What’s In This Email

• The great Canadian burnout

• How to stop living paycheck-to-paycheck

• 25,000+ people are planning to boycott Loblaw Companies

• Canada’s 5 largest banks in hot water of sales pressure

• Notable Spotlight: Chadon Beni

• Notable Plug 🔌 

✍️ TAKE NOTE

The Great Canadian Burnout: Are You Part of the Exodus?

Feeling stuck and undervalued at work? You're not alone. A staggering 71% of Canadian workers, itching for a change, are eyeing the exits within the next year!

Key Takeaways:

• Burnout is rampant: Over half (55%) of workers report feeling significantly more stressed and unmotivated compared to last year. This could be due to factors like workload, lack of recognition, or unclear career paths.

• Pay disparity is a dealbreaker: Wages haven't kept up with inflation, leaving many workers struggling financially. This dissatisfaction is prompting them to seek opportunities with better compensation and benefits packages.

• Job market shifts ahead: Interestingly, despite the high quit rate, many employers (51%) still expect to increase their permanent headcount. This, combined with a potential end to layoffs, could lead to a surge in job openings in 2024.

Why this matters: Millennials and Gen Z value work-life balance and purpose in their careers. This trend reflects a growing desire for fair compensation, meaningful work, and a supportive work environment. It's a crucial message for employers to adapt and offer competitive packages to retain top talent. So, if you're feeling unappreciated or unfulfilled, this might be the perfect time to leverage your skills and explore exciting new opportunities!

Read the full article here.

Stuck on Repeat: Break the Paycheck-to-Paycheck Cycle

Feeling like a hamster on a financial wheel? You're not alone. Over 60% of Canadians live paycheck to paycheck, struggling to save or get ahead. But there's hope! Here's how to break free:

Key Takeaways:

• Face the Facts: Denial won't pay the bills. Track your income and expenses for a month. Identify areas where your money leaks out, like impulse buys or hidden debt. Be honest about your spending habits.

• Budgeting is Your BFF: A budget is your roadmap to financial freedom. Track your income from all sources, categorize your expenses (fixed and variable), allocate your income, and leave room for flexibility. Budgeting apps like YNAB can help. Keep it simple – the 50/30/20 rule (50% needs, 30% wants, 20% savings) is a great starting point.

• Plug the Leaks: Every little bit counts. Cook more meals at home, unsubscribe from unused subscriptions, negotiate bills, shop around for better deals, and challenge impulse purchases with a 24-hour wait rule.

• Mindset Matters: Financial stability is a mental game. Cultivate a positive attitude, focus on abundance (what you have and can create), prioritize long-term goals over instant gratification, and take responsibility for your situation. Believe in yourself!

• Boost Your Income (Optional): Explore ways to increase your income stream. Armed with research on your worth, ask for a raise, take on a side hustle, sell unused items, or upskill yourself to become more valuable in the job market.

Emergency Fund: Your Safety Net:

Aim for 3-6 months of living expenses saved for unexpected costs. Start small and build up gradually.

Debt? No Problem (Well, Kinda):

Strategize your debt payments. Tackle high-interest debts first, consider consolidation for lower rates, negotiate repayment plans, and resist adding new debt.

Saving Strategies:

• Reduce Spending: Embrace minimalism, challenge yourself with a no-spend period, seek out free entertainment, find cheaper alternatives, and learn to say no to unnecessary purchases.

• Increase Savings: Set realistic goals, automate transfers to your savings account, explore high-yield savings accounts, and contribute to retirement accounts like IRAs or 401(k)s to benefit from compound interest.

Don't Go It Alone:

• Seek Help: There are free or low-cost resources available. To stay motivated, consider financial counselling, debt management plans, and online support groups.

Remember: Change takes time. Celebrate your progress, no matter how small, and never give up on building a financially secure future!

Read the full article here.

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@megan.keepingitreal

Are you going to join the #loblawsboycott? 💭 Will it make a difference? Who knows. But you don't know unless you try, and I fully support ... See more

@ooooononononono

#tiktokcanada #fypシ #beware #fyp

Chadon Beni

🇹🇹 Fusion Trini-Caribbean Menu & Cocktails

toronto.fan

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Disclosure: While we utilize artificial intelligence (AI) to assist with certain aspects of content development, all information provided in our content is thoroughly vetted and edited by our team of humans. We strive to ensure the accuracy and reliability of all information. However, we recommend that readers conduct research or seek professional advice to make informed decisions. This email may contain sponsored content.