"Fully four-in-five say they have cut spending in recent months by either trimming their discretionary budget, delaying a major purchase, driving less, scaling back travel and charitable donations, or deferring saving for the future," the pollster said.
Compared to February 2022, when the same pollster revealed that 74% of Canadians had decided to cut their spending to deal with inflation, an increase of 6% has been observed.
According to the poll, 52% struggle with the sudden rise of expenses surpassing $1,000. Thirty-eight percent of Canadians would take $5,000 to alleviate their debt and 10% would spend the same amount on their daily expenses.
The survey shows amongst other things that 57% have reduced their discretionary spending, 42% have delayed major purchases and 41% opted for driving less, reducing their gas consumption.
Angus Reid carried out the poll on August 8-10 among a representative randomized sample of 2,279 Canadian adults who are members of Angus Reid Forum. The poll has a +/-2% error margin.