Saturday, 25 January 2014

Cost of Living 2014 ~ #Life #Money

Happy 2014?


Like I said last year, each year, the cost of living increases and it is getting harder to live in the City.

Four major increases will be affecting me this year:

1. My local monthly public transit fares hiked up $5/mo when last year it was $2.50/mo.  It was $117.50 and now it is $122.50 per month.  It is getting harder and harder to justify their cost increase where I know it the increase is for their salary than anything else. $5 x 12 months = $60

2. My home insurance went up $50/mo.  That is insane!  They said it was because there was a flood back in the summer and now I have heard there will be another increase because of our recent ice storm. $50 x 12 months = $600

3. A major price increase for Canada Post that I can't believe is happening.  Effective March 31, 2014, stamps for letter mail will cost $0.85 if they are bought in coils or booklets.  $1.00 each if they were bought individually an for commercial rates if they are using postage meters at a rate of $0.75 per letter.

4. They also said my Property Taxes will increase this year by 2.5% where they said 1.4% goes to inflation, 0.5% to fund our public transportation, and 0.6% for enhanced services.  What!  1.4% for inflation.  My salary was slashed by XX% and it has been that way since the market crash...so it is totally unfair where there are so many strikes and fees increase where my after tax money is declining.... I think the increase will be around $50 or so...

Other increases will be either affecting me or others.
Rent - maximum of 8% increase is allowable in Ontario in 2014 - see guideline here
Bell service fees increased November 1, 2013
Condo Fees
Car Insurance
Increase in EI & CPP premiums - less take home pay
Camps, after school programs, Day Cares
Food - the usual fruit, meat, and eggs
And the list could go on and on.

What does this mean?  Either I get a better job or start cutting more things from our lifestyle and trying find ways to help me save.  If your wages/salary increases each year - that is great but un-lucky me and many others that I know - it does not.  In 2013 I have decreased my land line bill but my internet bill actually increased and they couldn't give me a discount.  Hopefully in March I could negotiate and get a better rate and if not, it is about time I find a different supplier.  I have cancelled my cable which helped me save close to $50 a month.

Which increases will affect you the most?

19 comments:

  1. Aw hugs to you. I feel your pain -- the rising price of gas and insurance is on my mind.

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  2. Wow that is ridiculously brutal! I dont live in Ontario but I just cant understand how they can justify these increases when the wages are so low.

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  3. I so can relate this post. The price of groceries is just nuts right now especially given the quantity I have to buy (2 teenaged boys) so I buy on sale, price match and coupon and still it keeps going up and up. Our household income is going down or holding depending on the year. City/regional taxes are going up between 1.4 and 2.4% so the property tax hike will be significant. Last year I got the MPAC reassessment on our property and they wanted to significantly increase our property value (which increases my property taxes). I had a look at my neighbours property taxes on their site (you can do that) and I submited an appeal with rationale of why the proposed increase was inappropriate (based on similar properties etc.). It took me a few hours to pull it together and mail it away but it was totally worth it. The increase was massively dropped and it will save me tons in property taxes over the next 5 years. I would highly recommend that property owners take a look on the site when they get an assessment and make sure that it makes sense relative to their neighbours' property assessments. Properties with a larger home and more land on my street were going to be valued $15,000 to $45,000 less than mine so I came out fighting and won.

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  4. so true everything keeps rising it's hard to even live anymore, but the wages never increase, I hate the goverment

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  5. It is getting harder and harder to make a monthly income stretch all the way to the end of the month. It seems it's okay to increase the cost of living but not okay to pay higher wages to cover the extra cost. It seems very unfair to me and it means that more and more families will slip into poverty and really through no fault of their won. The tip on property taxes was huge, thank you so much for posting that. I'm sure that a lot of people will take advantage of that tip.

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  6. being affected by added costs from the town for water/garbage pickup and by energy increase

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  7. i'm starting to question every purchase made. is it a need or a want?

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  8. I hear you on the public transport and Canada post increase!! It ticks me off too. Salaries are barely going up and it's getting more and more expensive to live anywhere, really. Looks like i'm just going to have to move to the mountains and live in a tent.

    texan_michael AT yahoo DOT com

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  9. We're struggling with everything going up ourselves.

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  10. Bus fares going up is terrible because I use public transit often... Minimum wage is supposed to be going up to $11 by the end of June apparently so maybe that's why there have been some price increases in that department.

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  11. This is just so true , the rising costs are getting way worse and soon we will have to move out West !!

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  12. I feel your pain. When I was living in Toronto it always bit me in the butt when it is Metropass time, it is also rent time. I think I bought a total of 2 metropasses in my 15 or so years living there. I couldn't justisfy it because it was rare that I took transit on the weekends, and when you do that, there is very little savings. Even now with a Presto card, I stay local, unless there is really something I need to go out and do.

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  13. It is so awe full because you can work 40 hours a week and still not make your bills or eat anything that has a vitamin in it. Our rents and everything has gone up here in BC, Hydro is going up again, plus every thing we need to be able to stay working, it sucks when you can't afford the bus to get to work( I know one time I had to pay with pennies to get to work but had to try and beg a ride off someone just to get home.

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  14. The prices of everything seems to be going up. All the small increases add up to a lot. We've cut back on phone and cable TV packages but with the prices increases still aren't saving much compared to what we used to pay.

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  15. I think everyone and especially the jobless people are feeing the pinch.We are too.Everything goes up in cost but our paychecks stay the same.

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  16. Its truly sad the rising costs , and so very unfair ! Rafflecopter name Treen Goodwin

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  17. the transit one really hurts. if you're buying monthly passes buy them from a gas station and use a cash back credit card. you'll get the rewards off of that and you can earn points via a program like petro points.
    it does nothing for the wallet, but at least you get a little extra for a must have purchase.

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  18. I too use reward cards to their full advantage, the individual savings might seem small but after a couple of years they sure add up

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