You tend to pay your bill and brush your teeth regardless of your debt levels and the state of the economy. But some spending is more optional, such as on new cars, travel abroad, recreation and restaurant meals. It is in these categories where we are seeing some shifts in spending habits. Let me start with cars.
When Canadians have the money or can borrow it, a new car is often a priority. From the Great Recession until last year, more people were buying new vehicles each year. In 2017, the pace of 3/6  BIS central bankers' speeches  new car buying hit its highest share of consumption in 14 years.