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This article is part of a Global News series titled ‘On the Brink,’ which highlights individuals facing challenges due to the rising cost of living. Here, we explore the journey of a woman utilizing couponing to alleviate her family’s financial burdens.
As economic fluctuations lead to unpredictable grocery costs, many Canadians find their purchasing power dwindling.
According to government statistics, Canada engages in substantial trade with the U.S., moving $72.6 billion worth of agricultural and food products annually.
In light of ongoing trade tensions, experts like Matt Poirier, vice-president of federal government relations for the Retail Council of Canada, suggest that Canadians’ access to affordable food options may diminish further.
Consequently, more families are exploring various strategies to save and manage their budgets effectively.
Meet Kathleen Cassidy, the creative force behind Living on a Loonie, an Instagram account dedicated to uncovering deals and facilitating savings.
Based in Toronto, Cassidy comments that the increasing costs of food have shifted public perceptions regarding couponing, with greater willingness to invest time and effort into saving strategies.
“People are beginning to see the value in spending more time on couponing, whereas previously there was a notion that it was too time-consuming and unworthwhile,” she notes.
After starting her account during her university years in 2020, Cassidy’s following surged as the realities of the COVID-19 pandemic set in.
Five years later, she boasts over 217,000 followers and has observed fluctuations in interest correlating with inflationary trends, including current trade challenges.
With anticipated tariffs expected to influence prices in various markets, Cassidy provides practical advice for those looking to save.
“Start with small goals. I always encourage focusing on one saving method, mastering it, and then branching out from there,” she suggests.
Cassidy identifies brand loyalty as a significant hurdle in achieving savings, urging shoppers to consider alternatives when utilizing coupons.
Coupons often include products from brands consumers have not previously tried, presenting new opportunities for savings.
“It’s important to embrace trying new products to secure better deals and understand sales trends to maximize savings,” she emphasizes.
Cassidy also advocates for budgeting and monitoring one’s spending habits.
“Investing just 15 to 20 minutes a day on an Excel spreadsheet can provide clarity on your expenditures and reveal areas where adjustments can be made, especially as the cost of essentials continues to rise,” she explains.
For newcomers to budgeting, she suggests starting with fundamental practices, such as meal planning and reviewing grocery flyers before shopping.
“Food waste can be a significant financial drain. When fresh produce goes bad, you’re essentially discarding your hard-earned money,” Cassidy remarks.
Through couponing, Cassidy has found ways to support her community while also aiding her family financially.
“It has played a crucial role in our finances, enabling me to secure everyday necessities and find great discounts on food,” she shares.
“This positively impacts our financial situation, allowing us to save for enjoyable activities or allocate resources where they are most needed, particularly during challenging times.”
The next edition of Global News’ revitalized On the Brink series will be published next Saturday.
— with contributions from Global News
If you have a personal story regarding the cost of living that you wish to share, please reach out to us below.
Source
globalnews.ca