13 Jul 2011

Survey: Ontarians spend more when the temperatures rise

When the weather warms in Ontario, the spending ramps up as well – at least that's what a recent poll suggests.

According to a survey conducted by TD Canada Trust, 67 percent of Ontarians say they spend more in the summer months, largely as a result of feeling happier.

Other findings from the survey found that nearly three out of every four of the province's residents aren't as regimented with their savings and spending goals in the summertime, with 51 percent saying they often have outstanding bills when the temperatures rise and 38 percent indicating they save less.

"Summer is a great time to relax and have fun with friends, but it doesn't mean you should take a vacation from your financial responsibilities," said Raymond Chun, senior vice president for the banking firm. Chun went on to say Ontarians can have the best of both worlds of buying more things but setting a limit as to how much will be spent.

With more things purchased, Ontarians will need a place to put their older belongings. A Toronto storage unit can serve as just the thing.

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