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October 2021 Inflation
November 23, 2021
12:55 pm
Vatox
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November 23, 2021
8:36 pm
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Norman1 said

Kidd said
… I thought, Canadians have more money than they know what to do with. Maybe the likes of Rogers, air canada and every insurance company in this country are right to charge more for their substandard service, because Canadians are filthy rich.

Maybe I've been looking at our economic picture with my head in the sand. My view has always been, the glass is half empty, maybe if i had a smaller glass it would be over flowingly full and my outlook would change to the positive.

If one just focusses on the half empty glasses, then one will miss the ones that are overflowing!

There aren't multiple sources for those "53% of Canadian households are $200 or less from insolvency" news items. They are all quoting the same Ipsos poll.

The same poll also says the following:

…, the Index has also found that households are reporting having less money left over at the end of the month ($625 on average, -$108 from December). …

Overall average is $625 away from insolvency.

If 53% of Canadian households are $200 or less each month, then then other 47% must be averaging $1,104 or more each month to pull the overall average up to $625:

$200 x 0.53 + $1,104.25 x 0.47 = $624.998

The other 47% have overflowing glasses, averaging $1,104+ left each month after their expenses.

Lots of Canadian households are well off. With $1,104+ left after each month, some of them can afford a few dollars more on their utility bill or insurance bill.  

Here is why I’ve been saying you can’t average the numbers, especially for savings. Look at the savings chart. The $625 average is garbage.

https://betterdwelling.com/household-savings-data-shows-only-canadas-top-earners-are-thriving/

November 23, 2021
8:39 pm
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All of those savings are in the hands of the upper echelon.

November 24, 2021
10:06 pm
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