Personal finances are finding their way to the top of the financial news these days.
We have a new report from MNP that looks at the pocketbooks of people living in Manitoba and Saskatchewan which says many of us are feeling the pinch of day-to-day expenses.
60-percent of those surveyed said half of their regular pay check is spoken for before it hits their bank accounts while one-in-six say the upcoming pay check will not cover all their bills.
This story got more worrying as they dug further.
Half said they are an unexpected $200 expense away from insolvency each month. That’s nine points higher than at this time a year ago. That number also includes about a third who said they don’t earn enough to cover their bills.
A different report, this one from Zoocasa.ca, tracked the number of hours a minimum wage earner would have to work to pay the average rent in their city. It would take 95-percent of the paycheck in Vancouver which has the highest minimum wage. Regina is among the most affordable at 55-percent.
