Canadian Personal Finance Blog

Archive for December 7th, 2006

So the Grinches at Stats Canada have published a new survey of how the Canadian Family’s “wealth” has increased over the past 6 years.

The median net worth of Canada’s 13.3 million “family units” (families, couples and unattached singles) was $148,350 in 2005, according to Statistics Canada’s latest survey of financial security.

That’s up almost 41.7 per cent from 1999, and up 23.2 per cent after taking inflation into account.

But the total debt load carried by Canadians grew almost 50 per cent in the same period. After adjusting for inflation, the median debt load rose 38 per cent to $44,500 per family.

Well, so I am not that bloody rich then! My family gross income is less than the average, so Whoo Hoo, leave me alone Tax Man, I am not so gosh darn rich as you claim I am. My debt load hasn’t increased as much as they say, but it is larger than their median as well, so that isn’t good news either.

I call Stats Canada Grinches, because they have come down with edicts that their employees are not allowed to wish anyone Merry Christmas, only Happy Holidays, oh well, I guess all I can say is, MERRY CHRISTMAS!!!! -C8j

Yes, my Christmas planning has been derailed by illnesses and far too many “events” to attend and I fear I may end up in a “Christmas Panic” and overspend on gifts (as usual). This is what stores want you to do. They don’t make money on the people who get their shopping and planning done in October, they make their money on the Husband who walks into Best Buy on December 23rd and decides his wife would want a Microwave oven for Christmas, and then as he drives home realizes that this was a bad idea, so goes to the jewelers and drops 2 months pay (gross) on a necklace to make up for it. This is where the money is for the stores, so plan folks, and don’t get sucked into panic’ing!

Fail to plan is a plan to fail! (said Mr. Pot over hear) -C8j