ÐÇ¿Õ´«Ã½

Business

    • Cost-of-living increases have Canadian parents worried about opportunities for their children

    A family of four is seen in this file photo. (Photo by Emma Bauso via Pexels) A family of four is seen in this file photo. (Photo by Emma Bauso via Pexels)
    Share
    MONTREAL -

    With inflation at a nearly 40-year high, Canadians are feeling the financial strain. In a six-part series this summer, The Canadian Press is speaking to people at different stages of life to see where they're being hit the hardest. This story details the experiences of parents with young children.

    ------

    Carlyne St Jules may have to cut her family vacation short this year, thanks to soaring inflation.

    "Everything out here, it's $300 and up," she says of hotel rooms in Montreal, where she has family and previously studied dance.

    "To fill my tank ... to come here it was like $89. I have a small four-door Kia."

    St Jules, a 29-year-old event co-ordinator who now lives in New York City with her three children, ages two, seven and 10, says she "brought them out here so they can see my old stomping grounds -- but I don't know how much I'll be stomping around here with these prices."

    From ballooning grocery bills to pricier extracurricular activities, parents are confronting cost-of-living increases that have them worried about opportunities for their children and a stable financial future for their family.

    Inflation hit a 39-year high in June amid an economy hampered by COVID-19, labour shortages, supply chain challenges and the looming threat of a recession.

    Money doesn't stretch as far these days on everything from diapers to daycare and family outings and vacations are harder on the wallet as the cost to fill up your gas tank soars and prices for travel accommodations rise.

    Young parents aren't accustomed to such speedy price hikes; many weren't born yet when inflation last hit this pace in 1983.

    Mortgage and rent, along with car loans take some of the biggest bites out of parents' incomes, said Scott Hannah, CEO of the Credit Counselling Society.

    For drivers, prices at the pump have increased even faster -- gasoline prices for June, the most recent month available, were 54.6 higher than in the same month in 2021, Statistics Canada data show, the biggest driver of inflation in that period.

    Those financial drains are "really hurting a lot of Canadians now," he said. Meanwhile appetites grow, clothes need replacing and extracurricular sports, classes and activities mount. "If you've got a young family, it's the most expensive part of your years.

    "I'll be 65 next February -- it's hard to say that -- and back when I was a kid it wasn't that big of a deal if you didn't have the latest and greatest. But boy, it sure is now," Hannah said of the pressure of consumer trends.

    For Montreal residents Nabil and Samia Haliche, bigger grocery bills and toll at the pumps have pushed them to hunt harder for food sales.

    "We see it clearly at the grocery store," said Samia, after she and her husband stepped out of a second-hand clothing store in Montreal with their two daughters, ages two and 10.

    "Everything is more expensive than usual."

    Families with young children often have one parent on parental leave, off work or working part-time, adding to the financial strain.

    Housing prices and rents also shot up throughout the pandemic. The national home price index, which adjusts for pricing volatility, peaked at $835,000 in March, capping off a two-year climb of 52 per cent, according to the Canadian Real Estate Association. Prices spiralled upward in a frantic buying streak that saw families stretch budgets to enter the market or upgrade to more spacious digs amid COVID-19 confinement and rock-bottom rates.

    The average Canadian rent leaped 9.5 per cent in June from a year earlier, though remained 3.5 per cent below June 2019, according to Rentals.ca, an apartment-search website.

    "A lot of young families in the last two years have used this opportunity, No. 1, to start their family, and No. 2, to get into that first home," said Leah Zlatkin, a mortgage expert at LowestRates.ca.

    Many pushed their budgets to the limit to make down payments and monthly interest -- which promptly began to rise as the Bank of Canada started raising its key interest rate.

    "For those people, when you see a variable-rate increase it could be a bit shocking," Zlatkin said.

    For homeowners worried about their situation, Zlatkin suggested sitting down with a mortgage broker to discuss refinancing. If payments seem beyond their means at the moment, she said clients should immediately inform their mortgage provider, who can offer a payment deferral program or temporary interest-only payment plan.

    A clear-eyed look at what can be removed from the budget -- or replaced with less expensive options -- is also called for.

    "Late night while you're bottle-feeding or breast-feeding the baby, flip through the Flipp app and find some deals and do some price matching when you're in the grocery store."

