Monday, September 13, 2010

Survey: 59% Of Canadians In Trouble If Pay Delayed One Week

  65% of 18 - 34 Year Olds
Living Paycheque to Paycheque

An article in the Financial Post today (click here to read) says a survey conducted by the Canadian Payroll Association found that 59% of all Canadians surveyed would be in financial trouble if their paycheque was delayed for even one week.

That number grew to 65% in the younger age group of 18 - 34 year olds and saving the recommended 10% is not happening with the majority of Canadians either, with about 50% saying they were only saving 5% or less.

Comment: Local council and city staff seems to think that another 25% tax increase over the next few years is 'sustainable', which may be the case if you are in their pay bracket, or fortunate enough to work for the city. However, if you work in the food service business, retail retail sector, or just part time in any field or if you happen to be on CPP, then a 25% tax increase could mean the difference between beans and rice and only rice.


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