10 financial buzzwords we kept hearing in 2024
These 10 words and phrases captured 2024’s financial mood. From coffee badging to underconsumption-core, these are the trends on Canadians’ minds.
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These 10 words and phrases captured 2024’s financial mood. From coffee badging to underconsumption-core, these are the trends on Canadians’ minds.
In 2023, we heard a lot about “soft saving” and “quiet hiring.” In 2024, job-related buzzwords continued to trend, with plenty of chatter around “coffee badging,” “resenteeism” and others. Below, we discuss these and other money-related terms that stood out to the MoneySense editorial team, along with recommended reads to help you get a jump on personal finance in 2025.
A “hush trip” means working remotely from a holiday destination without telling your employer you’re out of town. Also called a “hush-cation,” these clandestine trips allow workers to enjoy themselves somewhere nice without using up vacation days or risking a “no” from their boss for a vacation request. At least one enterprising hotel chain has jumped on the trend, encouraging would-be guests to mention “hush trip” when booking and to “leave the rest to us.” Perks include business services, all-day barista coffee and 5 p.m. knock-off drinks. Not surprisingly, hush trips are controversial in the HR world, with some experts pointing out the potential complications for employers—tax, legal and otherwise—if staffers work outside the country for extended periods. —Jaclyn Law
With post-pandemic calls for employees to return to the office more often, some hybrid workers have resorted to “coffee badging,” the practice of showing up just long enough to ring in their security badge and maybe enjoy a free cup of coffee over a casual chat with co-workers—ideally in view of the boss—before high-tailing it back home, where the real work gets done. —Michael McCullough
Employers’ efforts to lure remote and hybrid workers back to a common workplace have not been all stick and no carrot. Some companies have engaged in “office peacocking”—renovating their workspace to make it less of a place of drudgery. Favourite interior design motifs include staff lounges with sectional sofas, video-game monitors and lots of greenery. —M.M.
Onto the age-old problem of absenteeism was layered “presenteeism”—being physically at work without being engaged. Now we have “resenteeism,” which is continuing to toil at a job, out of financial necessity or lack of imagination or both, while being openly resentful about it, to the point of poisoning workplace camaraderie and collaboration. Younger workers may claim to have invented the phenomenon, but it’s afflicted a subset of frustrated office workers since forever. —M.M.
In spite of the federal government’s recent efforts to improve housing affordability (including the first-home savings account (FHSA), Home Buyers’ Plan expansion and recent mortgage rule changes), Canada’s exorbitant real estate prices have all but shut the door on many would-be home buyers, particularly in the cities of Toronto and Vancouver. But the dream of home ownership remains as Canadian as maple syrup, and some first-timers are getting on the property ladder by “rentvesting.” This strategy entails renting a home or apartment in your preferred location (generally, a major city) while simultaneously owning and leasing out an investment property in a more affordable area of the country. Rentvesting is sometimes advertised as a shortcut to home ownership, with the added benefits of capital appreciation and rental income. Just be mindful of the potential capital gains tax implications. —Justin Dallaire
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@alicechae I’m frugal and I’m proud 🥹 #underconsumption #budget #budgeting #lifeinyour20s #twenties ♬ original sound – speedz!
All words have synonyms. And “underconsumption-core” is no different. It’s the same as “recession core” and “conscious spending.” And if you haven’t heard of those, then “budgeting” may hit home better. Essentially, TikTokers and Instagrammers are responding to the rising prices of everything by spending less money, but proudly and loudly. It also has an environmentally friendly twist, because there’s less waste. So, if this is something that we all do when money gets tight, why the buzz around underconsumption-core? It’s because it’s also a response to viral social media trends and shopping haul posts. Gen Z and Millennials partaking in underconsumption have had enough with influencer marketing and influencer culture that tell them what they need to buy. —Lisa Hannam
@girl_on_couch Can someone make this into an actual song plz just for funzies
♬ original sound – Girl On Couch
“I’m looking for a man in finance. Trust fund. Six-five. Blue eyes.” @girl_on_couch, a.k.a. Megan Boni, is the New York–based TikToker who recorded that “man in finance” earworm back in April. She captioned her 19-second video “Did I just write the song of the summer?” And briefly, it was. Several DJs remixed her viral song sample, and Boni went on to record a version with superstar DJ and record producer David Guetta. So, did she get her guy? In an interview with the BBC, Boni admitted she wasn’t really looking for a man in finance: “I doubt we would work.” —J.L.
It’s not a clinical diagnosis, but “money dysmorphia” might affect your well-being all the same. Depending on where you look, the term is defined either as unhappiness about one’s financial situation or an irrationally distorted perception of what that financial situation is (you’re financially stable but constantly worried you’re not). Money dysmorphia, particularly among millennials and Gen Z, became a hot topic on TikTok and other social media platforms in 2024, generating much-needed conversation about money and mental health. —J.L.
Carry trades aren’t new. In fact, the investment strategy has been linked to multiple periods of low interest rates, including 1999, 2008 and 2013. And, of course, in August 2024, when bond and currency investors around the world borrowed Japanese yen at very low interest rates. The goal of a carry trade is to profit from differences in interest rates with other assets. The MoneySense Glossary uses this perfect example for the carry trade definition: “Imagine you’re a kid, and you borrow $5 from your mom to loan it to your brother and charge him $2 interest.” However, this year, when the Japanese Central Bank began raising its interest rate, investors en masse sold their stocks to repay the loans for fear of even higher interest. That caused stock markets to fall. What happened next? —L.H.
Read: “Why did the stock markets fall?”
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Guess what: The financial pressure you’re feeling from high food prices, rising housing costs and an uncertain labour market (to name a few) is all in your head—the economy is doing great! That’s not an attempt to be glib. The term “vibecession,” coined by American economist Kyla Scanlon (and invoked by former finance minister Chrystia Freeland in 2024), refers to a general mood of unease and exhaustion among participants in the economy. While people may feel negatively about their finances and the economy, common economic indicators, such as gross domestic product, inflation and unemployment rates, present a more positive outlook. —J.D.
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