As we approach the first day of summer later this month, we look forward to longer days, nicer weather and our favourite outdoor activities with friends and family. A recent study suggests that Canadians plan to spend more money on experiences this summer, including outdoor recreation (of which Nova Scotia offers a variety) and travel. With summer plans on the horizon, it’s time to evaluate your financial goals. Whether you’re saving up for vacation, school or home repairs, at CUA we know the value of financial planning.

Many Canadians are now recovering from the early days of the pandemic; in February, the unemployment rate dropped below its pre-pandemic level, signaling a long-awaited turning point. However, even with a decrease in unemployment, rising interest rates are continuing to impact our financial decisions. In addition, with Canada having hit a 30-year high of 6.7% inflation in March, Nova Scotians are feeling the impact of rising costs in their borrowing and spending decisions. Balancing summer fun with savvy saving is a key factor to keep in mind over the coming months.

Our team at CUA offers many resources to help our members, and we can provide you with the right tools to get ahead. For example, a Tax-Free Savings Account is a great way to save up to meet your financial goals. If you plan on taking a vacation this summer, consider CUA’s Travel Rewards Gold Mastercard to earn rewards which can be redeemed for flights, hotel stays, cruises and more. Summer is also a popular time to take on home renovation projects, and CUA offers a Home Renovation Loan to help turn your dreams into reality.

On a separate note, each June CUA celebrates Employee Appreciation Week to acknowledge the work that our incredible team puts into helping our members reach their full financial potential. I would like to take this opportunity to recognize the entire CUA team for their ongoing commitment to our members.

Moving forward into the summer season, let us remember to consider both budgeting and savings goals. If you have any questions, you can connect with a member of our team online, by phone at 902.492.6500 or via email at info@cua.com.