Canada Nesties
Divallyn
member
Dear Community,
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
60 % of Canadians live paycheque to paycheque?
I heard this statistic when I was watching the new this morning during my workout.
I find this very surprising. Do you?
Technically speaking my H and I live like this but thats because we purposely drain our account into savings after all the bills are paid and needs are bought. We are agressive savers and lead somewhat frugal lives because we have alot of dreams. But if one of us went without a paycheque we would be more than fine as we have emergency fund to get us through rough times. So I am assuming this stat means that 60% of Canadians would be hooped if one of their paycheques dissapeared. I find this really high. I was thinking this number would be around 25 to as high as 40%.
Warning
No formatter is installed for the format bbhtml
Re: 60 % of Canadians live paycheque to paycheque?
When I think of living paycheque to paycheque I think that it means that if you did not get a paycheque then you would not be able to afford to pay any bills etc. To me it means that you have no savings at all.
Considering that, I don't feel like we live paycheque to paycheque, because we would be able to pay our mortgage, etc. for a few months while we look for a job. However it sounds like most people consider that still living paycheque to paycheque, so I guess we do.
Rasberry Bride, I agree, I think living paycheque to paycheque means that if u didn't get one of your paycheques that you wouldn't be able to pay your bills etc.
If one of you got laid off and you can still pay your mortgage for a bit I don't think that means that you are part of this statistic.
My H and I try to live like we do live paycheque to paycheque in order for us to save more but we do so out of preference not out of need.
I agree with the definition that it means that you have no savings and if you didn't get a cheque or it was late that you would not be able to pay your bills/buy groceries etc etc.
This stat really surprised me. I wonder if it is higher now due to the economy? It would be interesting to see what the number was say 5 years ago.
After Joe being laid off for so long a few years ago we learned that we can live off of their of our salaries. We also have enough in savings to sustain us for close to a year if we both lost our jobs.
I guess I'm a little bit surprised, but only a little.
We're living paycheque to paycheque in the sense that we do not have enough money to increase our savings right now, but we do have savings, so I guess we wouldn't be part of that statistic.
(We had a decent cushion to fall back on until last week, when we had to foot the bill for most of my FIL's funeral. When the dust has settled, we might have about two months' worth of living expenses left. Maybe.)
My in-laws -- DH's parents and all three of his siblings -- are all financial disasters.
I'm not 100% surprised by this statistic. There are many people who live well above their means, and who don't plan for the future or are unable to because they just don't make enough money to do so.
We would be able to survive off DH's salary, but not mine alone. However, we have enough in savings right now probably to cover us for a few months if we were both out of work.