If you factored holiday spending into your client’s cash flow plan, you deserve a cup of holiday cheer. If you also discussed with your client a plan for impulsive behaviour, you deserve a visit from St. Nick himself.

That’s because more than half of Canadians (51%) expect to go over budget this holiday season, reveals a poll by CIBC. And one in four Canadians (26%) who set a holiday budget say they’re not concerned about sticking to it, reveals a Scotiabank poll.

The likelihood to overspend over the holidays is true for all Canadians regardless of age or income. In fact, more than half (52%) with higher incomes break their budget, says David Nicholson, vice-president of CIBC Imperial Service, in a release.

Read: Buyer’s remorse and identity theft make for less-than-happy holidays

Gifts are the biggest expense for 77%, according to the Scotiabank poll — no surprise there.

“But there are […] other factors to consider when setting a holiday budget, including time off work, entertaining friends and family, holiday decor and even travel,” says Mike Henry, executive vice-president of retail payments, deposits and unsecured lending at Scotiabank.

While 57% of Canadians pay credit card balances in full each month and 13% don’t use a credit card, 29% carry debt forward, reveals the CIBC poll. And millennials are more apt to buy on credit than those aged 35 or older (60% vs. 52%).

Read: Consumer debt and delinquency rates climb in Q3: Equifax

The one saving grace? Overall, CIBC finds Canadians say they plan to spend less on holiday shopping this year, on average, than in 2015.

2016 2015
All Canadians $597 $652
British Columbia $529 $557
Alberta $688 $649
Manitoba/Saskatchewan $647 $709
Ontario $670 $759
Quebec $406 $450
Atlantic Canada $803 $867

Also read: What to do after maxing out RRSP and TFSA