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
Property Taxes
Condo Fees
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?
I wish you the best for 2013. On the one hand, I'm lucky to not have dependents to take care of. On the other, I'm pretty much a professional student, with zero assets, and an income at maybe 1/3 of the poverty line? My biggest expenses are on the basic necessities -- food, insurance, and rent -- and increases on those will definitely affect me.
ReplyDeleteThanks :) It is not easy to be a mom but if my mom did it then I will just have to tuff it out... Good Luck on your schooling.
DeleteMy biggest worry about increases are regarding food and my property tax. Our house was just pegged with a $60,000 increase in valuation. That's pretty noticeable on the tax bill.
ReplyDeleteWow, that is a huge increase. Maybe that is a good thing but not so much on the wallet
DeleteSigh....these are the things that we have to look forward to when a new year begins and I hate it. I hate paying more money for the things that I already have (with no improvements). Everything increases in the new year, car insurance, internet, food,hydro, etc. The only that doesn't increase is my pay. I will be effected by them all, including my rent. So basically, the day to day things will increase...when is enough and why are they so greedy.
ReplyDeleteI agree. It is tough...
DeleteThe transit fees and property tax increases have a big impact on me. It ups the amount of money going out each month while there's no increase in the money coming in.
ReplyDeletethe hst has a huge effect on me. Now I can budget something to be 90$ but with hst its 112$ being a single mom that makes it tough sometimes.
ReplyDeleteThe cost of Bell Internet now has decresed. There are plenty of interesting plans for customers.
ReplyDeleteI try to use coupons and do survey companies to make up for my budget increases
ReplyDelete