Jump to content
The Official Site of the Vancouver Canucks
Canucks Community

More Canadians say they're living paycheque to paycheque


Grapefruits

Recommended Posts

And I might add that this "big city" was a small fishing community that I was born/raised in. So it's not like I came here as a chosen destination piont and am now complaining....this is where I've always been - it's home to me.

No one cared to be here not long ago (and I quite liked that). There were farms and canneries and now, all of a sudden, it's a "go to" destination and the secret's out. Not really sure what I could do about that?

I was basically in survival mode and, in looking back, not sure how I did. But I definitely agree about the drive and determination thing...which is why my life is slowly turning around. The thing is, single Dads are often praised and thought of as heroes but single Moms are sometimes stereotyped and stigmatized. And I experienced some of that in trying to move forward...despite having held some fairly important positions earlier in my life, opting to be a stay at home Mom when the kids were young wasn't something that helped on a Resume.

To finish this story/novel: I did train and became BCRPA certified in fitness...was on my way to becoming a personal trainer when the wheels fell off. Ten years later, after having health related issues, I had to have an immediate income when my ex and I split (it was a bad situation). So yeah - waaa. But all true and relevant.

Anyhow, it's a pretty good discussion to have. But we all have our stories and each one is different. Even homeless people are "somebodies", yet they're viewed as losers and nobodies. It's important to remember that lack of money doesn't always result from lack of effort.

Steveston used to be an industry town with lots of canneries and ship yards now its almost all gone and in ten or fifteen years,The shipping industry will be kicked out of steveston then all it will be is a tourist destination.But those jobs dont pay very well.

Link to comment
Share on other sites

It's important to remember that lack of money doesn't always result from lack of effort.

Amen to that, Deb!

Not everyone believes that vast amounts of money in one's possession is the only route to happiness & security...nor does the fact that circumstances do change in life mean that one who has had money will always be able to keep it.

I'm not interested in hoarding money to sustain the very affluent lifestyles of lawyers, bankers, & those other money-pushers out there. I live a lifestyle that sustains me & my loved ones. Sure,..I've acquired things along the way that seem to make my life more enjoyable or happy,.. and nearer life's end, I will undoubtedly part with them all. It just pains me to think how there are members of our society who believe we should all be striving to become a part of some gluttonous & uber-consuming 4-car family! Could the planet even sustain that?! Each soul will hopefully come to know what path he/she must take to be happy....& who are we (or the government) to judge that this path must include thousands,.. if not millions of dollars stored-away in some gazillionaire's bank? Living on some nice hobby farm off of the grid with farm animals & growing posterity, might suit many people quite nicely! As would having a cabin in the woods, painting & writing, baking or weaving, and venturing into town to sell one's creations in order to obtain supplies.

I hope to work in my chosen field for life...& in any capacity. Work keeps the mind alive & the body motivated & striving to stay healthy. Volunteer work is also very rewarding. I know many people who work very diligently for altruistic reasons & are not paid much, if at all, monitarily. But, they are gaining very valuable work experience through social interaction, learning some very employable skills & demonstrating their good character. It's not surprising, at all - that volunteer-work often leads to some pretty nice job offers. Believe it or not, citizens who volunteer & stick with it like a habit, frequently build-up their own kind of personal insurance for the future,... not in money - but in relationships! They will not be forgotten, nor be without caring friends, a home, or some sustenance in the future, because of it.

I'm not adverse, at all, to the financial system under-going a shake-up. I also feel more should be done within the public school system & elsewhere to encourage families to be more self-sustaining,... and teach our children the skills to be so. That's what's so whacked about our public education system. It's missing & shouldn't be losing more of the artisan/life-skills components that could be taught by hobbiests. Give hobbiest honorariums to come into the public education system & work-shop. I'm concerned that our schools, colleges or universities have become clear entities of business... other than learning. On-line education is a means whereby these businesses collect their money while providing limited services . They also create a stream of people just seeking more & more paper credentials, like vouchers, to justify entitlements to greater income or higher pensions. Is this the only incentive for acquiring greater qualifications, today? Where's the more practical assessment of students & the things that 'really' go into making the best instructors, administrators, participants or facilitators of higher-learning? With so many other possible sources of self-esteem missing from the public-education system...& with classes and testing frequently done within very tight or even suspect parameters,...students will continue to drop-out. With pharmacudical & recreational drugs so plentiful & contstantly being modelled and pushed upon our youth as entertainment, as an easy solution to "low esteem".. this is how more criminals are being created.

"You don't have money,..so you're a complete loser" is the wrong message for society & the media to be sending-out to the next generation.