    Hannah suggests buying in bulk -- small families can team up with larger ones -- cashing in loyalty points and swapping name brands for generic ones. Even a slightly awkward conversation with family members to lower holiday gift expectations may be wise.

    "No one wants to receive a gift from someone who can't afford to give it," he said.

    This report by The Canadian Press was first published August 3, 2022.

    CTVNews.ca ÐÇ¿Õ´«Ã½

    DEVELOPING

    DEVELOPING Here's what we know about Israel's latest strike in Beirut

    Smoke is rising over Lebanon’s capital of Beirut Friday after Israel’s military struck southern suburbs – a dramatic escalation in a year-long period of conflict between Israel and Hezbollah.

    Since she was a young girl growing up in Vancouver, Ginny Lam says her mom Yat Hei Law made it very clear she favoured her son William, because he was her male heir.

    The province's public security minister said he was "shocked" Thursday amid reports that a body believed to be that of a 14-year-old boy was found this week near a Hells Angels hideout near Quebec City.

    An Ontario man says it is 'unfair' to pay a $1,500 insurance surcharge because his four-year-old SUV is at a higher risk of being stolen.

    The Montreal couple from Mexico and their three children facing deportation have received a temporary residence permit.

    Canada

    • Since she was a young girl growing up in Vancouver, Ginny Lam says her mom Yat Hei Law made it very clear she favoured her son William, because he was her male heir.

    • The Montreal couple from Mexico and their three children facing deportation have received a temporary residence permit.

    • In the middle of the small crowd — near the tents, the lineup of kids awaiting face painting, the snack table — stood a jubilant Chiara Padovani. 'When I say 'tenant, you say 'power,'' she commanded to several dozen tenants, who chanted back with gusto. What looked like a summer block party in front of two north-end Toronto apartment buildings last month was a celebration of what renters who withheld payments for months called a 'huge victory.'

    • For the last seven-and-half months, Toronto resident Heather McArthur has been living out what she describes as her 'worst nightmare.' On Feb. 7, her then three-year-old son Jacob along with his father Loc Phu 'Jay' Le departed for what was supposed to be a week-long visit to Vietnam to celebrate the Lunar New Year with family, McArthur says.

    • Five bison are dead at Elk Island National Park east of Edmonton following an early Thursday morning collision.

    • The head of a committee monitoring the government's response to the inquiry into the 2020 Nova Scotia mass killing says she's pleased with progress made so far.

    World

    Politics

    Health

    Sci-Tech

    Entertainment

    • Lawyers representing the producers of 'Russians at War' say they may pursue legal action against Ontario's public broadcaster for pulling support for the controversial documentary amid outcry from the Ukrainian community and some Canadian politicians.

    • Viewers of Jeopardy got a chance to test their knowledge of trivia about B.C.'s biggest city Wednesday night.

    Business

    Lifestyle

    • They say a dog is a man’s best friend. In the case of Darren Cropper, from Bonfield, Ont., his three-year-old Siberian husky and golden retriever mix named Bear literally saved his life.

    Sports

    • Vancouver Canucks goalie Thatcher Demko says he's been working his way back from a rare lower-body muscle injury since being sidelined in last season's playoffs.

    • Toronto Blue Jays shortstop Bo Bichette returned to the 10-day injured list Thursday due to a right middle finger fracture.

    Autos

    • An Ontario man says it is 'unfair' to pay a $1,500 insurance surcharge because his four-year-old SUV is at a higher risk of being stolen.

    • Video of a brazen daylight auto theft which shows a suspect running over a victim in a stolen luxury SUV has been released by police west of Toronto.

    • The plant was expected to produce batteries for a million electric vehicles a year. Once up and running, it was supposed to create hundreds of permanent jobs in a small southeastern Ontario municipality. But two years later, spending on the construction of the Umicore plant has been delayed in what the company calls a "significant worsening of the EV market context."

    Local Spotlight

    They say a dog is a man’s best friend. In the case of Darren Cropper, from Bonfield, Ont., his three-year-old Siberian husky and golden retriever mix named Bear literally saved his life.

    A growing group of brides and wedding photographers from across the province say they have been taken for tens of thousands of dollars by a Barrie, Ont. wedding photographer.

    Paleontologists from the Royal B.C. Museum have uncovered "a trove of extraordinary fossils" high in the mountains of northern B.C., the museum announced Thursday.

    The search for a missing ancient 28-year-old chocolate donkey ended with a tragic discovery Wednesday.

