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Congratulations Canada - A New Record! (pg. 2)
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View this Thread in Original format
| dEsidEL |
| quote: | Originally posted by DigiNut
It's official, Canadians are the working poor. Either that or we can't keep a budget. Probably both.
The Personal Savings rate according to StatsCan at the end of the third quarter of 2004 was zero. Yes, zero. Zilch. Nil. Nada. Diddley squat. A big fat honking nothing.
That means the average Canadian spends every dollar he earns and is just a whisker shy of being in debt. Or, put another way, there are as many Canadians in debt as there are who have money put away. This is the lowest figure we've seen since 1936.
Don't fret folks, our economy is doing great! ;)
Sources:
Statscan: http://www.statcan.ca/english/Pgdb/indi02a.htm (last item in 1st table)
Related article: NP: Economic Growth Slows Down |
wow this is interesting .. i can't remember the last time u started a thread .. :D
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| Crazy Serb |
| quote: | Originally posted by tw1tch
Self employment, screw EI! :p |
yep... and somewhat screw income tax as well, since you have somewhat of a control over that as well ;) |
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| tw1tch |
| quote: | Originally posted by Crazy Serb
yep... and somewhat screw income tax as well, since you have somewhat of a control over that as well ;) |
Trying to keep it under 25% this year. :D |
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| TrueToTheCrew |
| quote: | Originally posted by rabbitjoker
Don't forget - the Federal Gov't rapes us with EI premiums, even though the EI account is over-funded by 10s of billions of dollars. |
The feds have taken about 40 billion dollars from EI revenue.
7 years of balanced books my ass. |
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| StereoPrincess |
EI insurance is not too bad for some people.
When my parents were switching jobs and trying to get settled in the country the EI premiums they paid into and then received back saved us from livin on the street. |
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| Pettiscool |
| your missing the point thou margs |
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| drgoodvibe |
| You can't blame the government when people control how much money is in their pockets. Sure we get taxed to definitely there by reducing the amount you have in your pocket, I completely agree there. We all want to see more money in our pockets. But remember we have a highly consumerist economy, people are encouraged to spend everything and even go a little into debt. Why is consumer spending so important in an economy? If people stopped spending and started saving what would happen? You want to lower your taxes? Start a business, or buy assests..there are so many tax breaks it's incredible. |
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| StereoPrincess |
| quote: | Originally posted by Pettiscool
your missing the point thou margs |
well the point of the original post yes. but i'm just positng my thought on EI.
as for the savings crap. let me tell you, i by myself bring the average down. i live of debt and i hate it. |
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| Durafei |
Been in debt for the past 4 years.. At the same time, I rarely refuse myself when I want to buy something.
Soo... being in debt isn't so bad.
PS. I don't understand why people don't like owing money to the bank. Bank PROFITS from you! They like giving you money! And generally, accepting money isn't such a bad thing ! |
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| Crazy Serb |
I don't like owing money to anyone, because most of the time it involves interest... and paying more than I should be for anything is just not cool in my books.
Thank God OSAP is interest free... ;) |
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| Durafei |
| quote: | Originally posted by Crazy Serb
I don't like owing money to anyone, because most of the time it involves interest... and paying more than I should be for anything is just not cool in my books.
Thank God OSAP is interest free... ;) |
Are you going to ever buy a house ? |
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| alexmorlo |
| According to a survey done by Ipsos Canada, 75% of Canadians have less than three months worth of savings in the bank and 42% admit to having no ‘rainy day’ money. |
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