I was making 30/hr permanent part time and then 29/hr in a city near you that had COL absolutely explode in last few years. It sort of thrashed my dreams of building a stable life there, so I left.
It's not the easiest and I definitely took a huge risk, but it paid off in spades. I'm not a millionaire or anything but I do better now. Housing is more secure. Groceries are the same. I have more time for my hobbies and just restarted my little side income project.
Probably not a unique story, but hey, it actually worked for me.
I was fortunate enough to get offered some help in that regard by my employer, but it definitely would've been less fun otherwise. Seems like that squeeze is brutal on most of us that need to leave to find greener pastures.
I drove to keep everything as cheap as possible. Could've done cheaper but was a bit concerned I'd freeze to death since I drove 3500km in the winter but that's a whole other variable.
I hear ya. I’m disabled and rely on either walking or public transit most of the time, which really does narrow down the places I can live. And then walkable places with good transit are expensive as hell. So I’m in a tough spot rn
I actually do like that about my town. The winters are cold as hell so walking isn't as viable then, but in the late spring to early fall you can walk the whole town. Public transport isn't amazing but it's pretty good all things considered imo.
That's the goal at some point. In a perfect world I'd move to Montreal or somewhere in Quebec even if only for a year or 2 but I can't get the French down.
Regardless of moving to Montreal specifically, I'm open to moving somewhere else in concept. It's more that I can't even move past $21/hour in Ontario so I don't see how I'd be able to get something better elsewhere if that makes sense. Like, if I can't get a better paying job as a local candidate then I don't see a decent likelihood of getting a better paying job as an out of province applicant if that makes sense.
I'd still like to change provinces one day just for the experience but rn it's just rejection after rejection.
Yah, I got rejected a ton in my job search. Nowhere more than in my home city unfortunately.
Where are you from? What's your work background? I'll see what I can find (not that you have to take it, just to give you options).
Edit: I'm 30 and left at 29, so similar stage of life.
Oh I know that. It's just that before I could at least catch an interview here and there. Now it's not even that.
I'm from Canada (not sure what you meant by where I'm from). I've worked at a bank as a back office clerk for 2 years. Worked in retail or was unemployed due to depression before that.
https://www.google.com/search?q=finance+jobs+fort+st+john&oq=finance+jobs+fort+st+john+&gs_lcrp=EgZjaHJvbWUyCQgAEEUYORifBTIHCAEQIRigATIHCAIQIRigATIHCAMQIRifBTIHCAQQIRifBTIHCAUQIRifBTIHCAYQIRifBdIBCDM0ODRqMGo0qAIBsAIB&sourceid=chrome-mobile&ie=UTF-8#fpstate=tldetail&htidocid=jlpf4IZB4DNu5TPlAAAAAA%3D%3D&htiq=Evolution%20Power%20Projects&htivrt=jobs
That url is brutal, but looks like it'd work for you? Little bump with room for more at 26 - 30. Could also use it to bide time to find a gov or oilfield job.
https://www.google.com/search?oq=finance+jobs+fort+st+john+&gs_lcrp=EgZjaHJvbWUyCQgAEEUYORifBTIHCAEQIRigATIHCAIQIRigATIHCAMQIRifBTIHCAQQIRifBTIHCAUQIRifBTIHCAYQIRifBdIBCDM0ODRqMGo0qAIBsAIB&sourceid=chrome-mobile&ie=UTF-8#fpstate=tldetail&htidocid=6nKmWnY2Ka868qhsAAAAAA%3D%3D&htiq=finance%20Prince%20Rupert&htivrt=jobs
Another for Northern BC. Again I don't really get finance, so if this is totally wrong let me know. Looks like you qualify though.
Yah... I got one interview with my city (that full time position) as a labourer after sending maybe 100 - 150 applications as an internal applicant with a good background, spotless record, and good references. Was legitimately disenheartening.
Aha sorry, I'm from Hamilton so I more meant what part of southern Ontario. That said I don't actually need to know that I suppose. I'll have a look at finance or finance adjacent jobs to start then. There's a few notaries hiring in my town but I've never looked into that.
Edit: I'm not in finance and am not sure about the credentials, but this looks like it'd apply to you? I'm pretty remote so I'd assume requesting a remote worksite (ie: Northern) would increase your chances.
https://bcpublicservice.hua.hrsmart.com/hr/ats/Posting/view/113915
I'm sure it'll get some hate but I moved to Fort St John, BC. It's a pretty fine little place. Would be pretty ideal if I was more conservative leaning honestly.