    The Royal Canadian Mounted Police is celebrating an important milestone in the organization's history: 50 years since the first women joined the force.

    It's been a whirlwind of joyful events for a northern Ontario couple who just welcomed a baby into their family and won the $70 million Lotto Max jackpot last month.

    A Good Samaritan in New Brunswick has replaced a man's stolen bottle cart so he can continue to collect cans and bottles in his Moncton neighbourhood.

    David Krumholtz, known for roles like Bernard the Elf in The Santa Clause and physicist Isidor Rabi in Oppenheimer, has spent the latter part of his summer filming horror flick Altar in Winnipeg. He says Winnipeg is the most movie-savvy town he's ever been in.

    Edmontonians can count themselves lucky to ever see one tiger salamander, let alone the thousands one local woman says recently descended on her childhood home.

    • Getting a bed at one of British Columbia's drug detoxification facilities is like winning the lottery, the vice-president on the Nuu-chah-nulth Tribal Council says.

    • B.C.'s police watchdog is investigating the death of a woman who was shot by the RCMP after allegedly barricading herself in a room with a toddler early Thursday morning.

    • For the last seven-and-half months, Toronto resident Heather McArthur has been living out what she describes as her 'worst nightmare.' On Feb. 7, her then three-year-old son Jacob along with his father Loc Phu 'Jay' Le departed for what was supposed to be a week-long visit to Vietnam to celebrate the Lunar New Year with family, McArthur says.

    • An Ontario man says it is 'unfair' to pay a $1,500 insurance surcharge because his four-year-old SUV is at a higher risk of being stolen.

    • In the middle of the small crowd — near the tents, the lineup of kids awaiting face painting, the snack table — stood a jubilant Chiara Padovani. 'When I say 'tenant, you say 'power,'' she commanded to several dozen tenants, who chanted back with gusto. What looked like a summer block party in front of two north-end Toronto apartment buildings last month was a celebration of what renters who withheld payments for months called a 'huge victory.'

    • Injury prevention experts are urging Calgarians to ride carefully as e-scooter crashes land hundreds of people in the hospital.

    • WEATHER

      WEATHER

      Friday will be cool and wet with intermittent showers likely through most of the day.

    • Defence counsel for accused murderer John-Christopher Arrizza argues he was in an “altered state of mind†due to days of drug and alcohol use, sleep deprivation and not eating, when he fatally stabbed a man at a Banff nightclub in 2022.

    • BREAKING NEWS

      BREAKING NEWS

      A man has been taken to hospital in life-threatening condition following a stabbing incident that happened on Baseline Road in the early hours of Friday morning, according to the Ottawa Paramedic Service.

    • Police say a man, 30, who was taken to hospital in critical condition after being shot Thursday night has died.

    • Higher than average temperatures are in the forecast for Ottawa this Friday.

    • The Montreal couple from Mexico and their three children facing deportation have received a temporary residence permit.

    • The province's public security minister said he was "shocked" Thursday amid reports that a body believed to be that of a 14-year-old boy was found this week near a Hells Angels hideout near Quebec City.

    • Premier François Legault's approval rating continued to rise this summer, according to the Angus Reid Institute. After reaching a low at the end of 2023, his support rose by three percentage points over the summer to 39 per cent.

    • A mother and daughter say they woke up to flames encroaching on their third-floor apartment near Commonwealth Stadium early Friday morning.

    • WEATHER

      WEATHER

      The big weather story today won't really be rain, it'll be the cooler and breezier conditions.

    • Five bison are dead at Elk Island National Park east of Edmonton following an early Thursday morning collision.

    • Gas prices increased in all three Maritime provinces for the first time in more than a month.

    • A Nova Scotia woman has applied for a medically assisted death, saying after years of battling to receive out-of-country surgery for an illness that causes "indescribable" pain, she struggles to maintain the will to live.

    • A section of Herring Cove Road in the Spryfield area of Halifax is closed to traffic in both directions following a single-vehicle collision Friday morning.

    • A Winnipeg pet rescue is putting out a warning to dog owners across the city about a possible parvovirus in the province.

    • Shamattawa RCMP are searching for a missing six-year-old boy who hasn’t been seen since Wednesday morning.

    • The Winnipeg Police Service (WPS) has made an arrest following a fire that claimed the lives of two people.

