Here comes the sun, and the budget: CIBC poll finds Canadians opting for cost-conscious choices this summer

Here comes the sun, and the budget: CIBC poll finds Canadians opting for cost-conscious choices this summer

Nearly two thirds (65 per cent) of Canadians prioritizing saving over spending

TORONTO, June 26, 2026 /CNW/ - A new CIBC poll finds Canadians are taking a more budget-conscious approach to summer, with 65 per cent saying they're putting saving ahead of spending.

The poll shows that Canadians are determined to enjoy the season, but they're doing so with a sharper eye on their wallets - prioritizing savings, trimming travel plans, and making every dollar count, with nearly 8 in 10 (79 per cent) changing their spending habits due to rising everyday expenses.

Travel remains part of many Canadians' plans, but affordability is shaping how those plans come together. Four in 10 (39 per cent) plan to travel this summer, with most of those trips (69 per cent) remaining close to home or within Canada. At the same time, 32 per cent say rising costs are making them less likely to travel.

"Summer doesn't have to mean overspending. Canadians are proving that with thoughtful planning, it's possible to balance fun and financial responsibility," said Carissa Lucreziano, Vice-President, Financial Planning and Advice, CIBC. "What stands out in this year's findings is the combination of caution and resilience. Canadians are adapting, prioritizing what matters most to them, and looking for ways to enjoy the season without losing sight of their longer-term financial goals."

Other key findings from the CIBC poll:

• 69% feel financially prepared for the summer
• 66% prefer spending on experiences over physical items
• 62% say they won't let economic worries stop them from enjoying summer
• 46% say they plan to reduce day-to-day spending to lessen the impact of current economic conditions 

About the Poll:

The findings are from an Ipsos poll conducted between May 10th and May 15th, 2026, on behalf of CIBC. For this survey, a sample of 1,500 Canadians aged 18+ were interviewed online. Sample was sourced from the Ipsos panel. Weighting was employed to balance demographics to ensure that the sample's composition reflects that of the adult population according to Census data and to provide results intended to approximate the sample universe. The precision of Ipsos online polls is measured using a credibility interval. In this case, the poll is accurate to within ±3.1 percentage points, 19 times out of 20, had all Canadians been polled. The credibility interval will be wider among subsets of the population.

About CIBC
CIBC is a leading North American financial institution with 15 million personal banking, business, public sector and institutional clients. Across Personal and Business Banking, Commercial Banking, Wealth Management, and Capital Markets, CIBC offers a full range of advice, solutions and services through its leading digital banking network, and locations across Canada, in the United States and around the world. Ongoing news releases and more information about CIBC can be found at www.cibc.com/ca/media-centre.

SOURCE CIBC