Do you have a list of savings goals you're currently working towards? A running list of things you actually need to buy? Or were your answers impulsive - full of wants that would satisfy you in this moment rather than needs that could help you for awhile? The question sounds innocent enough. But the question is everything that's wrong with the money mindsets being instilled in us.
Thanks to former Prime Minister Paul Martin, I think we've all been conditioned to think that balanced budgets are very good things. But not all deficits are bad. It is prudent or even smart to slash and scrap into a surplus like Stephen Harper has done. Especially considering that Canada's infrastructure deficit is estimated at nearly $400 billion -- and growing.
In the 2015 federal budget, the Canadian government announced its intention to create a $300-million initiative to encourage private investment, job creation and growth that will fight extreme poverty in developing countries. Canada is the last G7 country to create a public arm to support private investment in development. Some of our counterparts have been in this business for over 50 years, doing good and making money at the same time.This initiative looks even tardier when one considers that successive Canadian governments since the early Trudeau era have bandied about the idea of creating a public entity to catalyze more private capital for development.
We spend money almost every single day, but unfortunately our expenses aren't always productive. Even if you have a seemingly air-tight budget, you may still be wasting your money on trifles. How so? Perhaps you are still paying for something that's on its way to becoming obsolete or simply isn't all that practical.
Instead of demanding more money from the federal government, Ontario could a) cut provincial spending or b) reform everything from labour laws to regulation to tax policy and electricity policy, to unleash the economy and thus produce more at-home tax revenue or c) both. Ontario should not expect continued billions in annual equalization payments. While the exact decline in equalization is unknown -- it depends on how badly the resource economies and their provincial treasuries are hit -- Ontario should face reality and act accordingly.
91 per cent would rather spend time with their partners watching Netflix or enjoying a home cooked meal. This was our favourite stat, because it shows your significant other probably doesn't want a big spectacle for Valentine's Day -- and of course, a cozy night at home is really easy on the wallet.
Travelers looking to save money on accommodations can consider staying in a hostel, pitching a tent and camping or even give housesitting or couch surfing a try. While the sky is the limit when it comes to fine dining around the world, travelers can save money on food by cooking meals or eating local, street food.