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The story looks to me like an example of family budget mismanagement full of red flags. Expensive trips, two kids in day care while 1 unemployed parent stays at

The story looks to me like an example of family budget mismanagement full of red flags. Expensive trips, two kids in day care while 1 unemployed parent stays at home, two cars, and very expensive payday loans on top of it. Honestly, I have little sympathy here. PS. If there is a problem with middle class in Canada this story is not a good example of it.

thablackbull 9y ago
To be fair, it was never about a hollowing out. The link is, "Many Canadians are living on cheap credit rather than living within their means" and the title is, "Canada’s Middle Class Is on the Brink of Ruin". The whole purpose of the piece was pointing out the frivolous spending habits of the average person that leads to deep financial problems when a negative event happens (job loss, divorce, etc.) You were never to empathize with it; it's just saying people spend beyond their means.
graeme 9y ago
I know at least one supplier who lives like this financially. They and their spouse have above average incomes, but large debts, and constant spending on expensive vacations and house renovations. They have jobs, so they don't go over the edge. But it's basically one step removed from the more extreme situation highlighted in the article.
nbanks 9y ago
I have more sympathy for Jacqui, the single mom. She wasn't planning to divorce her husband and a $1200 basement seems reasonably thrifty for three people. Perhaps the new vehicles were extravagant, but she purchased that before her second divorce and couldn't save much by selling it to buy an old beater. In the end, her best hope would be a better paying job or moving somewhere with less expenses but a worse university for her daughter.
prawn 9y ago
The day care thing puzzled me. Surely either parent in between jobs could be at least 0.6 FTE home with the children? Is the father assuming that's not their role or being lazy about it? Schedule job interviews for the 1-2 days/week the kids are being cared for. I'd also be cautious about trying to live away from family and friends who you can rely on for spot support with childcare, emotional support, etc. I know it's not feasible for all, but that cost would add up.

thablackbull 9y ago

To be fair, it was never about a hollowing out. The link is, "Many Canadians are living on cheap credit rather than living within their means" and the title is, "Canada’s Middle Class Is on the Brink of Ruin". The whole purpose of the piece was pointing out the frivolous spending habits of the average person that leads to deep financial problems when a negative event happens (job loss, divorce, etc.) You were never to empathize with it; it's just saying people spend beyond their means.

graeme 9y ago

I know at least one supplier who lives like this financially. They and their spouse have above average incomes, but large debts, and constant spending on expensive vacations and house renovations. They have jobs, so they don't go over the edge. But it's basically one step removed from the more extreme situation highlighted in the article.

nbanks 9y ago

I have more sympathy for Jacqui, the single mom. She wasn't planning to divorce her husband and a $1200 basement seems reasonably thrifty for three people. Perhaps the new vehicles were extravagant, but she purchased that before her second divorce and couldn't save much by selling it to buy an old beater. In the end, her best hope would be a better paying job or moving somewhere with less expenses but a worse university for her daughter.

prawn 9y ago

The day care thing puzzled me. Surely either parent in between jobs could be at least 0.6 FTE home with the children? Is the father assuming that's not their role or being lazy about it? Schedule job interviews for the 1-2 days/week the kids are being cared for. I'd also be cautious about trying to live away from family and friends who you can rely on for spot support with childcare, emotional support, etc. I know it's not feasible for all, but that cost would add up.