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TORONTO, ONTARIO--(Marketwire - May 18, 2012) - With Victoria Day weekend plans kicking into full gear, many cost-conscious Canadians will likely be considering a budget-friendly long weekend with options such as visiting cottage country, going camping or opting for a "staycation" at home.

In fact, last year a BMO survey showed 57 per cent of Canadians planned to take staycations, or vacations within Canada, a trend that will likely be repeated this summer.

With cutting back on discretionary spending an ongoing priority for many Canadian households, BMO offers the following spending-savvy tips to help ensure a memorable Victoria Day:

Establish a budget: Setting and sticking to a budget is an easy way to keep costs to a minimum this weekend.

Public Transit: Check your local transit website for holiday hours, so you and your family can take advantage of all your city has to offer without costly parking fees.

Enjoy local attractions: Do research on weekend carnivals, fairs and events that are appealing to you, as many of them offer Victoria Day Weekend discount fares.

Get a tune up: Before hitting the road, visit your local mechanic for any parts in need of replacement; as clean air filter can improve your gas mileage by as much as 10 per cent.

Take in the fireworks: Fireworks shows are a fun and free way to spend time with your family. Check your local media for show times and locations.

Track down local eats: If travelling, avoid tourist hot-spot restaurants that are usually at price peaks during long weekends and opt for more local dining.

Cheap Thrills: A trip to the movies can often be pricey, after tickets, food and gas. Instead, rent a movie to watch at home or go online to check out cheaper matinee viewings.

Take advantage of loyalty rewards programs: There are many merchandise rewards that can be redeemed using BMO ELITE® Rewards points or AIR MILES®† reward miles, including a variety of outdoor living and camping gear. Or, opt for a cash back rewards card and put a portion of what you spend back in your wallet.

For more information on budgeting and to learn about BMO MoneyLogic, please visit: www.bmo.com/moneylogic.

About BMO Financial Group

Established in 1817 as Bank of Montreal, BMO Financial Group is a highly-diversified North American financial services organization. With total assets of $538 billion as at January 31, 2012, and more than 47,000 employees, BMO Financial Group provides a broad range of retail banking, wealth management and investment banking products and solutions.