Latest news with #financialstrain
CBC
a day ago
- Health
- CBC
Bills mounting for family of young N.S. woman in ICU after second lung transplant
In the weeks leading up to her daughter's second double lung transplant, Lisa Ali of Cole Harbour, N.S., said she was scared to answer the phone, unsure of who would be on the other end. For more than a year, she and her 20-year-old daughter, Tahlia Ali, had been living in Toronto waiting for the life-saving surgery that is not available in Nova Scotia. That wait comes at an out-of-pocket cost for Nova Scotians — once a patient is put on the transplant list, they must move to Toronto, wait for their match, and stay for months post-surgery to recover. "I was living off my credit card and I had no way to pay it," said Lisa Ali in an interview. "I'm waiting for phone calls for lungs, but the only people that are calling me is creditors." The Alis are one of three Nova Scotia families who have spoken to CBC News in recent months about the financial devastation they have faced while waiting for their loved one to access lung transplant surgery in a different province. The Ali family said a lack of financial support from federal and provincial governments has created an immense strain during an already fraught time. One month after her most recent transplant, Tahlia Ali remains in intensive care. One of the lungs didn't take and had to be removed. "She has a lot of complications from this surgery this time around that we were not expecting," said her grandmother, Judy Robichaud. "We were expecting by this time she'd be out of ICU ... But even the doctors don't know what to expect. They're taking it one day at a time." 1st transplant in 2020 Tahlia Ali was diagnosed with pulmonary hypertension when she was seven. At the time, the family was told the condition was fatal and the only treatment was a lung transplant. She had her first transplant in 2020, when she was 16. Her family was just getting back on their feet in Nova Scotia when she developed new issues, and learned she needed another transplant. "Tahlia, right now, she's fighting," said Robichaud. "We have to go the distance because she is." Adding to the strain is the issue of money. Lisa Ali said most people don't realize that a condition of being on the lung transplant list is to have a full-time caregiver. That person cannot work, as it's their job to get the patient to the hospital for multiple appointments a week, and make sure the patient gets all of their medications. Ali thought she would qualify for employment insurance caregiving benefits when she left her job to go to Toronto, but she was shocked to learn she was less than 10 hours short of qualifying. A statement from Employment and Social Development Canada said she could have appealed that decision, but needed to do so within a 30-day window. Ali said she was overwhelmed, as she had just days to move out of her rental home, find a place to live in Toronto and get to her daughter's first appointment. "I was like, 'I don't have the energy to appeal that,'" she told CBC News. While Nova Scotia offers an allowance of $3,000 a month to families who have to live out of province long term for medical treatment, that only covers the family's rent in Toronto. Ali estimates she's racked up $20,000 in debt covering additional expenses. Now that her granddaughter is facing serious complications, Robichaud expects it will be another year before they get home. She said people have been rallying behind them, offering what they can to help make ends meet. On Saturday, Colleen's Pub in Dartmouth held an event for the family, bringing in more than $5,000. "I don't know how they would be able to manage up there if it wasn't for our family and our friends hanging in there with us and helping to support what's happening right now. I'm just unbelievably grateful for them," Robichaud said. Robichaud and Lisa Ali said both the provincial and federal governments need to do more to help families like theirs, and they plan to work with other Nova Scotia families who are advocating for change. Health Minister Michelle Thompson told CBC News last month that she sympathizes with families who are in similar situations, but said the health-care system is stretched in many directions and the department has to make tough choices. She said Nova Scotia is unique compared to other provinces because it covers some of the travel expenses of the support person who must go with the patient. "We'll continue to review that program, to hear from people. We want to be responsive," Thompson said at the time. "But it isn't a cost-recovery program and we also want to maintain the integrity of the entire system, and I know that's difficult."
South China Morning Post
a day ago
- Business
- South China Morning Post
Malaysia unveils one-off cash handout, fuel subsidy in bid to calm cost-of-living anger
Prime Minister Anwar Ibrahim has announced a sweeping relief package aimed at easing the financial strain on millions of Malaysians, as his government confronts mounting anger over surging living costs and new taxes. In a special address broadcast on national television and social media on Wednesday, Anwar pledged a one-off payment of 100 ringgit (US$24) to all Malaysians aged 18 and above. The cash handout, timed to coincide with National Day on August 31, is expected to reach around 22 million people and cost the government approximately 2 billion ringgit (US$472 million). A money changer counts Malaysian ringgit banknotes in Kuala Lumpur. Malaysia's new cash handout is expected to reach around 22 million people. Photo: AFP In a further move to soothe public frustration, Anwar said that from September, about 18 million motorists would be eligible for subsidised RON95 petrol at 1.99 ringgit (47 US cents) per litre, down from the current price of 2.05 ringgit. It was not immediately clear how the reduced price would affect the government's longstanding commitment to overhaul Malaysia 's costly fuel subsidies. 'The government remains committed to its plan to restructure RON95 petrol subsidies … the government gives its guarantee that the public will not be affected,' Anwar said on Wednesday. The announcements come as Anwar's administration reaches the midpoint of its term, with public support wavering in the face of sweeping subsidy cuts and the introduction of new taxes on imported goods . Many Malaysians have reported growing financial hardship, intensifying pressure on the government to act. By unveiling direct financial assistance and targeted fuel relief, Anwar is seeking to shore up confidence in his leadership and deliver immediate support to millions grappling with the rising cost of living.
