Posted yesterday at 2:00 p.m.
I eat less meat
I am indeed worried. I am a 78-year-old retiree who still enjoys a decent income, but my purchasing power is decreasing from year to year, my work pension no longer being indexed. This year will therefore be the last I will visit Mexico. I eat less and less meat, which is not good for my wallet anyway. I started at the gym almost a year ago, but I will not renew my subscription to the EPIC Center despite the quality of the services and will be content to use the small municipal gym. I’m also going to keep my car, which is already seven years old, longer than usual (hoping it helps!). This should allow me to continue my piano lessons, piano camps, and go to the cinema to see the films that interest me. However, I dread the day when I will have to go to RPA, hoping that the sale of my condo will allow me to meet the cost of the place I have already selected. We have no choice, we have to deal with it!
Denise Lalande
Back to work
I prevent the blow of the recession (young 60-year-old retiree with a $34,000 non-indexed pension from Air Canada) by returning to the job market (small 90-day contract with the federal government that I was able to finally get after three months of testing and process).
Terry Simmonds
think and hope
The first thought that comes to mind: we wait. Reflect on our expenses and hope for the best. Barring collective action, we will have to endure this period.
Yvan Sauvageau
Reduce our consumption
We are retired, the only way we can use to fight inflation is to reduce our consumption. When we look at our economies, which fluctuate with the stock market, it’s worrying. At least our house is paid for, all that remains is to put money into its upkeep. I have always cooked a lot. In summer, I can or freeze many products that are inaccessible in winter. It’s a good way to reduce our expenses. The recession makes us think about our consumption, we don’t need much to be happy: friends, a beautiful environment and simple activities such as hikes in the forest, evenings of board games, etc. I think that in the next few years, we will travel less. We don’t spend on credit, except for cars. The important thing is to adapt your lifestyle to your means. We still have that ability.
Elaine Richer
Worry overwhelms us
With no retirement income other than an RRSP, which runs out fairly quickly, and QPPs and PSVs, it is obvious that the meteoric rise in consumer prices (gas and groceries) is extremely hurting, we are quite worried. We have worked hard all our lives to have a fairly comfortable retirement and there, we sleep more and more badly and we do not see the future in a good light. Governments don’t help people in our situation too much, it’s depressing.
André Comtois
cook discounts
We are ready to face it. We are now in our 60s and debt free. We cook, at the grocery store our meals have been made with weekly discounts for several years now.
Joanne and Yves Thibault
Reduce our tiny expenses
My wife and I are both 80 years old, our incomes are very limited, our small investments have been hit by the stock market and we are very worried. We cannot help but reduce our expenses, which are already at the floor. It’s not easy to be old and helpless.
Jean Guy Giroux
make a budget
No matter what our income, no one will be able to take control of their personal or family finances if they don’t know where their money is going each month. Writing a budget according to your basic real needs (accommodation, food, transport, communication) is essential. Analyzing the real cost of these four positions in relation to your monthly NET income is the first step in dealing with a recession. Budgeting saves us from sticking our heads in the sand.
Andre Besner
We make cuts
We cut, we cut, we cut everything! We cut groceries, clothes, outings and so on. What else can we do?
Johanne Gaudreault
Report expenses
I see my retirement fund losing 12% for a few months and I must, because of my age, start withdrawing sums next January. Although these funds are invested with very moderate risk, it hurts. So we postpone expenses: travel, purchase of furniture and fewer outings to the restaurant. We look at discounts regularly. We still live well since we don’t have a mortgage. Fortunately !
Serge Leduc, Pincourt
Adapt to survive
I am on the eve of my 70s, and since my early twenties, each year I prepare our annual budget, which I respect to the letter. This allows me to adjust to all economic or financial variations. It is simple and efficient. As Darwin said, only those who adapt survive.
Rene Cloutier