More Canadians Staying At Home For Summer Vacation

A recent BMO Bank of Montreal survey has found that more Canadians are taking “staycations” as opposed to spending big bucks on extravagant vacations abroad.

“Staycation”, the act of staying at home for your vacation as opposed to traveling, was recently added the the Oxford English dictionary. It’s also gaining in popularity with Canadians, as 43 per cent of Canadians decided to stay close to home this year, spending money on movies, concerts or sporting events. Only 17 per cent of Canadians surveyed traveled abroad.

Depending on your backyard setup, a staycation can be the perfect way to enjoy the sumer without spending too much. However, BMO also recommends homeowners try to cut out unnecessary spending like dinners or lunches out as well as that daily venti caramel macchiato, putting the funds in an automatic savings plan instead to save up for that trip abroad.

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