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

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.

Cost-of-living increases have Canadian parents worried about opportunities for their children: 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.Read More