The recession may be officially over, but six in 10 Canadians are still surviving from paycheque to paycheque, a national survey showed Monday.
Fifty-nine per cent of Canadian workers say they would be in financial trouble if their paycheque was delayed by just a week – the same proportion as last year when the economy was still mired in a downturn, according to a poll of 2,766 people by the Canadian Payroll Association.
The survey comes as the OECD today warned that record high debt levels have left many Canadians vulnerable “to any future adverse shocks.” Also Monday, a Statistics Canada
report showed household net worth fell 0.6 per cent in the second quarter, largely due to falling stock markets. Liabilities of households increased, meantime, led by mortgages and consumer credit.
Canada remains a debt nation, owing partly to a flurry of home-buying in this year. Eight in 10 Canadians in the poll say their first or second priority if they were to win a $1-million lottery would be to pay off their debt – an 11-per-cent increase from last year, “indicating that more Canadians are concerned about their debt load than they were a year ago,” the survey said.
Some Americans do not live paycheck to paycheck.
ReplyDeleteBut Many "Real American" Debt Peons now live only from payday loan to payday loan ,
and supplement their incomes on Food stamps or by family income subsidies from the governments printing press .
How do you expect people to live any other way when you steal most of their money in the form of taxes, fines, license and permit fees? The only people that don't live paycheck to paycheck are those that have their own businesses and under report their earnings.
ReplyDeleteI agree with 10:25 up to a point...I see many idiot with no food or in need but they HAVE cable TV, beer, junk food, house full of useless junk that was expensive...I was like them till I saw the light back in 2004.
ReplyDeleteSometimes we have to be smacked by reality to change our ways.
Exercising...Cooking healthy food...Cleaning...Reading and learning don't take much money and they'll prep you, make you stronger and make you happy.
I have no cable, no newspaper/magazines subscriptions, no cell phone,no tv, no ipod or any other fancy electonics. I have a 5 year old computer and a 12 year old car I don't drive.I grow my own vegs,shop second hand stores for my clothes, take the bus, I don't drink or smoke or do drugs. I haven't had a holiday in 12 years. I don't owe any credit cards etc just my mortgage. I work 40 hours a week.I live pay cheque to pay cheque. Why? Because I am taxed to the hilt by governments that are too busy bailing their wealthy friends' companies out of debt and giving themselves huge raises and benefits. Because they are sending $40 million worth of aid to a country that is in league with the Taliban while our soliders are fighting them. Because if I went bankrupt I would have nothing left but they go bankrupt they just walk away from their company and start all over again having kept everything they own.
ReplyDelete