Paycheque to Paycheque

Paycheque to Paycheque

Almost 60% of Canadians live paycheque to paycheque; yes you read that correctly.  

I was shocked at this statistic.  

                                      Money

I did a 'quick calculation' of my own finances, and I realized that I am 'almost' one of the 60% mentioned above.  

This is not good. 

Are you as well?

This is 'troubling' for high percentage of Canadians and Americans, and the remainder of the world.  

Also, I should state that this figure is the same as the year before amounts; therefore not much has improved to date for most citizens.  

What is the 'safe' amount to have saved for any unforeseen emergency?

It is recommended that we should have 'three months' salary put aside.  

Therefore, my recommendation to 'myself' and 'you' is that from this date on forward; put 10% of your wages in another bank account, or hide it in your home, to accumulate the three months figure.  

                                                     Save
 

Is this doable?

Check back with me in three months, and I will let you know if I have been able to consistently save a 'small' portion of my wages. 

Thank you for reading.  

Ben here

Minimum Wage in Canada

Minimum Wage in Canada

The 'minimum wage' in Canada is set forth by 'Employment Standards Regulation'.  This document states that for example, in the province of Alberta, the 'minimum wage' is;

- hourly minimum wage of $9.95 for most employees,

- hourly minimum wage of $9.05 for employees serving liquor,

I have attached some useful links and documents to support all the figures, these are below:

Employment Standards, Rights and Responsibility at Work

http://humanservices.alberta.ca/documents/Minimum-Wage.pdf

Province of Alberta, Employment Standards Code

http://www.qp.alberta.ca/1266.cfmpage=1997_014.cfm&leg_type=Regs&isbncln=9780779733927

Order in Council

http://www.qp.alberta.ca/documents/orders/orders_in_council/2011/611/2011_237.html

Do you feel that an increase is warranted for the 'minimum wage'?

I will write another blog in the future, as I am interested to know which province in Canada has the 'highest' 'minimum wage' currently. 

To be continued. 

Thank you, 

Ben