Reopening | How to Avoid Excessive Post Phantomic Costs

As health restrictions become easier and more people are vaccinated, many Canadians are eager to make up for the time spent.

Leah Golob
The Canadian Press

The phrase “the cost of revenge” is catching on, indicating that some are interested in triggering consumer goods or experiences that were forced to give up last year.

In the United States, where deregulation is faster than in Canada, most spending is on beauty and nail salons, sporting goods stores, restaurants, clothing stores and retailers. According to the latest report by TOP Data on Car Dealers, Post Phantomic Recovery

The phrase “revenge cost” is new to Liz Sheikh, a certified financial planner at the New School of Finance in Toronto, but this is an event she is familiar with, especially when talking to independent experts. And seasonal workers who experience income fluctuations throughout the year.

Whenever a deficit period ends, “Woohoo, we’re going to spoil ourselves! I like to do a lot of fun things! ”. It is a natural reaction to not being able to do anything.

Liz Schick, financial planner

While all population groups feel the need to celebrate and spend, it can be triggered by the feeling that young people in particular have been robbed of precious time, continued Mr.^Me Skeek.

“It’s time they want to go out, they want to go to pubs, they want to go to concerts, they want to take a lot of trips, they want to see their friends. A lot of people are so social at this time of their lives, they missed it, it made sense.”

Allie Fly, a 31-year-old employment consultant from Toronto, can’t wait to dine with friends, have cocktails at her favorite bars, attend concerts, visit museums and galleries, and see friends and family in Ottawa when they last get there. Second dose of Pfizer vaccine.

“When it’s safer to go out more, I’m certainly be wary of the possibility of doubling my expenses, for example, if I have my infectious habit, I will spend more money on groceries and online shopping,” he said.^Me Fly.

“If I do, I can use my extra savings to cover these costs, rather than having a little mattress or investing a certain amount.”

More opportunities to go out and celebrate

Avni Shaw, an assistant professor of marketing at the University of Toronto and a research colleague at Rodman, noted that when people get a job promotion or celebrate a birthday or holiday, they tend to spend more, but there is a clear deadline for those costs. School of Management.

“It’s an interesting event, a little more dangerous than regular events, when it’s not linked to an event,” he said.

Now, people have to spend when they are fully vaccinated, when a partner is vaccinated, when every good friend is vaccinated, and so on.

“The more opportunities there are to go out and celebrate, the longer it lasts,” Ms.^Me Shaw, this increases the chance of getting on the ship while spending.

M advice^Me Shaw is a deliberate choice when it comes to spending, especially when it comes to material goods. Make a list and ask, “What do you like most about me?” When Means control measures are removed.

“It is better to deliberately research these items than to buy impetus, which can lead to problems,” he added.

This tactic can also be applied to social and group experiences such as parties with friends.

For experiences outside of that, it is best to look for cheaper options, like a drink at a happy time, he is an example.

M^Me Shaw and M^Me Both recommend creating a budget to determine how much money should be allocated for personal services, consumer goods, large ticket items (such as travel) or experiences with friends, family or acquaintances.

“Because it’s easy to forget [dépenser de l’argent pour sortir] COVID has not been in our budget for so long, ”he said^Me Shaw. “It simply came to our notice then. ”