Inflation: Canadians cut spending as back-to-school shopping kicks off

With school set to start in a couple of weeks, inflation has some parents thinking longer and smarter over how much money to spend on back-to-school shopping.

Statistics Canada is reporting that inflation has cooled but Canadians are reportedly still being financially sensible.

In a recent survey, 57 per cent of respondents told the Angus Reid Institute that they’ve cut back on discretionary spending but the president of the agency says she’s more concerned about how Canadians are spending for the future.

Parents are finding themselves returning to back-to-school shopping in hopes of a full year of in-person learning. 77 per cent of Canadians tell the Retail Council of Canada that they plan to spend more than $50 at the least.

Lifestyle vlogger Andrea Traynor says families on a budget should take a look at what they have already. “Take a look, you probably have five, six, seven backpacks sitting around from all those years that you did buy brand new stuff when times were maybe a little bit easier for your family.”

Traynor also recommends buying back-to-school tech products refurbished. She says Apple has a refurbished section that has all the same warrenties as the new products, all for less money.