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Holiday Spending Pressure Parents Turn to Grandparents for Support continues to grow across Canada as families face another expensive festive season. A new Interac survey shows that rising costs are forcing many parents to seek help from grandparents and rethink their holiday budgets.
Parents struggle with rising holiday expenses
Canadian parents report intense financial strain this year. About 66% say higher prices make holiday spending difficult, and 52% worry about overspending. Many families now adjust their expectations and look for support wherever possible.
At the same time, 21% of parents say they rely on grandparents for help, while 33% believe grandparents spend more on gifts than parents do. This shift highlights how older generations now shoulder a growing share of holiday expenses.
Parents cut spending but still feel pressure
Chris Lee, Interac’s head of payments, says families approach the season with “a heightened sense of caution.” This mindset shows up in the numbers: 45% of parents plan to spend less than $500 on gifts, while 25% expect to spend between $500 and $1,000.
Only 28% plan to spend more than $1,000, which marks a significant pullback from previous years.
Older kids increase the pressure
Holiday expectations grow as children age. Parents of teens (13–17) report more stress than parents of young children. Families with toddlers under two feel the least pressure, likely due to simpler gift needs. “Stay connected to every major update — subscribe and follow us on the PhoenixQ website and across our social media platforms.”
Despite efforts to manage costs, many parents still feel regret after the holidays. Nearly 74% experienced financial strain after overspending in previous years, and 56% felt stressed or remorseful when reviewing January bills.
Grandparents step in as holiday budgets tighten
As prices rise and expectations grow, grandparents play a larger role in supporting holiday traditions. The Holiday Spending Pressure Parents Turn to Grandparents for Support trend highlights how multigenerational cooperation now helps families keep celebrations meaningful without overwhelming budgets.
