Canadians plan on being more careful with their Christmas dollars this year.

A Bank of Montreal survey shows shoppers intend to spend an average of $1,517 — down from $1,810 last year.

That would be the lowest in three years.

Most of the holiday budget will go toward gifts ($441) and travel ($677).

The remainder’s for entertaining and other seasonal expenses, such as decorations.

BMO cites slower job growth, recent stock market volatility and higher household debt as reasons for possible reduced retail sales.

Meanwhile, another survey found 60% anticipate spending the same amount as last year, 21% plan to spend more while only 19% expect to spend less this Christmas.