I apologize in advance, this personal finance column will not give you anything useful. As you can see, your financial situation has seemingly improved during the pandemic, but the desire to return on a trip threatens the balance of your hard-earned budget as you haunt the old inflation demons for your nights.
So, how do you find peace?
basic! Your employer should enhance your financial well-being by investing in “highly skilled professionals who ensure that you get paid accurately and on time.”
I’m not saying that, but the Canadian Payroll Association (CPA). The organization has just released the results of a survey of the financial situation of Canadian workers.
a report ? It’s going just fine, but not too much either. Because if things are going well, we can’t call companies to hire skilled payroll professionals.
So what does the survey say? Canadian workers saved more this year than 2019. This finding confirms a lot of data already known, and it’s normal: We weren’t able to travel most of the year, restaurants couldn’t accommodate customers before good weather returned, and we’re still working from home. Most savings come from low discretionary spending and employment-related payments.
It should be noted in this regard that 68% of the respondents believe that their “travel” budget will return to what it was before, and 57% said they want to return their spending on social activities to its previous level. This means that many people should continue to improve their financial conditions.
I would include one (another) editorial comment: It is not easy to conduct this kind of survey, people find it difficult to accurately assess their financial situation.
The survey researcher asked interviewees to estimate the percentage of what they had memorized, with this choice of answers: 0%; 1% to 5%; 6% to 10%; 11% to 15%; 16% to 20%; More than 20%.
I dare you to tell me exactly what percentage of payroll you put aside. The only people who should be able to answer with confidence are those who spare nothing, they make up 8% of the sample. However, after two questions, 28% of respondents said they spend all of their salary or more. I assume that respondents who initially said they were small savers (1% to 5% of their salary) realized during the survey period that they basically don’t save at all.
The good news in all of this: 71% of workers save at least a little. Another plus point: many of them say they can handle the unexpected.
what to worry about
The survey indicates that inflation is on top of workers’ concerns.
The topic popped into the news with the poll taking place in the spring, with the real estate frenzy and booming building materials costs making headlines. its weight!
A high percentage (35%) of Canadians say they are “burdened” with their debt, which is essentially mortgage loans. This is another question that I find difficult to deal with, because there are those who stress the smallest of debts while others remain calm when they have every reason to feel suffocated. Debt sustainability is not a good indicator of its true weight.
However, in Quebec we sleep a lot quieter, with less than 25% of workers saying they are “overwhelmed” with debt. On all fronts, at least if we trust this poll, Kickers perform better than workers anywhere else in the country.
A word on the Comprehensive Peace Agreement
For years, the Canadian Payroll Association has been teasing us by promoting deals related to salaries. I couldn’t name you a single one, you got lost as soon as you got into these managerial jobs. It’s the same association that gives us, every year, the calculation of workers living from payroll to payroll, data that seems a bit exaggerated to me, especially since it always ends up with the same silly message. ..
No need to insist on the gang: everyone wants to get the exact amount of their wages on time.
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