Sunday 6 January 2013

Cost of Living ~ Money

Happy 2013?


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?

10 comments:

  1. 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.

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    1. Thanks :) 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.

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  2. My 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.

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    1. Wow, that is a huge increase. Maybe that is a good thing but not so much on the wallet

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  3. Sigh....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.

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  4. The 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.

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  5. the 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.

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  6. The cost of Bell Internet now has decresed. There are plenty of interesting plans for customers.

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  7. I try to use coupons and do survey companies to make up for my budget increases

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