We heard the results of a Canadian study earlier this week which says that about 60 percent of us are living pay cheque to pay cheque. Of course many people are hard pressed to make ends meet because of meagre wages, but we are a relatively wealthy culture. Why so many Canadians living on the edge?
A big part of the answer is high expectations and high debt. The CBC interviewed a financial therapist yesterday -- a therapist, not a counsellor! -- who acknowledged that many of the people she works with have no sense of restraint. Canadians, even more than Americans, rack up personal debt at an alarming rate. We feel entitled to "own" all the new consumer goods that push their way into our consciousness, thanks to relentless advertising telling us that these toys/cars/trips/appliances will complete us. Living beyond our means becomes a way of life.
I point out often enough that Jesus talked about simplicity far more than sex, and told us that the love of money is the root of evil. This was a phrase the apostle Paul chose to quote from Jesus. Paul and Jesus also exhorted us to be generous, and the two go hand in hand don't they? If we feel we never have enough stuff, we will never have enough to share with others.
What was your reaction to the report on our societal "living on the edge?" I notice that when I write on the subjects of money and generosity I don't get many responses. Is this a sensitve area? A number of readers have retired recently. What have changes in income meant for you?
At a young age, when I started earning money babysitting, my parents sat me down and helped me to design a budget. I learned to spend only what I had. I continue to live by this today, however am finding it difficult to teach our daughter this. In her mind, if you want something you get it, and even though she has her own money she thinks that a purchase can just be put on plastic and you can own it. She doesn't get that you have a bill at the end of the month. A difficult concept but we will persevere.
ReplyDeleteI am not too interested in big toys and material possessions. Studies have shown that experiences, not material possessions, are more likely to make people happy.
ReplyDeleteIt would be nice to have more money for travel, but short of that, you can have wonderful experiences hiking in the area and feeling closer to nature.
On the topic of debt, I don't think I could sleep if I had even an outstanding credit card balance.
There's a lot to be said for living the simple life!
My grandmother, especially, whacked the idea of restraint into my mind (and wallet) and it admittedly took a while to take root.
ReplyDeleteNow, it's nice to know that I can spend and save and feel good about the direction the family home and finances are going. It's sometimes tough to wrestle with that internal "gotta have it" impulse, but winning is almost always the way to go.
Interesting that none of the three of you responded with "I have to fess up, I spent like there is no tomorrow!"
ReplyDeleteThis is a matter of developing a perspective on life, which seems to begin with what we learn at the knees of parents and grandparents.
Ruth and I hate debt, and in the family of my childhood it was "against our religion" to spend more than we had.
It was part of the religion of my childhood, quite literally, to "pay God." Giving was sometimes spontaneous, but my parents also budgeted for generosity, and they conveyed that to me and my brother.
I appreciate your thoughts. Thanks!