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According to the Retail Council of Canada, for Holiday 2007, 94% of Canadians plan to give gifts to others, spending an average of $733. Furthermore, we’ll spend an additional $714 on travel, decorations, eating out etc. And a word to the wise: according to Moneris (the people who produce the machines we all swipe our cards on) this Friday (Dec. 21) between 2-3 pm is going to be the height of shopping.

HarrodsDecember is a critical month for retailers in Canada.

That got me thinking.

Question Mark

If we canceled Christmas, Grinchwould we tank the Canadian economy?

(ps: for a fun post on how to christmas-buy, Canajan Finances provides ideas!)

About the Author


Imagine if Canadians were known for being all over their money. Engaged. Proactive. Getting out of debt. Savvy. Saving. Generous. Nancy wants to help. Nancy started her own journey with money over 15 years ago, and formed her company “Your Money by Design” in 2004 to help others along the same path. It’s not the usual financial advising/investment stuff. It’s about taking control of day-to-day finances –managing monthly cashflow effectively, spending appropriately, getting out of debt, saving. If you're ready to take control over your finances, pop by her business site, YourMoneybyDesign.com

Econ 101: would the economy tank without Christmas? Comment

  1. well, we’re not going to cancel christmas any decade soon i guess. but here is an interesting youtube video about a similar topic – our fear of rocking the economic boat, and the ultimate consequences of that: http://www.youtube.com/watch?v=HK8RwcSDbI0

    [Reply]

    Dec 26, 2007

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