Gas costs rising

We shelled out more for gas in June and it’s going to get worse. Why McDonald’s budgeting tool is drawing ire and more.

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  • Higher prices at the pumps drove inflation up in June by 1.2%, Statistics Canada said Friday. And the worst is yet to come. Expect gas prices to continue their ascent in the short term due to the weakened Canadian dollar and lower U.S. reserves oil, experts say.
  • McDonald’s is coming under fire for creating a useless budgeting tool for its U.S. employees. The problem, according to critics, is that an average restaurant worker doesn’t make enough money to cover the basic costs of living assumed in the tool.
  • It might be only mid-July but the back-to-school flyers are already in the mail. And since clothing and supplies for a new year can be costly, it’s best to plan ahead. Here are Consolidated Credit’s tips for parents: -Make a list of everything your kids will need when classes start in September.
    -Shop at home first. Look through last year’s supplies to see what can be reused and recycled.
    -Comparison shop online and in flyers to get an idea of how much your back to school shopping will cost.
    -Put aside a little money each week, or each pay period. This will help you cover the cost of back to school without having to rely on credit cards.
    -Keep an eye out for sales. If an item from your list goes on sale for a great price, pick it up now instead of waiting until the last minute.
    -Have your kids pitch in on ‘big ticket’ wants. If they absolutely have to go back to school with a new iPad or Tablet, set a budget and work on these savings together throughout the summer.
    -Use your back to school planning as an opportunity to teach your kids about money. After all, most of your back to school purchases are for them.

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