"You can obtain skills in school,.. you can have respectable hobbies that are self-sustaining,.....you have your creativity,....you contribute as a volunteer in society,.. you have an unique heritage or perspective to share that increases our society's diversity ...you may or may not have lots of money, now or ever, but by demonstrating kindness, an honest effort & a good work ethic - you're winning too"....this message is better!

Link to comment
Share on other sites

Okay, fair enough. It just seems like a never ending cycle, but I guess that's the cost of living in a big city. Doesn't mean there's not people here that aren't struggling. I've had my kids(5 & 3 now) on my own for 2+ years. But I struggled through work and school & somehow kept the farm, albeit a small one of just 40 acres. But in the last 6 months, the struggle is paying off. I believe you need to have it rough, to get the drive to make a change for a better life, but in Canada anyone can. You just gotta want it bad enough. Sitting around and waiting for luck to change things does not have a high success rate.

That being said it'd drive me nuts to not be able to give my kids all they want, or not have vacations or toys. I wouldn't find being mortgage poor to be living at all. But to each their own :)

Kind of contradictory opinions, in my view.

Link to comment
Share on other sites

Here's a thing you're not considering: it's easier for a man than it is a woman in relation to what their earnings will be in many cases.

And "kept the farm" would indicate you've likely had some good fortune and things passed to you that you've managed to retain....I've had to do it all myself (even before marriage - I was the one who purchased the condo with assets and savings I had accumulated at a young age through working hard).

Wasn't going to go here (again), but... My parents both got cancer and my only sibling was a drug addict on the brink of death and needed me (at one point I recall getting off work, racing home to make dinner before going to the hospice to see Mom, then to care for Dad post chemo)...I had two elementary aged children, 3 jobs and, at the time, an ex was was totally going off the deep end and harassing me. Then my house flooded - not once but twice - and insurance abandoned me. It was a rough go - a decade of it. Add during that time I had my own health issues and ended up hospitalized and on the brink of death. It all adds up to some bad luck. Not excuses, but stuff happens. And to climb out of a hole isn't always easy...ESPECIALLY as a woman who was no longer a spring chicken. Not whining - just my reality...yours is likely different. If you had a head start consider yourself lucky, that's all. :)

My head start was getting kicked out of home just after I turned 16, so I was forced to sleep on friends couches and such, but it forced me to start logging at that age and for three years I just kind of roamed, saved money and learned to be a man. Probably not the easiest path, but it made me much stronger. And it's also a reason why I don't have much sympathy for this generation as they seem to feel that entitlement is a right.
Link to comment
Share on other sites

Not Really, I just don't understand why people grab the highest mortgage they get approved for. Ei: if they get approved for $600,000, why wouldn't they shop for something around $400,000 and have some breathing room?

People prefer their 20% credit card interest rate to buy furniture with.

Link to comment
Share on other sites

People prefer their 20% credit card interest rate to buy furniture with.

Yeah the notion of these things is rediculous to me, but my thinking is you sit on a sack of potatoes until you can afford the chair. But I dunno talking to elders it's such a crock these days. For instance my grandma said back in the 50s you buy a house in Van for $50,000 and interest rate was 1%, that meant you paid $500 interest for the duration of the mortgage. Now with compounding interest you pay for something 3x over if you have a 25 year mortgage. How the banks calculate it, is probably criminal & is probably one of the root reasons why people live paycheque to paycheque.

Link to comment
Share on other sites

Yeah the notion of these things is rediculous to me, but my thinking is you sit on a sack of potatoes until you can afford the chair. But I dunno talking to elders it's such a crock these days. For instance my grandma said back in the 50s you buy a house in Van for $50,000 and interest rate was 1%, that meant you paid $500 interest for the duration of the mortgage. Now with compounding interest you pay for something 3x over if you have a 25 year mortgage. How the banks calculate it, is probably criminal & is probably one of the root reasons why people live paycheque to paycheque.

Where do you get this from?

Interest rates are at all time lows.

The issue is that our real estate market is inflated due to foreign investment. The average Canadian can't compete with a factory owner or corrupt party member in China who makes millions off of slave labour and a lack of environmental regulation.

If the actual cost of a house should be about 60-70% of what it is. We have a situation where the people actually living and working in the community cannot actually afford to live in it.

The ridiculous cost of fuel doesn't help either. In a country with large transportation costs, an increase in the cost of fuel gets passed onto the consumer.