Daily Mail
4 days ago
- Business
- Daily Mail
Young Americans are risking their most valuable asset with dangerous financial move
Gen Z Americans are skipping insurance claims and performing critical home repairs themselves as costs soar. One in three young homeowners - those born between 1997 and 2012 - say they are skipping insurance claims out of fear their homes will not pass inspection, according to new data from insurance agency Guardian Service. Instead two in three are opting to take on major home repairs themselves to save money. 'Many homeowners are living on borrowed time and borrowed trust, we're seeing financial strain and home safety come head-to-head,' home insurance expert Kara Credle from Guardian Service told Credle says a dangerous 'knowledge gap' is fueling the trend. Many homeowners don't realize that avoiding vital repair work such as roof work could make their home insurance premiums more expensive and even cancel their coverage, Credle warned. 'Homeownership is no longer the financial safe haven it used to be.' Some 71 percent of homeowners are unaware that making home upgrades can lower insurance premiums, the data revealed. Gen Z are taking on major home repairs themselves to save money With many Gen Z homeowners one emergency away from financial disaster, these findings point to systemic risks for the housing and insurance markets. Millions are living in under-maintained homes, quietly hiding what's behind the walls while hoping nothing goes wrong. Gen Z currently make up just 3 percent of all homebuyers in the US, according to the National Association of Realtors (NAR). Gen Z are burdened by large student loans as well as sky high rents, leaving little income left over to save towards the costs of homeownership. 'Two-thirds of homeowners had their renovation budgets wiped out in 2025,' Credle added. 'This is a sign that we've moved beyond belt-tightening into financial survival.' At the same time house prices have rocketed to new highs, rising roughly 50 percent since 2020. Mortgage rates, which remain stubbornly high at around 7 percent, also make monthly payments too much for many younger workers. The median home price in the US is also more than $403,000, making a 20 percent deposit a tough ask for many too. 71 percent of homeowners are unaware making home upgrades can lower premiums 'The cost of homes is substantially higher than it was for previous generations, and you may not see as many starter homes being built or becoming available,' Nikki Beauchamp, from Sotheby's Realty, told Fortune. 'Add to that the student loan debt, and in general, it has been my observation that as a result they have much higher debt than my generation [Gen X] did at that age.' To add insult to injury, baby boomers are further pricing Gen Z out of home ownership by swooping in with all-cash offers and bigger down payments. With decades of savings from low mortgage rates, boomers have overtaken Millennials, Gen X, and Gen Z in home purchases. For young families who still want to make a go of home ownership, help from the bank of mom and dad is a popular solution. For others the option is to move to a more affordable area, such as Wichita, Kansas, which was recently named the most affordable US city.
Fast Company
7 days ago
- Business
- Fast Company
Would you skip dinner to buy a backpack? 54% of parents say yes
While back-to-school shopping is certainly an end of summer expense that many families dread, this year is shaping up to be even more financially straining. Binders, backpacks, calculators, and even laptops (which about 94% of high school students use), definitely don't come cheap. This year, the stress over having to purchase the items seems to be mounting higher than ever. According to a newly released Intuit Credit Karma report, which surveyed 1,022 parents with at least one school-aged child, more than a third (39%) said they can no longer afford the back-to-school shopping trip. Likewise, 44% say they'll have to take on debt to pay for the school supplies for the 2025/2026 school year. That figure has jumped by 10% (from 34%) in just one calendar year. The data around back-to-school shopping gets even more concerning, too. According to the report, more than half of parents (54%) say they will need to sacrifice on essentials like groceries in order to get their children the necessary school supplies. And a large portion of parents—45%—say they can no longer afford after-school programs, sports, or other extracurriculars. 32% even said they're considering leaving their jobs or trimming their working hours to care for their kids after school pickup. Courtney Alev, consumer financial advocate at Credit Karma, spoke to the financial strain families are feeling this year in a press release. 'Back-to-school shopping can place a significant financial burden on families, often leaving them with little choice but to stretch their budgets,' Alev said. In particular, parents seem to be worried about how expensive items have gotten. 60% said that skyhigh prices on items is the reason they will struggle with shopping lists this year, with 38% revealing they expect to spend between $501 to $1,500. According to a new Deloitte report, they aren't far off. While prices on items have gone slightly down since last year, back-to-school spending for K–12 students is massively expensive, costing parents $570 per child on average, or around $30.8 billion total. Adding to parents' expenses are their kids' own list of 'must-haves,' or, nonessential items they see on social media and sometimes feel (because it appears online like everyone has them) are necessary commodities. JellyCats and Labubu Dolls are particularly huge this year. And 51% of parents say their kids are begging for trending items. More than half (54%) say they do feel pressured to get their kids the items their IRL friends or social media friends have, too. Alev urges parents to trim what they can, staying away from buying the nonessential trending items, saying, 'consider using it as an opportunity to have a thoughtful, age-appropriate conversation with your kids about money, teaching them the importance of budgeting and prioritizing needs over wants.'
CTV News
14-07-2025
- Business
- CTV News
Manitobans feeling financial strain: survey
Winnipeg Watch CTV's Katherine Dow talked with licensed insolvency trustee Brad Milne about how Canadians are feeling the strain of recent interest rate pauses.
