In the latest installment of Global News’ series “On the Brink,” the focus is on individuals grappling with the escalating cost of living, particularly through the lens of one Canadian woman’s experience with couponing. As economic instability drives grocery prices higher, many Canadians find their budgets stretched thin. Government data reveals that Canada has significant trade ties with the U.S., exporting around $72.6 billion in agricultural products. However, ongoing trade tensions may threaten Canadians’ access to affordable food, according to experts like Matt Poirier from the Retail Council of Canada. In this challenging environment, families are increasingly seeking innovative ways to save money.
Introducing Kathleen Cassidy, the creator of the Instagram account “Living on a Loonie,” which provides insights and tips on budgeting effectively amidst rising grocery costs. Based in Toronto, Cassidy, who started her account during university, has witnessed a shift in public perception about couponing. She notes that as prices climb, more people are willing to invest time in finding deals, overcoming the previous stigma that budgeting was tedious and time-consuming. Since 2020, as the COVID-19 pandemic took hold, Cassidy’s following has surged to over 217,000, with notable fluctuations corresponding to inflationary trends and trade issues.
Cassidy advocates for a step-by-step approach to couponing and saving. She encourages individuals to begin with one simple method and master it before exploring further strategies. One significant barrier, she notes, is brand loyalty that hinders people from shopping around for better prices. Coupons often apply to lesser-known brands or new items, so being open to experimenting can lead to substantial savings. Furthermore, Cassidy emphasizes the importance of understanding sales cycles in order to maximize savings.
Budgeting is another essential aspect that Cassidy encourages, as it can illuminate spending patterns. She suggests dedicating just 15 to 20 minutes daily to track expenses using simple tools like Excel. Monitoring where money is spent can reveal opportunities for adjustments, particularly given the rising costs of everyday essentials. She also recommends meal planning and creating shopping lists, which can mitigate food waste—a significant financial drain as spoiled produce means throwing away hard-earned money.
Beyond personal savings, Cassidy illustrates how couponing has allowed her to contribute to her community while financially supporting her family. By securing good deals on essentials, she not only bolsters her household budget but also enables herself to participate in community initiatives. This dual impact of savings has proved particularly valuable in challenging economic times, allowing families to allocate funds toward activities they enjoy or essential needs.
As the “On the Brink” series continues, Kathleen Cassidy’s story embodies the resourcefulness many are embracing amid economic uncertainty. She exemplifies how individuals can navigate rising costs by embracing strategies like couponing, budgeting, and community-focused initiatives, providing both practical solutions and inspiration for others facing similar challenges. The next installment is anticipated to further explore the experiences of individuals against the backdrop of a fluctuating economy.
