Steep dinner prices and $25 cocktails have pushed Canadians to spend more evenings at home, according to new data from tech company Square. In Canada’s largest cities, nighttime transactions — from 7 p.m. to 4 a.m. — at bars, cafes, and restaurants declined overall in the second quarter this year compared to the last two years. It’s not that Canadians have suddenly lost their cool (right?!); they’re just trying to save money. But the reality of what’s going on is a little more complex. Ara Kharazian, Square’s research and data lead, told Peak Money that Canadians are still spending on nightlife, but are saving more by going out less. Instead of hitting up after-work drinks several nights a week, many are saving for one-time weekend outings, according to Kharazian. If you’re looking to limit your nights out to save money, be sure to still set a budget (and stick to it) to avoid overspending on a single lavish dinner.
