A fourth or 25 per cent of Canadians actually lowered their non-mortgage debts in 2013 by implementing frugal habits and watching their spending, according to a survey conducted by the digital discount company RetailMeNot.

Forty per cent of those polled in the survey reduced their expenses by cutting down on non-essential purchases, while another 44 per cent made sure that they did their shopping only when stores hold sales.  Gone are the days then Canadians automatically reached out for their credit card on a whim.  These days, they plan out their shopping activities and do market comparisons.  Dining out, entertainment, and luxury clothing are  out, while education and family-related items are in.

Those polled in the survey said they will put the unspent money in their bank account, while others admitted they needed to learn financial planning.

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