As the holiday season approaches, many young Canadians are planning to lean on credit to cover the cost of gifts.

A new survey from Chartered Professional Accountants (CPA) Canada reveals that 58 per cent of those aged 18 to 34 expect to use credit cards, or other forms of borrowing to fund their holiday shopping.

By contrast, older Canadians are taking a different approach. The survey found that about 70 per cent of those aged 55 and up plan to pay with their own money.

Overall, two-thirds of Canadians say they will rely on personal funds rather than credit this holiday season.

David-Alexandre Brassard, Chief Economist at CPA Canada, says the numbers reflect the financial pressures younger Canadians are facing.

“Unemployment is near recession levels,” he explained. “Younger Canadians

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