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Thread: Canada #1 in personal Debt

  1. #241
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    I got hockey gear from Sports Swap but eventually it was getting too expensive for my Ma so did soccer summer and winter. Truth be told, I think I'm better at soccer than hockey anyways so it worked out better in the end.
    Last edited by msommers; 12-08-2017 at 10:06 PM.
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  2. #242
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    Quote Originally Posted by 88CRX View Post
    Not maxing out GRRSP money is idiotic. No excuse.
    why? If its not employer matched or something like that, IMO GRRSPs are bleh.


    But i agree if its your average person and they aren't doing an easy method of saving for retirement like that, then they probably aren't doing anything else. At my work for the people who make 6 figuresish i'd say 25% are probably at varying degrees between hording money like crazy and doing ok, 25% are probably with no savings whatsoever but are doing 'ok', and 50% are probably paycheck to paycheck w/ maxed credit or worse. No one signed up for the group plan corporate setup.

    I would say that is probably average for Alberta for anything remotely tradesish, although I think the number of people making 200k a year and being one paycheck away from disaster has significantly dwindled recently thx to the berta crash of 2014... mostly because those people are no longer making 200k a year and have already lost thier boat, skidoo, sidebyside, diesel 3500, corvette, RV trailer, yukon denali, quad, sled, last years sled, sled from 2 year ago, etc.
    Last edited by zhao; 12-08-2017 at 09:57 PM.

  3. #243
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    Quote Originally Posted by zhao View Post
    why? If its not employer matched or something like that, IMO GRRSPs are bleh.


    But i agree if its your average person and they aren't doing an easy method of saving for retirement like that, then they probably aren't doing anything else. At my work for the people who make 6 figuresish i'd say 25% are probably at varying degrees between hording money like crazy and doing ok, 25% are probably with no savings whatsoever but are doing 'ok', and 50% are probably paycheck to paycheck w/ maxed credit or worse. No one signed up for the group plan corporate setup.

    I would say that is probably average for Alberta for anything remotely tradesish, although I think the number of people making 200k a year and being one paycheck away from disaster has significantly dwindled recently thx to the berta crash of 2014... mostly because those people are no longer making 200k a year and have already lost thier boat, skidoo, sidebyside, diesel 3500, corvette, RV trailer, yukon denali, quad, sled, last years sled, sled from 2 year ago, etc.
    GRRSP with employer matching a % is what was being discussed. Not utilizing an instant 100% return is not smart.

    If an employer is not matching is it even a real GRRSP?

  4. #244
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    The definition of a GRRSP is just an employer setup group program that contributes directly from payroll on a pre-tax basis. If your employer doesn't match contributions its still a GRRSP; one i dont see the point to unless you really value getting that tax benefit from a RRSP instantly.

  5. #245
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    Quote Originally Posted by zhao View Post
    The definition of a GRRSP is just an employer setup group program that contributes directly from payroll on a pre-tax basis. If your employer doesn't match contributions its still a GRRSP; one i dont see the point to unless you really value getting that tax benefit from a RRSP instantly.
    Exactly. I'm not doing my GRRSP yet since I started at a new company within the last year, and they don't match until you've been there a year. Doesn't mean I'm not saving.

  6. #246
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    Quote Originally Posted by J-hop View Post
    How can a cheaper lot make up for gas expenses, added wear and depreciation on your vehicle and increased insurance premiums?

    Monthly pass costs $5/working day (assuming you work 20 days/mo
    The guy was driving to work before so presumably he was a-ok with actually using his vehicle.

    LOL at thinking driving to work makes a material difference to your insurance premiums. Dude, it added like $12/year to mine... And I'm sure this guy hasn't bothered to phone his insurance company and tell them that he doesn't drive to work anymore.

    This particular Impark lot is $50/month.

  7. #247
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    Quote Originally Posted by mr2mike View Post
    Yes there is but tell your kid, no more hockey and see the pain on their face.
    We went through this, and more, growing up. Explaining austerity measures to kids is not easy, but its the hard truth. I was lucky to have shoes (that fit) in many cases so when dad put the hammer down, it wasn't a huge surprise. Zero team sports allowed.

