According to a survey performed by Narrative Research and the Logit Group, Canadians are concerned about the current problems affecting the economy and the cost of living.
92% of the more than 1,200 Canadians polled, according to Margaret Chapman, COO of Narrative Research, “told us that they were concerned about it.”
Survey respondents were concerned over the spike in costs for gas, groceries and housing and it is changing their spending habits, said Chapman.
The findings come from a survey of 1,230 Canadians who were 18 years of age or older that was performed online between September 6 and September 9.
About half of the population informed us that they were cutting back on purchases or doing without, she said.
She said that three-quarters of Canadians are also worried about supply chain issues; “1/4 of people told us that they are actually buying second hand or trading with others,” said Chapman.
Ruth Ann Swansburg is known as the Moncton Coupon Lady.
She advised consumers to download flyer applications directly to their phones in order to better track potential savings in order to reduce their food spending.
It makes shopping quicker and easier since when you key in eggs to discover the cheapest price, it displays the flyers that feature eggs that week.
She claimed that cash back apps would also let you accrue cash credits for the products you purchase and add to your cart.
Every year, she said, “I cash mine out in November so that I have some cash in December to put toward Christmas spending.”
Before going shopping, make a plan for the upcoming week’s meals to prevent overspending or impulsive purchases, the expert advised.
Due to significant lifestyle changes over the past five years, Janet Steeves, a native of Calgary, has advanced her savings techniques.
She and her partner downsized and bought a 450-square-foot condo, which they occasionally rent out.
She explained that she and her partner stayed in their RV while attempting to take advantage of free camping options, saying, “One of our largest sources of revenue last summer was that we rented our condo out.
“We just parked in front of churches or schools of baseball fields,” she said.
She added that she rented out her automobile for the summer and that she and her companion ate at home more frequently than they did out. She claimed that in order to save money on self-care services like massages and hair treatment, she also visits the neighbourhood college.
According to a poll, more than 90% of Canadians are concerned about rising inflation.
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