Debts are likely to be carried over by younger adults (46% of 18-34-year-olds said this) while just 19% of over 55s expect to do this. Younger people are also more likely to regret their purchases (38% vs. 13% of over 55s). Recent Equifax research found that 37% of business owners expressed having less confidence about the 2023 holiday season than they did last year, while only 15% expressed having more confidence. A new report from KPMG in Canada tells a similar story with 83% of consumers saying they are more cautious about what they are spending money on this year compared to last year, given high inflation, interest rates and mortgage costs. Cutting back spending on discretionary items
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