Summer sun leads to increased spending among Ontarians

Perhaps because there are more things to do in the summer months, Ontarians say they tend to spend more money when the weather warms than when it cools, a new poll indicates.

TD Canada Trust says that 67 per cent of Ontarians believe warm weather influences their spending behaviour.

"Summer vacations can certainly take a toll on your wallet," said Raymond Chun, senior vice president for the banking firm. Chun went on to say Ontarians can do small things to gain control of their spending, such as revisiting their budgets and taking care of debts before making another payment.

Speaking of payments, in addition to spending more, a significant percentage of Ontarians - 51 per cent - say they have allowed some of their bills to go beyond their due dates.

This may lead to increases in credit card rates if they charged the purchases. To avoid this, the bank suggests setting up an automated payment plan, which authorizes lenders to take out the payment they're owed from the borrower's chequing account.