Increase in the cost of groceries, gas, housing prices: behind the inflation figures hide thousands of stories of Quebec families struggling to make ends meet and worried about the future.
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“Inflation worries me for the future of my children. My son has been raising money for more than three years with his girlfriend to buy a house and their accumulated amount is still not enough with the surge in house prices, despite the fact that they are super careful with their money,” lamented Sylvie Thibert, a single mother of two children who is living the concrete consequences of inflation, to QUB radio on Tuesday.
Cut out the little luxuries
She herself changed some of her lifestyle habits in order to save here and there.
“Costco has become my best friend,” she said, explaining that she cuts into certain “little luxuries” of her life such as a simple outing to a fast food service with her children.
“My luxury was to go to a restaurant, but now it costs $60 for four just to eat at McDonalds. The salary that I have left when I have paid for all the basic things like electricity and well, everything goes into the food, ”she told host Philippe-Vincent Foisy.
And she's not the only one making sacrifices.
“The biggest impact is felt in my second job. I give Zumba classes and in the last year I went from three classes to one class,” she said.
His second job, which used to supplement his income, has become essential to pay for his groceries.
The latest Manulife Financial Corporation survey shows that "nearly one in five Canadian homeowners believe they can no longer afford to pay for their home due to inflation and rising interest rates ".