Each year, the cost of living increases and it is getting harder to live in the City.
Four major increases will be affecting me:
1. My local monthly public transit fares hiked up $2.50/mo. It was $115 and now it is $117.50 per month.
2. Effective July, the five (5) year Canadian passport will go up to $120 from $87. That is a 38% increase.
At the same time they will be introducing a 10 year Canadian passport for $160.
3. The cost of mailing regular within Canada mail will go up to $0.63, an increase of two cents ($0.02) effective Jan 14th, 2013
4. Day Care fees, an increase of $1 a day which is equivalent to approxiately $270 a year
Other increases will be either affecting me or others.
Rent - maximum of 2.5% increase is allowable in Ontario - see guideline here
Bell Internet going up by $3 effective Jan 1, 2013
Home and/or Car Insurance
Increase in EI & CPP premiums - less take home pay
Food - the usual milk, 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.
Which increases will affect you the most?