Kahlan Thomson describes her upbringing as stable. Her parents helped pay her tuition throughout university, but she was responsible for rent and activities. Now, she earns a modest income working as a social media engagement specialist in Toronto.
Thomson, 27, considers herself to be smart with her money. “But despite planning to the best of my ability — whether that be getting a financial adviser or budgeting — it feels like a one-step forward, two-steps back sort of ordeal due to the high cost of living.”
According to FP Canada’s 2024 Financial Stress Index, 44 per cent of respondents cited finances as their biggest stressor, up from 40 per cent in 2023 and 38 per cent in 2022. Higher grocery prices, inflation and housing-related costs were some of the main contributors to financial stress and anxiety, exacerbated among Canadians younger than 35.
These stressors, combined with endless scrolling on social media, has given rise to “money dysmorphia” among younger generations. While it’s not a clinical diagnosis, money dysmorphia is characterized by an irrational insecurity around one’s finances, describing the distance between an individual’s perceived financial status and their actual financial reality.
(The term borrows its name from body dysmorphia, which is characterized by constant anxiety about one’s physical appearance.) According to experts, young Canadians can avoid falling into the comparison trap — and exacerbating their fears they’re falling behind, even if they’re on solid financial ground — by setting clear financial goals for themselves and monitoring their social media habits.
Getting a handle on money dysmorphia
هذه القصة مأخوذة من طبعة July 08, 2024 من Toronto Star.
اشترك في Magzter GOLD للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
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هذه القصة مأخوذة من طبعة July 08, 2024 من Toronto Star.
اشترك في Magzter GOLD للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
Disgraceful behaviour on Parliament Hill
‘Was it you or not?’ Jagmeet Singh confronts heckler on Parliament Hill, Sept. 17
How to Fix our Congestion Crisis - Toronto has some of the worst congestion on the continent, Coun. Brad Bradford writes. Fixing it requires common sense and better planning and prioritization at the top.
Toronto has one of the world’s best film festivals but as stars like Will Ferrell pointed out, we also have some of the world’s worst traffic. He joins a long list of international celebrities, professional athletes and musicians that have echoed the concerns of thousands of residents forced to do battle with Toronto’s gridlock everyday.
Rogers' Power Play- Company will have near-lock on city's pro sports with buyout of Bell's stake in MLSE
One man is now poised to control every major men’s pro sports team in Toronto. Edward Rogers will have achieved his long-desired goal of total power over Maple Leaf Sports & Entertainment (MLSE), if a $4.7-billion deal to snap up Bell Canada’s 37.5 per cent stake is completed, making Rogers Communications the majority owner of the Maple Leafs, Raptors, Argonauts and Toronto FC.For a decade, MLSE’s board had been split between Rogers, Bell and MLSE chair Larry Tanenbaum’s Kilmer Sports.
'It Was a Recipe for this Incident' - GO riders blame construction for crowded platform where woman hit
The GO Transit platform where a woman was struck by an express train on Tuesday has been partially closed for several months due to construction at the station, causing crowding during rush hour.Toronto police said the 46-year-old woman was walking near the edge of the platform at Long Branch GO Station when she was hit by an express train bypassing the station at around 8:15 a.m. She was rushed to hospital in life-threatening condition. No update on her condition was available Wednesday.
Weakened Liberal Party Saved by BQ - Who would have thought Canada might be saved from an election by the only political party that seeks to break up the country?
Prime Minister Justin Trudeau has a chance to keep his Liberals in power thanks to Bloc Québécois Leader Yves-François Blanchet. On Tuesday, without engaging any of the parties in substantive negotiations, the Liberals decided to lay the future of the government on the tracks of the oncoming Conservative train. They tempted the fate not just of their own political lifespan, but also that of all the policies they say they want to accomplish: a more compassionate and responsive immigration system; action to curb greenhouse gasses; a school food program; a pharmacare program that provides free contraception and diabetes medication; better (though inadequate) disability payments; and the entrenchment of a dental care program that has seen a huge uptick of subscribers.
At Least We'll All Know Who to Blame - Edward Rogers has become Toronto sports fans' one-stop target for owner-bashing
Sports needs characters we can root for, and characters we can blame, writes Edward Keenan. Rogers buying Bell's MLSE stake will supply more of the latter, starting with chairman Edward Rogers.For a sports fan, there’s something satisfying about that. For years with the Leafs in particular, the owner was a pension plan, and it was hard to tell if its controlling executives (never mind the teachers whose money they were spending) cared about hockey one way or the other. And whether they did or not, how could you figure out who was responsible for what they did as a result?
Lebanon is Rocked Again by Deadly Exploding Devices - Israel acknowledges 'new phase in war'; civilians among dead
Walkie-talkies and solar equipment exploded in Beirut and other parts of Lebanon on Wednesday in an apparent second wave of attacks targeting devices a day after pagers used by Hezbollah blew up, state media and officials for the militant group said. At least 20 people were killed and more than 450 wounded in the second wave, the Health Ministry said.
Feds Impose New Limits on International Students - Immigration Minister Marc Miller has announced new limits on international students Wednesday, saying Canada is facing an untenable number of people wishing to come here.
Enrolment cuts, work permit restrictions will further slow population growth. Immigration Minister Marc Miller has announced new limits on international students Wednesday, saying Canada is facing an untenable number of people wishing to come here.Canada will reduce the annual cap on study permits by another 10 per cent in 2025 and restrict eligibility for international graduates' work permits to better meet labour market needs, amid continuing public pressure to tame runaway population growth.
Bloc Will Vote to Prop up Liberals - Bloc Québécois Leader Yves-Francois Blanchet, said he does not have confidence in Prime Minister Justin Trudeau's minority government, but believes he can use the situation to push for his party's priorities.
Leader says he will oppose Tory motion to bring down Trudeau government. Bloc Québécois Leader Yves-Francois Blanchet, said he does not have confidence in Prime Minister Justin Trudeau's minority government, but believes he can use the situation to push for his party's priorities.
Dutcher wins second Polaris award
Singer donating prize to school in New Brunswick
