Have you also stopped eating out and ordering in to save money? | Daily Hive

Have you also stopped eating out and ordering food to save money?

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The country’s high cost of living is leading Canadians to make difficult decisions to save money, especially cutting costs on basic necessities like food.

That’s according to the recent MNP Consumer Debt Index put together by Ipsos, which recently surveyed 2,000 Canadians 18 years and older.

The survey found that nearly three in 10 Canadians surveyed (28%) resorted to eating less to save money.

Over half (51%) of respondents said they’re trying to reduce costs by being more mindful at the grocery store.

Canadians also think twice before going out to eat, as 44% said they’ve stopped eating in restaurants altogether or said they’re no longer getting take-out.

Food insecurity

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Other reports have also emphasized how the high costs of essentials have pushed many Canadians to the edge.

A survey conducted by the Agri-Food Analytics Lab at Dalhousie University earlier this year found that over half of respondents (58%) said they were “more inclined” to eat food past its best-before dates because of high grocery prices.

Recently, Food Banks Canada said its locations across the country see nearly two million visits every month, and over 600,000 of those are by children who rely on food bank services to meet basic needs.

What’s more troubling is that food insecurity in Canada could result in concerning and life-threatening health conditions.

A recent report from the Canadian Medical Association Journal (CMAJ) detailed the case of a 65-year-old woman who was diagnosed with scurvy at a Toronto hospital last year.

Authors of the report say this case emphasizes the possible comeback of scurvy and are advising doctors to have “a higher index of suspicion” in patients with low socioeconomic status who are experiencing food insecurity.

Splitting and sharing expenses to save money

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MNP’s findings also highlight that Canadians favour splitting the bill or sharing housing to save money.

Survey results found that nearly one-third (30%) of Canadians adopt bill-splitting strategies, such as carpooling, subscription sharing, and sharing childcare duties.

Another popular strategy was cohabitating with others, as 13% of respondents said they were living with friends, partners, and family members and looking for additional roommates to save on housing costs.

Grant Bazian, president of MNP LTD, noted that these types of strategies “showcase not only resourcefulness but also the financial pressure many are facing.”

“These measures reflect the harsh reality of soaring living costs, compelling Canadians to find new ways to save,” he stated.

MNP’s data found the following when it came to how Canadians are looking to cut costs in the coming months:

Canadians’ top money-saving strategies for the coming months

Bill Splitting – 27%
Co-habitation – 14%
Creating a Budget/Recording All Expenses – 14%
Cancelling Subscriptions – 13%
Stopping Eating in Restaurants or Getting Takeout – 13%
Avoiding Impulse Purchases – 13%
Reducing Utility Consumption – 13%
Going Thrift Shopping – 12%
Finding Free or Low-Cost Entertainment – 12%
Grocery Shopping Strategically – 12%
Negotiating Bills – 11%
Cutting Vices – 10%
Moving Somewhere More Affordable – 10%
Splitting Grocery Costs/Buying in Bulk with Roommates, Friends, or Family – 9%

How has the cost-of-living crisis impacted your daily decisions? Are you cooking at home more or feel forced to live with roommates? Share your experience with us at trending@dailyhive.com. We may contact you for a future story.

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With files from Isabelle Docto

This article was originally published on October 16, 2024. It has since been updated.