scrubbedexpat091

Seems based on the poll mentioned in the article, 48% pilled live check to check.

We certainly do. One late check and nothing can be paid. We have little debt, just the car but rent kills us eating up half our income roughly.

If we were paid late, rent would not be paid on time.

And no way on the planet we could come up with emergency funds, if there is an emergency we would be up the creek.

http://globalnews.ca/news/2924699/ha.../?sf35308153=1

BristolUK

There was a similar thing done recently for the UK but the emergency sum there was £500 with one in three not being able to do it as opposed to one in four not coping with $2000.

beckiwoo

I'm the opposite - I squirrel money away and live on a budget until I need it and I am not on a good salary in Vancouver, I just know how to budget and handle money. My mother calls my 'tight' but I call it being 'careful' - I've got better with age though and I'm about to blow a load of it on a trip to Halifax and NS - woop woop.

It is always good to have an emergency fund though

Novocastrian

DON'T DO IT.

Novocastrian

My younger son lives pay-cheque to pay-cheque except when he has to call on the Bank of Dad. Bloody internet banking.

BristolUK

It's a very underrated ability. Not just budgeting but juggling too. Or was that what you meant by handling?

I remember when I was buying my house way back and my mortgage was taking a hefty whack of my wages. If I was a bit short, I'd join my mum on a Tesco trip, use my credit card for her stuff for which she'd give me cash and I'd have an interest free, fee free, cash advance.

Even now there are times when faced with an unexpected bill (like on the duplex ) I'll pay by a credit card and then transfer the balance to another card to get a low interest rate. Zero if I do the same thing with a UK card.

(important to pay off while still a low or nil rate of course, but even if you don't make that, it can still work out well)

Rete

My daughter is the same but the Bank of Mom has been declared closed and business license suspended.

Agree about not blowing a wad to go to Nova Scotia. Have a stepson there and not a place I would spend money on going to unless it was to see the grandson.

Go to Lake Louise instead.

Shirtback

I've lived pay-cheque to pay-cheque. Don't recommend it, but needs must sometimes

Just wanted to add that if one's pay-cheque arrives late, & one can provide proof thereof, the consequential delay in paying one's rent shouldn't be held against one (ymmv, depending on province).

Bank-of-Mum is pretty much closed here, & always has been. Dad is still a soft-touch...


Have a great trip to NS, Beckiwoo, why wouldn't you, if you can afford it? .

Novocastrian

I'm just a bit concerned that since Beckiwoo has indicated a desire to leave Vancouver, she might be on a recce trip to Halifax.

Vancouver is shit, but Halifax is distinctly shittier.

Shirtback

Well, there is that...

viajero

Sad to say it but many (not all, but many and possibly most) live paycheque to paycheque due to the acquisition of bad habits.

It has been said that personal financial management should be a mandatory subject in every Canadian highschool. It would sure as hell be more useful and possibly life-altering (in a good way) than calculus (although I actually enjoyed calculus).

How many people living in precarious financial circumstances spend $6 every single day on a mochafrappacrappacino? I know what it's like to be low-income. In my mid-20s I was earning a pittance. I lived within my means. It can be done.

Novocastrian

Well, thank you for your insight Mr. Micawber.

viajero

Might I suggest that you preface this with "In my opinion".

Novocastrian

I'm happy to accept your edit, although it does contravene the site rules.

Have you had time to look at them?

viajero

Mock me all you like but what seems to obvious to me - live within one's means - is lost on a great number of people.