The holidays are fast approaching, but 69% of Canadians haven’t yet finished shopping, finds a new CIBC poll. In fact, when there was only 10 days left to go, 15% hadn’t even started.

That means it may not be to late to share spending and saving tips with clients. This is key because people’s risk of overspending is higher when they shop at the last minute, says Steve Webster, vice-president of Retail and Business Banking at CIBC.

Read: Offer to help overspending clients

Here’s a breakdown of the poll findings:

  • Millennials (or Canadians aged 18-34) are the biggest procrastinators, with 75% saying they haven’t finished shopping
  • When it comes to those who haven’t started, 18% are men and 11% are women
  • Those who haven’t finished shopping are more likely to overspend, with 20% saying they expect to go over their budget, and 24% say they didn’t even set a budget
  • So far this holiday season, Canadians have spent an average of $601 on their shopping—an earlier CIBC poll said Canadians planned to spend an average of $652
  • Spending varies drastically across the regions, with British Columbians having already spent $871 as of December 15, compared to Quebec where people had only spent $383
  • Beyond giving gifts, throwing parties derails Canadians’ shopping budgets—for instance, 40% say buying food and alcohol to entertain family and friends can push them over their shopping limits

The poll suggests that shoppers track their spending and put together post-holiday repayment plans to make sure they stick to their budgets.

To help clients stay on track, read and share the following articles:

These holiday travel tips will help clients save money

Golombek’s 5 year-end tax tips

Most Canadians don’t have a budget

Holiday retail sales to grow 4%

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