The report Tuesday said the result is up from 51 per cent last year.
TD said younger Canadians in particular are looking to reduce their spending with 86 per cent of generation Z and 77 per cent of millennials planning to make cuts.
The result compared with 65 per cent of generation Xers and 43 per cent of boomers who say they are planning on reducing their spending.
"One of the most empowering things Canadians can do is create a practical and achievable budget with clear savings goals," Moghaizel said.
The survey said top budget sacrifices included eating out less often at 55 per cent and making fewer retail purchases at 53 per cent.
Forty-four per cent say they plan on spending less on entertainment, such as concerts, sporting events and movies.
The report comes amid uneasiness about the economy with the formal review of the free trade agreement between
On Monday, a report by insolvency firm
MNP said 71 per cent anticipate higher living costs heading into the new year, while 59 per cent anticipate a worsening economy and 52 per cent see job market weakness coming.
The TD report said Canadians are taking steps to help manage their finances including 30 per cent of those surveyed who said they were couponing and 27 per cent who are thrifting.
The report noted that even with tighter household budgets 63 per cent said their commitment to buying Canadian is stronger this year than last.
The TD report was basked on online survey was conducted by Harris Poll from
The polling industry's professional body, the
This report by
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