Canadians are cutting back on things they love, such as impulse shopping, eating out and entertainment, so they can afford to give gifts this holiday season.

Read: How much will parents spend this Christmas?

And while they plan to spend about $600 on gifts for family and friends, most are aiming to spend about $100 less than they did last year, finds a President’s Choice Financial survey.

Further, 85%  say the ideal holiday would be one spent with family.

Also read:

Have Canadians embraced online shopping?

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