​These families’ financial resolutions help them save as costs climb 

From a Calgary widow with a hockey playing daughter to a family selling their home, 2025 is the year to rethink money managementPublished Feb 12, 2025  •  5 minute readMillions of Canadians are rethinking their spending in 2025 as costs continue to climb and stretch family budgets. Photo by Getty ImagesReviews and recommendations are unbiased and products are independently selected. Postmedia may earn an affiliate commission from purchases made through links on this page.Calgarian Zahra Khakoo is imposing a 24-hour rule as one of her 2025 financial resolutions.Article contentArticle contentThe widowed single mother said it’s easy to be tempted by fashion influencers on social media, and to instantly make online purchases that quickly add up.Khakoo is hoping that waiting a full day before clicking the checkout button will help her weed out spur of the moment purchases and focus on things she really needs.Advertisement 2Story continues belowThis advertisement has not loaded yet, but your article continues below. View more offersArticle contentIt is one of several steps Khakoo, who has a 15-year-old daughter, is implementing as she looks for ways to regrow her savings after a setback. Cutting down on the use of overpriced food delivery apps, rebuilding her emergency fund through regular contributions and creating a dedicated hockey fund for her daughter are among the others.Khakoo is one of millions of Canadians who are rethinking their spending in 2025 as costs continue to climb and stretch family budgets. Data released by Statistics Canada recently showed that average annual inflation was 2.4 per cent in 2024, down from 3.9 per cent a year earlier but still higher than the Bank of Canada‘s two per cent target.Financial resolutions are one tool families can use to take control of their money, said personal finance expert Kelley Keehn, who co-founded the Moneywise Institute. But sticking to them requires a roadmap.Families thinking about financial resolutions should start by defining their goals — whether it’s travelling, buying a home or having a child — before digging further into their financial status, such as assets, debts and net worth, she said.Top StoriesGet the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.We encountered an issue signing you up. Please try againArticle contentAdvertisement 3Story continues belowThis advertisement has not loaded yet, but your article continues below.Article contentImpulse spending, which Khakoo targeted among her resolutions, is a common problem, especially in an era when people are bombarded by email deals and social media posts from algorithms that intimately know your browsing habits, Keehn said. She recommends unsubscribing from marketing emails and newsletters, taking a break from social media and leaving more expensive items waiting in online shopping carts — Khakoo’s 24-hour rule. Impulse spending is a