About one in two British Columbians --  54 per cent -- say they plan to cut back on their spending in 2025, according to a new survey. 

The figure appears in a new report from TD Bank Group tracking spending choices as well as other financial matters. Six out of 10 who are planning to cut spending say they will eat out or order food less often, 47 per cent say they will shop around to save on purchases and 32 per cent say they are switching from name-brands to generic brands. 

Other strategies include spending less on entertainment (40 per cent), postponing or cancelling travel plans (22 per cent), and cancelling some or all subscription services (16 per cent). 

Notably, almost four out of 10 British Columbians (37 per cent) say they have already cut back as much as they can.

About one in four British Columbians (24 per cent) feel less positive about their finances in 2025 compared to 2024, with almost half (47 per cent) foreseeing inflation and the cost of living being their biggest financial challenge. 

Just over half of British Columbians (52 per cent) describe managing day-to-day expenses as their top financial priority in 2025, followed by saving and investing for the future (48 per cent) and paying down debt (25 per cent).