How is everyone dealing with their finances in this economy?

[Twitchy15]

Originally Posted by Sliver

Honestly, it's not altruistic. If my employees can't afford to live and are unhappy it completely fks my company, so I definitely don't need pats on the back.

I think most business owners are nicer people than they get credit for. We're generally not out to screw our staff. A. that's just the right thing to do, and B. it is actually to our benefit to be good to the people who work for us.

P.S. It's definitely private. Was public with CP discounts at one point until some a-hole gave my company a 1-star review saying 'the owner hates dogs; don't shop here' or something like that. Just a total clown move.

Nice you understand that, seems like most people don’t. If you treat your employees well and make them happy they would provide you and your business with better results!

[Twitchy15]

I think everyone is feeling the pinch it’s wild just how absolutely everything is going up and incomes don’t seem to quickly. My cost of living increase over the years has been 0% a few times and 1% a few times this year we got 2% but just doesn’t feel like enough.

Luckily we bought a house in 2017 because I can’t imagine trying to now. We bought a cheap house so financially we were doing pretty good. My wife makes an average income and mine may be slightly above average nothing to brag about. But we had been thinking of moving to a house that was a better fit for awhile. Last spring we had a baby and decided to move everything worked out great but financially costs have increased significantly.

Having a baby is expensive! House is older so needs work, higher utilities and higher property tax it all adds up quickly.

[Winsor_Pilates]

Any recommendations for a budgeting software/app that syncs with accounts to easily bring in expenses?
Free or cheap preferred.

[Oy Tiggins]

Splitwise is not bad for tracking expenses.

[Wormius]

Microsoft Lens is free if you want to get into receipt level scanning.

[Cortez]

Originally Posted by Winsor_Pilates

Any recommendations for a budgeting software/app that syncs with accounts to easily bring in expenses?
Free or cheap preferred.

Wife and I have been using YNAB (you need a budget) for years now. It's been great and very easy to track expenses. Not sure what is considered "cheap" these days but I think it runs around $80 - $90 for a year subscription.

[chemgear]

https://nationalpost.com/news/canada...2%20per%20cent).

Canada’s living standards alarmingly on track to be the lowest in 40 years

If Canada’s per-capita gross domestic product does not recover in 2024, the decline since mid-2019 may be the longest in the last four decades, a new study has found.

“Despite claims to the contrary, living standards are declining in Canada,”

Released on Thursday, the study found that from April 2019 to the end of 2023, inflation-adjusted per-person GDP declined from $59,905 to $58,111 or by three per cent.

This decline is exceeded only by the decline in 1989 to 1992 (-5.3 per cent) and 2008 to 2009 (-5.2 per cent).

“The severity of the decline in living standards should be a wake-up call for policymakers across Canada to immediately enact fundamental policy reforms to help spur economic growth and productivity,”

[White Out 403]

too little competition in the market

too much wealth is hoarded by too few people

this can only go on for so long.


As the great Rage against the machine wrote/performed/sang
Hungry people don't stay hungry for long

The rich #######s of this country should keep that in mind

[Slava]

Originally Posted by White Out 403

too little competition in the market

too much wealth is hoarded by too few people

this can only go on for so long.


As the great Rage against the machine wrote/performed/sang
Hungry people don't stay hungry for long

The rich #######s of this country should keep that in mind

I’m fairly sure that RATM and that lyric wasn’t talking about inflation at ~3%, unemployment at ~6% and positive economic growth. Things are just not that bleak.

[indes]

Canada has been chasing investment away for years. Just reaping what we sow.

[Fuzz]

Originally Posted by indes

Canada has been chasing investment away for years. Just reaping what we sew.

Spoiler!

I'm sew sorry

[indes]

Originally Posted by Fuzz

Spoiler!

I'm sew sorry

Hahaha oops! I can fix the post, but not the shame.

[Fuzz]

Originally Posted by indes

Hahaha oops! I can fix the post, but not the shame.

Can you believe that even today, with AI images, there doesn't exist an image of the Grim Reaper sitting at a sewing machine? I was shocked this was the best pun option I could find in 30 seconds of lazy searching.

[White Out 403]

Originally Posted by Slava

I’m fairly sure that RATM and that lyric wasn’t talking about inflation at ~3%, unemployment at ~6% and positive economic growth. Things are just not that bleak.

https://foodbankscanada.ca/hungercou...t%20the%20time

[Doctorfever]

Originally Posted by White Out 403

too little competition in the market

too much wealth is hoarded by too few people

this can only go on for so long.


As the great Rage against the machine wrote/performed/sang
Hungry people don't stay hungry for long

The rich #######s of this country should keep that in mind

I don’t know if I would simply blame the rich.

If we want more competition, we need to encourage that. Make it enticing for new companies to start up.

[White Out 403]

The rich and the power for the ones rigging the rules and making it the way it is. I don't know who to blame specifically I'm sure there's a lot to go around. What I do know is true is that there has never been a time machine in history when wealth has been concentrated in fewer hands

[Doctorfever]

Originally Posted by White Out 403

The rich and the power for the ones rigging the rules and making it the way it is. I don't know who to blame specifically I'm sure there's a lot to go around. What I do know is true is that there has never been a time machine in history when wealth has been concentrated in fewer hands

Perhaps poor policies?

[Winsor_Pilates]

Originally Posted by White Out 403

The rich and the power for the ones rigging the rules and making it the way it is. I don't know who to blame specifically I'm sure there's a lot to go around. What I do know is true is that there has never been a time machine in history when wealth has been concentrated in fewer hands

You're partly right, but you're missing other parts of the equation that are really hurting Canadians.

Giving too much power to a handful of corporations is bad. Destroying economic mobility, desire to invest/create for the average citizen/business is also bad.
What's ridiculous about Canada right now is we're doing both.

[activeStick]

I don't know what it's like in Calgary, but here in Toronto, I'd say that 95% of the food delivery workers are Indian. I'm assuming that while some of them may be here on student Visas, I feel like many are not students. I feel bad for them as I can't imagine how hard it must be to survive in Toronto when delivering food is one of your part time jobs.

[Fuzz]

Originally Posted by Doctorfever

I don’t know if I would simply blame the rich.

If we want more competition, we need to encourage that. Make it enticing for new companies to start up.

The giant corporations make that harder and harder. What are you going to do, open a hardware store(for example)? You can't compete on inventory, because you won't get the deals HD or Rona get.

OK, so you create something unique, and your business is to sell it. Except now it's been copied and sold for 1/10th of what you can manage, 6 months after you got setup.

I don't think in this modern world small businesses have much of a chance. Sure, there are some industries that might find success, but it's not like it was in the past.