    Now, my 3 brothers and I have never had issues with personal austerity or fiscal imprudence.
    Last edited by revelations; 12-09-2017 at 06:40 PM.

  8. #248
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    We used to drive the truck and camper out to Vancouver island in the summer. Had to skip it one year because we couldn't afford the fuel and ferry and it wasn't until years later that I really understood how tight things must have been.

    I can tell you that when my dad died and the final accounting of his estate was finished, he was living basically day to day after working for a lifetime. Never once saw him splurge on a single thing. Has greatly impacted my attitude towards money.
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  9. #249
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    Quote Originally Posted by ExtraSlow View Post
    We used to drive the truck and camper out to Vancouver island in the summer. Had to skip it one year because we couldn't afford the fuel and ferry and it wasn't until years later that I really understood how tight things must have been.

    I can tell you that when my dad died and the final accounting of his estate was finished, he was living basically day to day after working for a lifetime. Never once saw him splurge on a single thing. Has greatly impacted my attitude towards money.
    I dont want to turn this into a "who was more deprived" contest" .... LOL........but we lived in Nanaimo and many summers we did fuck all.

    We had 1 car, which was gone all summer weekdays and some weekends with dad working, so we were stuck with nothing to do, save for cheap ass biking (thank god) and street hockey with neighbours.

  10. #250
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    The beauty of not having money as a kid makes you chase and appreciate it so much as an adult.

    Not having those experiences hockey, nice clothes, vacations etc. as a kid is fine, I buy what I want when I want as an adult lol

  11. #251
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    Quote Originally Posted by ExtraSlow View Post
    Has greatly impacted my attitude towards money.
    Quote Originally Posted by max_boost View Post
    The beauty of not having money as a kid makes you chase and appreciate it so much as an adult.
    +1 on both of these
    Quote Originally Posted by Gestalt View Post
    abso fucking lootely

  12. #252
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    Quote Originally Posted by max_boost View Post
    The beauty of not having money as a kid makes you chase and appreciate it so much as an adult.

    Not having those experiences hockey, nice clothes, vacations etc. as a kid is fine, I buy what I want when I want as an adult lol
    Definitely - my brother has silver spooned their kids and it shows. They will have no concept of fiscal prudence or austerity.

  13. #253
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    My pets growing up were the cockroaches in our tiny apartment. I know what it means to be poor better than most I'd say. That didn't teach me the value of money. That taught me the value of hard work.

    Therefore, my views on money is work hard, PLAY HARD.

  14. #254
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    Quote Originally Posted by suntan View Post
    LOL at thinking driving to work makes a material difference to your insurance premiums. Dude, it added like $12/year to mine... And I'm sure this guy hasn't bothered to phone his insurance company and tell them that he doesn't drive to work anymore.
    Last time I added a commute to insurance from just pleasure it made a fairly significant increase in premiums. This was for a declared 4 km commute. I believe it was at least 10-15%.

    It is definitely not necessarily negligible.
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  15. #255
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    Quote Originally Posted by killramos View Post
    Last time I added a commute to insurance from just pleasure it made a fairly significant increase in premiums. This was for a declared 4 km commute. I believe it was at least 10-15%.

    It is definitely not necessarily negligible.
    I had the same experience

  16. #256
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    Quote Originally Posted by killramos View Post
    Last time I added a commute to insurance from just pleasure it made a fairly significant increase in premiums. This was for a declared 4 km commute. I believe it was at least 10-15%.

    It is definitely not necessarily negligible.
    Getting a bit off topic here but generally speaking going from pleasure only to commuting should be anywhere from 5% to 15% difference depending on a few different factors.
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  17. #257
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    Quote Originally Posted by suntan View Post
    Does he know about the Impark lot on 9th ave near the c train station?
    Just say gas off set the bus pass at $100. (It doesn't he got a F150).

    Any parking that isn't free is a burden. We are outside the core and it's bit cheaper but still runs $150-$200+/mth.

    The trade off is time, adds about 30min per day which isn't too bad.

    Quote Originally Posted by suntan View Post
    This particular Impark lot is $50/month.
    Wow. that's a steal.
    Last edited by Xtrema; 12-11-2017 at 04:54 PM.

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