Well, we’re in peak summer in the northern hemisphere. It’s hot, very humid and the air conditioners are running for those who have them. It’s not comfortable, it is climate change. 

Now, hydro costs are going to go up because I am not going to tell you to not run your AC if you have it because it’s dangerously hot outside. RIP our increased hydro bills. 

Speaking of money.

Why does summer feel so much more expensive than winter for those who live in four-season countries? I’m not going to write a newsletter on how to save money during the summer because I’ve already done that. Instead, let’s look at the behavioural reasons.

How to rein in your summer spending

It’s actually not just a feeling. A Fig Financial survey found that Canadians' social lives increase 62 per cent in the summer, with 60 per cent going out at least once a week. That’s compared to 37 per cent in the winter. 

So weather definitely plays a part here. It’s easier to plan and have more outdoor events in the summer because of the weather. Part of it could be that summer mindset. We’ve all had that school’s out feeling, the freedom, the potential, the events and the heat. You’re relaxed, you have plans, you’re with friends and you overspend. 

Then there’s FOMO. You see pictures of your friends or complete strangers on social media having an amazing time doing something. Probably pretending to have a European summer. Yikes, the pressure to have all that linen. 

Algorithmic pricing is going to SUCK for singles

We’re also bombarded with messaging that everything has to be an experience. I’m not denying that experiences are good but does everything have to be an experience? Me meeting a friend for a walking or errand date isn’t an experience except in the sense that I’m experiencing something: friendship and sweating. 

If everything can be justified as an experience, then we can justify spending the money. You see where I’m going here. An experience, in this context, is not something that happens every day. It’s occasional. Treating it that way means it gets a bit more difficult to justify spending the money. 

Now personally, I’ve upped my walking and errand dates. I’ve done this with a friend for a while but now I’m doing it with more friends. I’m reading more because holy god, my attention span is so short and I need to get it back to where it was.

Spite is not a retirement plan but it can help

I’ve been hanging out in the parks, public events and galleries. Websites like Toronto Fun Guide and Eventbrite (use the “free” filter) are goldmines. I saw a dance party and dragged my friend Gail along with me. It was fun. 

I also want to shout out Maryam Siddiqi’s newsletter: Property of Toronto, which spotlights the things to do in Toronto. Not all the events are free but a lot are. For everyone who says there’s nothing to do in Toronto? 

Liars. 

So now that we know that summer feeling, FOMO, social media and the sun can contribute to overspending, it might be easier to pick and choose how and where we spend money. Also, please don’t glare at the sun as a result. Ruining your eyesight costs money.

Some fun stuff about summer and money: 

A recent TD survey found that 48 per cent of Canadians who received a summer wedding invitation say cost has impacted their decision to attend and 18 per cent have already said no to an invite due to cost. You might be thinking that staying home is the answer but points up hydro costs. 

I went looking for stats on the number of summer events versus winter ones and while I didn’t find anything specific, I did find Hot sun and summer fun from Statistics Canada which had some fun data like in 2022, 224 590 tonnes of fresh watermelons, 116 480 tonnes of fresh strawberries, and 37 330 tonnes of fresh peaches were available for consumption in Canada. (Also, reminder that it was still COVID-19 times, just two years after the first vaccines.). And we liked hiking and backpacking which were the most popular outdoor activities in 2021. 

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I’m still looking for your most unhinged piece of advice for single people.respected elder singles (I include myself in this), what are your most unhinged pieces of advice you’d give a younger single person now? It doesn’t have to be just about money. It could be anything, like, play a recording of a dog barking so burglars think you have a big, bad dog. Yes, that was a piece of advice I was told. The problem is, my building doesn’t allow dogs.

We already know about investing, paperwork, and emergency funds. I want to know the oddest, funniest, weirdest advice you’ve been told that worked or you’ve learned. Couples, you too. What were you told when you were single?

You can respond to this email, post in the comments or message me. Let me know how I should credit you and I’ll post it in a future article.

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Now that we’re post Canada Day and US Independence Day, we have some elbows up stats from TD Canada that are still relevant in light of what’s happening politically. 

• 76% of Canadians planning to travel intend to stay within Canada, with 55% exploring their own province and 41% travelling elsewhere domestically

• 79% plan to support local or Canadian businesses this summer 

• 48% say their desire to support local businesses is stronger than last year 

Canadians are also supporting local by buying Canadian‑made products (48%), dining locally (41%) and shopping at independent retailers (32%).

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This week’s readings: 

Shocker. Don't rely on AI for personal finance advice, study finds (CNBC)

ChatGPT's Personal Finance Tools Raise Privacy Concerns as Users Link Financial Accounts (Investopedia)

What Is the Average Investment Portfolio Size for People in Their 30s and How Does It Compare? (Investopedia)

I appeared on the Too Much podcast with Denise Love Hewett to talk about the Singles Tax. I’m only now promoting it as I got a horrible summer cold. (Too Much with Denise Love Hewett.)

Tacky? Sure, but we hope you forgive us (The Cut, paywall)

I wrote this for my other newsletter: How to be a good plus one

And I’m supporting Norway.