(514) 877-8224
Laurie Grant, Vancouver
(604) 665-7596
Internet:
Twitter: (at)BMOmedia
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Datum: 12.07.2013 - 13:51 Uhr
Sprache: Deutsch
News-ID 277902
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contact information:
Town:
TORONTO, ONTARIO
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Commercial & Investment Banking
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