Grandparents killed in wrong-way crash on Hwy. 401 identified
A 60-year-old man and a 55-year-old woman killed in a wrong-way crash on Highway 401 earlier this week have been identified by the Consulate General of India in Toronto.
As spring shifts into summer, seasonal spending habits can take a toll on your savings. But one personal finance expert offers advice on how to avoid overspending this year.
“People are coming out of their houses, socializing, starting to be out in the world,” money expert Robyn Thompson told CTV’s Your Morning on Tuesday. “When they do that, often you have a ‘freshen-up’ of (your) wardrobe. You have a ‘freshen-up’ of some items in the house, and you start to spend some money on things that make you feel great.”
Thompson explained that the added pressure of social media can trap us in a cycle of spending desires that are difficult to dismiss.
“We live in an influence culture, so we start to see on our feeds everything that people are spending money on, buying, doing, all their experiences, and that could cause a bit of insecurity in our own life, psychologically,” she said.
“(Fear of missing out) is rampant in our culture. So it’s really about getting an understanding of how we’re spending money, what it looks like, and does it support our longer term goals?”
Thompson pointed out that behavioural research has shown more discomfort in consumers “shelling out hard cash” than those using other ways to pay, such as debit or credit cards.
“We live in a digital currency,” she said, explaining that this could lead to more impulsive spending that clears the way to “increased debt and reduced savings.”
Thompson suggests combatting this through maintaining further transparency with monthly expenses.
“You want to take a look at your spending,” she said. “You want to download and track your expenses. So make a column. What are your expenses you need to actually have the lights on?”
Along with assessing fixed expenses, Thompson also suggested evaluating discretionary spending: “Do those discretionary expenses actually fit in your lifestyle?”
She recommends reviewing discretionary costs for the last two months, which will lead to a “clearer idea of how to actually achieve your goals.”
To do this, Thompson suggests creating a categorized spreadsheet that can illuminate the spending habits that digital currency often casts in the dark.
“You’d be surprised of what you’ll actually find when you start to deep dive into it,” she said.
More of Thompson’s advice includes setting spending boundaries, bookmarking desired purchases for another time, and taking 15 minute grace periods to mull over big buying decisions.
“Be clear about what it is your buying for,” she said.
For more advice from Thompson, watch the video above.
A 60-year-old man and a 55-year-old woman killed in a wrong-way crash on Highway 401 earlier this week have been identified by the Consulate General of India in Toronto.
Three people have been arrested and charged in the killing of B.C. Sikh activist Hardeep Singh Nijjar – as authorities continue investigating potential connections to the Indian government.
Pius Suter scored with 1:39 left and the Vancouver Canucks advanced to the second round of the NHL playoffs with a 1-0 victory over the Nashville Predators on Friday night in Game 6.
TD Bank Group could be hit with more severe penalties than previously expected, says a banking analyst after a report that the investigation it faces in the U.S. is tied to laundering illicit fentanyl profits.
A Quebec man who pleaded guilty to threatening Prime Minister Justin Trudeau and Premier François Legault has been sentenced to 20 months in jail.
RCMP say human remains found in a rural area in central Saskatchewan may have been there for a decade or more.
A source close to singer Britney Spears tells CNN that the pop star is 'home and safe' after she had a 'major fight' with her boyfriend on Wednesday night at the Chateau Marmont in West Hollywood.
As Wegovy becomes available to Canadians starting Monday, a medical expert is cautioning patients wanting to use the drug to lose weight that no medication is a ''magic bullet,' and the new medication is meant particularly for people who meet certain criteria related to obesity and weight.
Drew Carey took over as host of 'The Price Is Right' and hopes he’s there for life. 'I'm not going anywhere,' he told 'Entertainment Tonight' of the job he took over from longtime host Bob Barker in 2007.
Alberta Ballet's double-bill production of 'Der Wolf' and 'The Rite of Spring' marks not only its final show of the season, but the last production for twin sisters Alexandra and Jennifer Gibson.
A British Columbia mayor has been censured by city council – stripping him of his travel and lobbying budgets and removing him from city committees – for allegedly distributing a book that questions the history of Indigenous residential schools in Canada.
Three men in Quebec from the same family have fathered more than 600 children.
A group of SaskPower workers recently received special recognition at the legislature – for their efforts in repairing one of Saskatchewan's largest power plants after it was knocked offline for months following a serious flood last summer.
A police officer on Montreal's South Shore anonymously donated a kidney that wound up drastically changing the life of a schoolteacher living on dialysis.
Since 1932, Montreal's Henri Henri has been filled to the brim with every possible kind of hat, from newsboy caps to feathered fedoras.
Police in Oak Bay, B.C., had to close a stretch of road Sunday to help an elephant seal named Emerson get safely back into the water.
Out of more than 9,000 entries from over 2,000 breweries in 50 countries, a handful of B.C. brews landed on the podium at the World Beer Cup this week.
Raneem, 10, lives with a neurological condition and liver disease and needs Cholbam, a medication, for a longer and healthier life.