Canadians ringing in 2024 with ‘big’ money resolutions. How to get a head start

globalnews.ca:

Canadians are ringing in the new year with plans to cut down on spending and make other behaviour changes amid growing recession fears after a year riddled with concerns about inflation, rising interest rates and high cost of living.

New polling by Ipsos conducted exclusively for Global News showed that two-thirds (66 per cent) of the Canadian population is concerned that they will have to delay future plans or life projects like buying a home, starting a family or travelling because of their financial situation.

Nearly 70 per cent are worried they can’t absorb any unexpected costs worth $1,000 or more and over half (53 per cent) are concerned they might not have enough money to put food on the table for their family, according to the poll published Monday.

Heading into 2024, over half (53 per cent) of Canadians said they plan to cut back on eating out, 48 per cent anticipate searching for sales on flyers and 45 per cent said they would spend less on entertainment this year.

“It’s very worrying to see how on edge people are and how they’re trying to manage just from day to day, everything from reconsidering their holiday spending … to cut(ting) back on doing things like buying clothes, going out to restaurants,” said Darrell Bricker, Global CEO of Ipsos Public Affairs.

Cost of living is a “universal issue” affecting Canadians across different age groups and provinces, Bricker said.

“It’s not just people living in one province, not people just in one demographic group, although younger people and people who are in the spending stage of their life like Gen X, they’re feeling it a bit more,” he told Global News in an interview.

“But seniors are also pretty worried about whether or not they’re going to be in a position to be