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Cost of Living: Vacationers Facing Reality

Cost of Living: Vacationers Facing Reality

The vast majority of Quebecers have returned to work after the holidays; Back to the reality that hurts the wallet for some.

Two years into the pandemic, many felt the need to travel, no matter the cost. According to data compiled by Statistics Canada, Canadian household spending remains high, despite inflation concerns.

“It will definitely be very difficult, because people have gone two years without going out. Today, they don’t look at their expenses, but reality will strike,” said a woman from TVA Nouvelles.

Another survey, this time by Canadian Public Accountants (CPA), found that 68% of Canadians say they are “concerned” about the level of debt, while 60% don’t think they can bail themselves out of debt. age 65.

There are questions to ask about home prices and the debt that comes with it. You don’t want to transfer your debts to your children, you want to transfer a paid home to your children. “Retirement with a paid home may be the new reality,” said David Alexander Brassard, chief economist at CPA Canada.

Encouraging signs are felt. In the US, inflation exceeded 8.5% for the month of July, a situation that could be similar in Canada. Experts predict an economic slowdown, but the decline will be costly for many Quebecers.

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