From Cars to Caution: Canadians Pump the Brakes on Spending

Uncertain times during tariffs is changing some of the spending habits of Canadians.

Licensed Insolvency Trustee with with MNP Caryl Newbery-Mitchell chatted with us as studies have found many people are holding off on large purchases and being mindful of where they put they money.

Those car payments can add up though.

One thing she has seen in urban areas where public transit is easily accessible is some people decided to simply cut the car in order to save.

She said this tariff situation does loom over a lot of individuals.

This means until a deal is reached, a lot of those big purchases may remain on the backburner.

We will be talking further with Newbery-Mitchell regarding insolvency in the near future