According to Statistics Canada Survey of Household Spending in 2009 average household spending in Canada declined by 0.3% to $71,120, following the economic slowdown that began in the fall of 2008, personal taxes accounted for 20% of the average household’s budget in 2009, while food, shelter and clothing represented 34%, and transportation 14%.
The chart below represents how the average Canadian spends their money. I see savings for pension combined with personal insurance payments, but the percentage of each is not clear. Savings are difficult when all of your money is committed to spending to live.
No wonder OAS is important to the well being of older Canadians and will continue to be an important part of the planning people use when thinking about how they will live when they retire.
The chart below represents how the average Canadian spends their money. I see savings for pension combined with personal insurance payments, but the percentage of each is not clear. Savings are difficult when all of your money is committed to spending to live.
No wonder OAS is important to the well being of older Canadians and will continue to be an important part of the planning people use when thinking about how they will live when they retire.
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