CANADA - 81% of Canadians say if they won the lottery the first thing they would do is pay off their debts.
59% of Canadians admit they live "paycheque to paycheque" and are one pay slip away from financial instability.
The statistics are part of a study released today by the Canadian Payroll Association which reports that many Canadians would be in severe financial difficulty if their pay was cut or delayed by one week. That figure is unchanged from a similar report from 2009.
Debt is #1 on the list of worries for Canadians in 2010.
In 2009 the majority of Canadians the #1 worry was about putting money away from retirement.
16% of Canadians say they're not saving anything.
34% of Canadians report they are saving between 1 and 5% of their paycheques.
In Ontario 3 out of 4 workers say they don't think they could find a similar paying job if they lost their current job. Ontario has the worst optimism rate out of all of Canada.
In 2010 about 6 out of 10 Canadians think the economy will improve. In 2009 it was 7 out of 10, which suggests the economy is actually getting worse and Canadians are losing their optimism.
Household debt in Canada has skyrocketed to $1.41 trillion in December 2009 according to a report by the Certified General Accountants Association of Canada in May.
Household debt in Canada has grown 250% since 1989. The average Canadian (including children) currently has approx. $42,000 in debt, up from approx. $16,800 in 1989.
The news is even worse for home owners with mortgages. If interest rates go up by 2% then the average Canadian household would lose 11% of their extra spending budget. Many of them would be stretched to the breaking point and would have to renege on their mortgage.
See Also: Tea Leaves for Toronto Real Estate
American, Canadian, Toronto & International News Commentary: Spreading Freedom in the Face of Tyranny
Subscribe to:
Post Comments (Atom)
Affordable Website Design & SEO
|
Featured Posts
The Sarcasm Symbol
Ever had some confusion online or with your cellphone when someone fails to catch the sarcasm? Well now with the SarcMark you can ge... |
|
Behold, the Scorpion Hydrogen Supercar
CARS - To the right is the future of supercars... it is a hydrogen supercar called the Scorpion. The Scorpion from Ronn Motors in Texas is t... |
|
Documents show Stephen Harper misusing public funds
CANADA - According to 950+ pages of documents obtained by the Canadian Press under the Access to Information Act the Privy Coun... |
|
Pink's Rosie the Riveter
ENTERTAINMENT - What I like about this video is how it meshes different social movements like feminism, veganism, anti-capitalism... |
|
California's Dustbowl
ENVIRONMENT - The photo on the right is a farm in California that has been put up for sale. Its just one of thousands of farms that are n... |
|
Is Steampunk the New Goth???
GOTHIC - Watch out what you see on the subway late at night because while in 2001 you might have seen some pretty freakish goths, by 20... |
|
Do you have enough Ice Water in your diet?
HEALTH - A Calorie (large C) is a measurement of the amount of energy needed to raise the temperature of a litre of water (1 kg's worth) ... |
|
North Korean timeline towards Inevitable War
POLITICS - The following is timeline of events that have occurred on the Korean Peninsula. 1945 - Japan surrenders to the United States a... |
|
Judgment Day is Tomorrow, so sayeth Cult
RELIGION - According to a cult based in California, Judgement Day is tomorrow (May 21st 2011) and Jesus Christ will return to the Earth a... |
|
Sex in Space Forbidden
SEX/TECHNOLOGY - Sex in outer space is a big no-no according to NASA. Not for professional astronauts at least, but the growing numb... |
Popular Posts / Last 30 Days
-
Visit amazon.com/author/moffat to get free short stories and huge discounts on fantasy books by Charles Moffat. Sale ends on October 20th.
-
CANADA - One of Canada's elite commando units, the JTF2 commandos, have returned home to Canada after serving in Afghanistan for almos...
-
And the similarities don't stop there. Hitler and Trump have a lot more in common. The context in which Adolf Hitler was elected is...
-
CANADA - Interesting Fact: Stephen Harper 's Conservative government in Canada has only shown up to work for 14 days between June 1st ...
-
POLITICS - With Kim Jong-Il dead the future of North Korea has become very uncertain. If you haven't heard already, Kimg Jong-Il, th...
-
CANADA - “Harper does not like StatsCan, that’s what we kept hearing,” says a longtime employee of the agency which handles Canada's st...
-
By Ai Lung Nguyen - February 2011. TECHNOLOGY - It really boils down to a battle for market share... Facebook and Google have been conduct...
-
CANADA - Seriously... who was going to vote for a bald guy named Rocco Rossi??? According to polls 4% of Torontonians were thinking of voti...
-
CARS - Nobody ever steals a pink car. According to a Dutch study which compared the colour of cars being stolen, pink is the safest colour ...
-
I just finished watching Sicko (the 2007 documentary by Michael Moore about American health care, or lack thereof) and it is way better tha...
No comments:
Post a Comment
Comments containing links will be marked as spam and not approved. We moderate every comment. If you want to advertise on this blog it is $30 per link.