    • Driving into the tunnels of Nutrien's Rocanville mine, the largest potash mine in the world by production volume, feels like driving down a lonely highway in the middle of the night.

    • Regina Fire crews were sent to a duplex fire on Dewdney Avenue early Friday morning.

    • A social media post of purple apples “growing†in Saskatchewan has sparked a lot of attention. However, garden experts say there's no such thing.

    • Amber and Adam Brueckner have a pool-shaped hole in their backyard – and their wallets.

    • The missing family that was last seen in Kitchener, Ont. on Sept. 1 has been found safe, according to police.

    • Police are trying to identify a man who approached a woman and child in Wellesley.

    • A gym teacher at a private Christian school in Saskatoon has been charged. Terra MacEwan, 44, is charged with assault with a weapon. A Saskatoon mother who spoke with CTV News says her autistic son was MacEwan's victim.

    • Driving into the tunnels of Nutrien's Rocanville mine, the largest potash mine in the world by production volume, feels like driving down a lonely highway in the middle of the night.

    • A case involving stolen funds from a Saskatchewan business being used to purchase cryptocurrency will be heading back to the courts, thanks to a new decision by Saskatchewan's Court of Appeal.

    • BREAKING

      BREAKING

      Emergency crews in northern Ontario found the bodies of four people inside a home where a fire broke out Thursday night.

    • As northern Ontario gets ready to welcome autumn this weekend, it’s still feeling a lot like summer as provincial forest fire crews continue to battle blazes.

    • An Ontario man says it is 'unfair' to pay a $1,500 insurance surcharge because his four-year-old SUV is at a higher risk of being stolen.

    • Police say just before 7:00 p.m. four teens entered a business in the 1000 block of Adelaide Street North.

    • Police were focusing their attention on the northeast corner of Richmond and Horton, with members of the emergency response unit taking up positions at the scene.

    • An Elgin County community is expected to double in size as plans for multiple residential developments loom. The Township of Southwold expects shovels in the ground as early as 2025.

    • Two men from Barrie have been charged after a deadly shooting at a park in Keswick on Wednesday.

    • A growing group of brides and wedding photographers from across the province say they have been taken for tens of thousands of dollars by a Barrie, Ont. wedding photographer.

    • Ontario Provincial Police executed a search warrant in Walkerton.

    • On Thursday, just after 9:30 a.m., a man was found and taken to police headquarters, where he was released with conditions and a future court date.

    • Standing up, speaking out, and showing solidarity — survivors and supporters gathered in the core to take back the night in Windsor. The city is just one of a growing list of communities that have declared intimate partner violence (IPV) an epidemic.

    • The Windsor Police Service (WPS) has seized over $56,000 in drugs and have arrested one suspect.

    • In a rare move, the Greater Victoria School District Board of Education has been slapped with a ministerial order from the province requiring it to update a student safety plan – drawing concern around political posturing leading up to an election.

    • The Union of B.C. Municipalities is asking the provincial government to make transit free for teenagers.

    • To appreciate why Mimi Vandermolen is so pleased to notice one particular vehicle she’s walking past, you need to know that seeing this many cars in one place would have been unimaginable when she was growing-up in the post-war Netherlands.

    • A pair of runaway pigs are in the custody of an animal sanctuary in the Okanagan after evading police and volunteers for hours earlier this week.

    • The Red Bridge, a historic landmark in Kamloops, B.C., was completely destroyed by fire early Thursday morning.

    • Animal protection officers in British Columbia have rescued three pit bulls – including one that gave birth to 10 puppies – from a rat-infested home in Kelowna.

    • A Vulcan, Alta., man has been charged with a Lethbridge woman's murder after her body was found in the Oyen area.

    • A Lethbridge couple got a good reminder as to why you should keep your vehicle doors locked at all times.

    • Lethbridge residents who live near the police range can expect to hear plenty of shots fired Wednesday and Thursday.

    • A new community health profile in the Algoma District shows the area is significantly below provincial averages in a number of health metrics.

    • North Bay Police Service says one person has died following an industrial accident at the Ontario Northland Transportation Commission Rail Yard on Tuesday.

    • Three northern Ontario residents are charged with drug trafficking after the vehicle they were in got stuck along a bush road off Highway 17 on Monday.

    N.L.

    Shopping Trends

    The Shopping Trends team is independent of the journalists at CTV News. We may earn a commission when you use our links to shop. Read about us.

    Stay Connected
    Follow CTV News