With a few “extra” bucks in my pocket, I decided to splurge, run some errands and get the family some take-out one recent Friday afternoon. “Splurge?” My first stop was the LCBO for some overdue “tonic.” My poison of choice went up $2 since I last purchased it. Next stop, grabbing a couple of long “underwater” sandwiches. My pocket became $22 lighter.
The latest financial news comes with some noticeable belt-tightening among average Canadians. It was reported recently week that “51% of Canadians can’t afford a $200 increase in monthly expenses.”
Canadians celebrated Tax Freedom Day recently, a point during the year when we are finally working for ourselves and have covered our taxes. Tax Freedom Day measures the total yearly tax burden imposed on Canadian families by federal, provincial and municipal governments.
Homeowners are well aware of the costs associated with running a household. With a new school year starting, our teens and 20-somethings are getting a reality check. My oldest daughter Lexie is in her second year at Western, and we moved her into a shared condo in London. This is the first time these girls will be on their own, and responsible for things like rent, utilities, water heater rental and groceries.
I’m often asked by my children about the importance of mathematics. I tell them that everyone needs simple math to figure out your bills, taxes and the like. Math also helps your brain ignite those neurons responsible for higher order and problem solving.