Edit: I re-read your post, and it's totally non-sensical. $500 over the course of the mortgage? Do you seriously believe that? That wouldn't cover the cost of the postage to send you monthly mortgage statements. Interest rates were not 1% in the 50s. And interest rates are expressed in yearly interest amounts. Here's a link to actual interest rates:

http://www.cic.gc.ca/english/resources/research/housing/introduction.asp

You can see in the 1950s rates varied between 5 and 7% per year, which is much higher than current rates, which are probably just about 3.5% (for a non-variable mortgage) on average.

For someone who claims to have an incredible working knowledge of how to work hard and make it big, you certainly know nothing about finances.

Link to comment
Share on other sites

Okay, fair enough. It just seems like a never ending cycle, but I guess that's the cost of living in a big city. Doesn't mean there's not people here that aren't struggling. I've had my kids(5 & 3 now) on my own for 2+ years. But I struggled through work and school & somehow kept the farm, albeit a small one of just 40 acres. But in the last 6 months, the struggle is paying off. I believe you need to have it rough, to get the drive to make a change for a better life, but in Canada anyone can. You just gotta want it bad enough. Sitting around and waiting for luck to change things does not have a high success rate.

That being said it'd drive me nuts to not be able to give my kids all they want, or not have vacations or toys. I wouldn't find being mortgage poor to be living at all. But to each their own :)

I think the issue is that it's not about keeping the farm. It doesn't really matter how hard your work anymore, the concept of owning a farm is out of reach for most people.

I've mentioned foreign investment, but it doesn't help that Baby Boomers are holding onto their properties longer and longer and refusing to retire.

Link to comment
Share on other sites

Where do you get this from?

Interest rates are at all time lows.

The issue is that our real estate market is inflated due to foreign investment. The average Canadian can't compete with a factory owner or corrupt party member in China who makes millions off of slave labour and a lack of environmental regulation.

If the actual cost of a house should be about 60-70% of what it is. We have a situation where the people actually living and working in the community cannot actually afford to live in it.

The ridiculous cost of fuel doesn't help either. In a country with large transportation costs, an increase in the cost of fuel gets passed onto the consumer.

Edit: I re-read your post, and it's totally non-sensical. $500 over the course of the mortgage? Do you seriously believe that? That wouldn't cover the cost of the postage to send you monthly mortgage statements. Interest rates were not 1% in the 50s. And interest rates are expressed in yearly interest amounts. Here's a link to actual interest rates:

http://www.cic.gc.ca/english/resources/research/housing/introduction.asp

You can see in the 1950s rates varied between 5 and 7% per year, which is much higher than current rates, which are probably just about 3.5% (for a non-variable mortgage) on average.

For someone who claims to have an incredible working knowledge of how to work hard and make it big, you certainly know nothing about finances.

I wouldn't solely blame foreign investment.. I'd also blame the Minister of Finance. They've, to me, stepped too close to US cheap money policies, which has undermined the loonie of late.

Link to comment
Share on other sites

I wonder if the other 30% are living in their mom's basements.

Well, if you are leaving paycheque to paycheque, the best strategy to save money is to really live in your mom's basement. I mean, with the high rents in Vancouver, you can barely survive and feed yourself working in a crappy fast food restaurant. More people should actually share living space so they could save more money and have some emergency funds.

Link to comment
Share on other sites

Why does everything have to be so negative always? Tuition fees for post secondary expected to rise in the next 4 years by 13 percent, 40 percent of jobs expected to be gone that exist now in 30 years.

Frack sakes if I keep reading this crap I might go totally cuckoo and move to the Philippines and become a sex tourist.

Link to comment
Share on other sites

Why does everything have to be so negative always? Tuition fees for post secondary expected to rise in the next 4 years by 13 percent, 40 percent of jobs expected to be gone that exist now in 30 years.

Frack sakes if I keep reading this crap I might go totally cuckoo and move to the Philippines and become a sex tourist.

Isn't that what Pouria is doing now?

Link to comment
Share on other sites

Well, if you are leaving paycheque to paycheque, the best strategy to save money is to really live in your mom's basement. I mean, with the high rents in Vancouver, you can barely survive and feed yourself working in a crappy fast food restaurant. More people should actually share living space so they could save more money and have some emergency funds.

..... Or move out of Vancouver...maybe if enough people do this, it would put real estate back into affordable ranges.
Link to comment
Share on other sites

Hmmm, Canadian debt and housing costs at all time highs.

But don't worry, no bubbles to see here.....

P.S. Those complaining that the goverment is only making the problem worse are correct. Those that think the goverment can govern the market forever clearly underestimate the power of the market. All prices return to historical normals, as has ALWAYS been the case.

Link to comment
Share on other sites

Archived

This topic is now archived and is closed to further replies.

  • Recently Browsing   0 members

    • No registered users viewing this page.
×
×
  • Create New...