Just heard in the Marketplace podcast that a single mother in US had to use Go Fund Me to raise $2000 to cover cost of car and air conditioning repair because her salary as an assistant to a Physician can’t catch up with inflation. She has a 9-year-old son who is as tall as she is.
Go Fund Me said this trend is increasing to cover necessity. Very alarming indeed.
A recent poll by Ipsos Reid for Global News said that 60% of Canadians worry about feeding their families due to the fast-rising food price.
Someone told me that they will buy their groceries right before the grocery stores close because they will put the soon-to-expiry products on sell. They usually buy their meat at that time. Good idea to save money. Meat can be frozen to keep it last a bit longer.
Some smaller independent mum and pop grocery stores sell fruits and vegetables cheaper than the big grocery chains.
Of course, use the food banks when one needs to. I keep hearing news that food banks consumption jumped while the donation dropped. Any good news please? If government give more funding to food banks, would it cause inflation? Food banks would have to buy from food suppliers or grocery stores. Would it be the same impact as government giving relief money to the people directly? Federal government double the GST credit but analysis said the targeting was not accurate. It gave $340 million to young people who live in high income households.
If necessary, use Go Fund Me please. I know many people use it as last resort.
How about a Windfall tax for the big three grocery stores chains in Canada? 😊 I will vote for it.
Worthfy Financial Literacy Counselling 