How Canadians can trim expenses as recession fears grow

Concerns over a possible recession continue to grow, and Canadians have been finding ways to scale back on spending and top up their savings.

As a university student in southern Ontario, Kathleen Cassidy was seeking a way to stretch her dollars. While out shopping at her local grocery store, she found coupons and so began a longstanding commitment to seldom paying full price.

Now 10 years later, she’s acquired a massive following on social media, helping Canadians plan their way to more affordable grocery bills.

Cassidy started with the Instagram profile ‘Living on a Loonie,’ before expanding her presence to TikTok.

“I think couponing and saving money is really what you make it, and that looks really different for every family because you have different circumstances,” she explained.

“Anything from meal planning to checking what’s in your cupboard, making your shopping list, price matching, actually using physical coupons or cashback apps – all of those can save you money.”

Another option Cassidy points to is the loyalty points or rewards program at your grocery store. Loyalty programs are often simple to sign up for, and points add up quickly.

The PC Optimum program, for instance, allows members to earn points on purchases at participating stores, and redeem points to bring their bills down to size.

As many Canadians look to rein in their spending, Cassidy adds that points can also be used to help with holiday expenses.