More than half Canadians live paycheque to paycheque

I've always put some of my paycheck into RRSPs and now that I have a little one I put cash into RESPs.

People want to live outside their means with new trucks, big houses, multiple kids, if you can't afford them all, then pick which ones you want.

People want to even pay a mortgage not rent but they are too busy paying student loans because everything needs a university degree and or a masters to get a decent job anymore.

Too many people do this anymore and then they blame their misfortunes on those who are wise enough to set aside for a rainy day...or a rainy decade.

The skilled labour shortage is not a myth. Costs of education has skyrocketed for jobs that are in dire need. Take nursing for example: there was a time where a high school education and hands on education was enough, now you need to be almost a doctor in the level of schooling and accreditation which takes years and huge amounts of debt. Back then they would be into the workforce earning a wage and paying taxes, today they are lucky to may payment on debt let alone buy big ticket items.

What's a paycheck?

I don't know... when my company pays me, the money magically appears in my bank account.

I'm thinking way back when (dinosaurs roamed the Earth?), people were paid with little slips of paper which they had to take to the bank and cash.

My history teacher unfortunately never went that far back during class.

No doubt - the Liberals cut back post-secondary funding big time in the 90s and unlike pretty much everything else (health care, defence, social programs, etc), they, nor their successors the Conservatives, restored funding for post-secondary education. Back in the 80s & 90s, students in Alberta paid about 10-12% of the cost of a university education, while nowadays it is closer to 30%.

I needed a student loan to pay for my bachelors degree (my family could never afford to put all six of kids through school), and because costs skyrocketed after the mid-90s, I paid more than double what my friends did in the early 90s. And I wasn't one of the students who went to Mexico for reading week or ate out all the time or had any other bad spending habits. I also worked while going to school too. It took me almost a decade to pay it off and as such, I wasn't able to buy a place until 2008.


That is going to bite us in the ass when the government comes calling for more taxes to pay for health care for the baby boomers in the next decade.

Most of those people should also be under 40 years old.

This is about spending habits rather than being able to buy food and clothes.

2 reasons people live paycheck to paycheck...
...not enough revenu to be able to put some money aside
...they spend too much and "choose" not to put money aside

I'd bet there are more people in that 2nd group then the first.

Mutual funds here.

2 reasons people live paycheck to paycheck...
...not enough revenu to be able to put some money aside
...they spend too much and "choose" not to put money aside

I'd bet there are more people in that 2nd group then the first.
Yup the article definitely sides with the 2nd.

2 reasons people live paycheck to paycheck...
...not enough revenu to be able to put some money aside
...they spend too much and "choose" not to put money aside

I'd bet there are more people in that 2nd group then the first.
Yup the article definitely sides with the 2nd.
Worked in a bank for 23 years...
Never really saw a lot of the people in the 1st group.
The ones in the second group were ALWAYS in my office though.