[et_pb_section fb_built=”1″ _builder_version=”4.27.4″ _module_preset=”default” bottom_divider_style=”wave2″ bottom_divider_color=”#E7DFF3″ bottom_divider_height=”61px” da_disable_devices=”off|off|off” global_colors_info=”{}” da_is_popup=”off” da_exit_intent=”off” da_has_close=”on” da_alt_close=”off” da_dark_close=”off” da_not_modal=”on” da_is_singular=”off” da_with_loader=”off” da_has_shadow=”on”][et_pb_row _builder_version=”4.27.4″ _module_preset=”default” hover_enabled=”0″ locked=”off” global_colors_info=”{}” custom_padding=”||0px||false|false” custom_margin=”||0px||false|false” sticky_enabled=”0″][et_pb_column type=”4_4″ _builder_version=”4.23.4″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.27.4″ _module_preset=”default” global_colors_info=”{}” custom_padding=”||0px|||”]<\/p>\n
Credit Counselling Society urges Canadians to prepare for summer spending pressures amid<\/span> a<\/span> new <\/span>tone<\/span> <\/span>in Ottawa and upcoming rate announcement.<\/span><\/em><\/p>\n NEW WESTMINSTER, BC, June 2, 2025<\/p>\n <\/span><\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.27.4″ _module_preset=”default” column_structure=”1_2,1_2″ custom_margin=”0px||0px||false|false” custom_padding=”0px||0px||false|false” hover_enabled=”0″ sticky_enabled=”0″][et_pb_column _builder_version=”4.27.4″ _module_preset=”default” type=”1_2″][et_pb_text _builder_version=”4.27.4″ _module_preset=”default” hover_enabled=”0″ sticky_enabled=”0″]<\/p>\n With new economic and political conversations taking shape in Ottawa, including Prime Minister Mark Carney, a former Governor of the Bank of Canada, stepping into the spotlight, many Canadians are watching the upcoming interest rate announcement on June 5 for signs of change. But despite shifting signals at the top, the reality for most households remains the same: life is expensive, and this summer won\u2019t be any different.<\/span>\u00a0<\/span><\/p>\n \u201cSummer comes with its own set of financial pressures. School is out, the kids need care or activities, and many people feel the pull to travel or make the most of their holiday time,\u201d explains Peta Wales, President and CEO of the Credit Counselling Society (CCS). \u201cA rate cut might help those with a variable mortgage or home equity line of credit, but it will not make June, July, and August much cheaper.\u201d<\/span><\/p>\n CCS sees firsthand how Canadians approach this seasonal strain. These findings come from their latest report on Canadian household finances, available <\/span>here<\/span><\/a>:<\/span><\/p>\n <\/span><\/p>\n [\/et_pb_text][\/et_pb_column][et_pb_column _builder_version=”4.27.4″ _module_preset=”default” type=”1_2″][et_pb_image src=”https:\/\/nomoredebts.org\/wp-content\/uploads\/2025\/06\/The-3-Approaches-to-Financial-Strain-in-Canada-Infographic.png” _builder_version=”4.27.4″ _module_preset=”default” hover_enabled=”0″ sticky_enabled=”0″ alt=”The 3 Approaches To Financial Strain In Canada Infographic” title_text=”The 3 Approaches To Financial Strain In Canada Infographic”][\/et_pb_image][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.27.4″ _module_preset=”default” hover_enabled=”0″ sticky_enabled=”0″ custom_margin=”0px||||false|false” custom_padding=”0px||||false|false”][et_pb_column _builder_version=”4.27.4″ _module_preset=”default” type=”4_4″][et_pb_text _builder_version=”4.27.4″ _module_preset=”default” hover_enabled=”0″ sticky_enabled=”0″]<\/p>\n Recognizing that Canadians manage financial stress in different ways, CCS offers guidance tailored to each group to help ease summer spending challenges:\u00a0<\/span>\u00a0<\/span><\/p>\n For <\/span>copers<\/span><\/b> who are trying hard to budget but still seem like they are coming up short, summer can make things worse as travel, home renovations, and special events add to the pressure.\u00a0 Regular budget reviews help stay on top of fluctuating costs like increased utility bills or seasonal spending, while also identifying opportunities for savings that can make <\/span>summer more affordable<\/span><\/a>.<\/span>\u00a0<\/span><\/p>\n For <\/span>strugglers<\/span><\/b> who<\/span> rely on credit cards or loans<\/span><\/a> to cover everyday expenses, tracking all spending carefully can help identify small adjustments that add up\u2014especially with kids at home and summer activities in full swing. Prioritizing essentials like food and housing, and exploring local community programs or free events, can help<\/span> to not<\/span> sacrifice fun or adding to credit stress. Seeking free credit counselling assistance to tackle your debt is equally important to prevent debt from spiraling\u2014especially before the fall and winter spending seasons arrives.<\/span>\u00a0<\/span><\/p>\n For <\/span>avoiders<\/span><\/b> who feel overwhelmed and <\/span>delay dealing with debt<\/span><\/a>, summer can bring added guilt or isolation, especially if they are unable to participate in seasonal activities with friends or family. Reaching out for support now can ease that emotional and financial load. CCS provides confidential, non-judgmental help to create manageable plans tailored to each situation. Early intervention can prevent debt from reaching a critical point and improve peace of mind, before summer stress turns into fall regret.<\/span>\u00a0<\/span><\/p>\n \u201cThis might be the first rate announcement under a new political lens, but the financial pressure people feel day-to-day has not relented\u201d states Isaiah Chan, Vice President of Programs and Services at CCS. \u201cRegardless if rates go down or stay the same, the average person is still facing the same pressures at the grocery store, gas pump, and on their summer calendar.\u201d<\/span>\u00a0<\/span><\/p>\n \u201cThe good news is that no one has to manage this on their own,\u201d adds Mason Cox, Director of Counselling at CCS. \u201cWhether it\u2019s summer spending or year-round financial stress, we\u2019re here to help you build a plan that works, without judgment and without pressure.\u201d<\/span>\u00a0<\/span><\/p>\n To speak with a certified credit counsellor, visit nomoredebts.org<\/a> or call 1-888-527-8999.<\/span><\/b>\u00a0<\/span><\/p>\n\n