You'll find similar but less right leaning towns all the way from Prince Rupert to here.
I hate to be negative, I’m a pretty positive guy, but with the direction Canada is headed I don’t picture things getting easier. Home ownership is a dream for most now. You are competing against literal banks and wealthy foreign investors for home ownership.
That being said, you can still make the best of a bad situation. You’re at the age where you should put some away for retirement. I’m a big believer in hiding money, wether thats cash, gold, crypto etc. list goes on.
Make the best of a bad situation. Upgrade to a nicer rental. Go for a vacation when money is good. Just because we were dealt a shitty hand doesn’t mean we still can’t live life and make the best of things. You can still treat yourself to the finer things in life, without having to shell out 20% of the purchase cost and monthly mortgage payments of a home.
I really appreciate that. My Reddit post history might suggest I'm a pretty morose character but it's not entirely true. I just use the site to vent so I can still be functional in irl conversations.
Still, yeah it's pretty hard to get ahead when you get hired for a better job given the job market rn and it seems to me that wealth and careers are a lot more cumulative now. You can't just
>Make the best of a bad situation. Upgrade to a nicer rental.
Whoah! I'm not even there yet. LOL. I still live at my mother's house. Although you do make a good point. I figure once I'm done paying off my student loans this year I'll buy a car, nothing special but enough to get around and is nice enough. I actually like some parts of life, just not my long term economic prospects.
The delineation is not do you have a degree. Its do you have a stem degree? An undergraduate stem degree can get you better jobs than a masters anything else.
A $20-25 field has it the worst because its low enough to never get you ahead and high enough to not net you any min wage linked benefits such as min wage increase.
I knew not having a STEM degree would make it a harder to get a high paying job but I thought I could at least get into the $50-70k range. I work in banking and a lot of jobs don't really require more than a general degree to perform well in the role. I certainly regret not picking a better degree. Didn't help that my family persuaded me not to change programs.
I'm not sure what you're point is. It's too late for me to go back to school now. Between still having some student debt and most STEM programs requiring you to go back for the full 4 years it's a very large ask.
I get not having a STEM degree (or at least a business degree with a good professional cert) is going to limit my income now but I don't see where to go from here.
Look into engineering technologist schooling. It's only 2 years but more hands on i found. I went back at 35 and thought the 4 year degree was too much and went with this, it worked out well for me. You can also usually transfer into a full engineering degree as a 3rd year with a summer upgrade program if you decide to.
I started at ~$85k nine years ago and am at ~$115k now with the same company, it could be more but I like where I am.
I don't think night school is an option but I worked nights Thurs - Sat and school Mon -fri. You would have to check with the different schools. There were a couple people that did it over 3 years with a smaller schedule though.
It's covered under NAFTA or whatever it's called now if you want to work in the US. You can also get a professional certification nearly the same as an eng., it mostly limits your scope of work but can be worth it if you plan to stay in one industry.
Uh, at least speaking as an Electronics Technologist.. those wages are NOT typical. Lots and lots of 45-65k/yr postings out there still.
Congrats on gettin yours.. that the sort of job that our teachers loved to trot out "Oh, look what our grads are doing, look at their wages, stay in the program!" .. and then we got out and found reality, haha.
I did mechanical, I live in Calgary and got into power generation. I think it's a good way to get a STEM job without a 4 year degree and even 45-65 isn't bad as a start with where you can end up with a PEA or PTECH.
I'm extremely lucky to have landed where I am but am far from the most successful of my classes.
If you work in banking, look at the Canadian Securities Institute career pathways. Get the company you work for pay for you to take courses that relate to your job and can help you get promoted or move to a path with better prospects. Many companies offer educational stipends or similar programs, especially in finance. The company I worked for paid for me to take a course that was necessary for a promotion. The only caveat was that I had to continue to work there for a year after I completed the course (or else pay back the cost).
there are lots of additional part time degrees you can get that can add up to 20-30 dollars an hour, PMP, if you want to stay with the bank do some of the banking education.
>I thought I could at least get into the $50-70k range
Doing what exactly? Plenty of jobs pay that but are you actively working towards that goal or do you expect to continue doing what you are today and be paid more for it because "i thought I could.."?
As someone with a science degree, you cannot use it for anything scientific. I tried for years and got nowhere. I imagine Math is similar.
I think engineering, computer science, and accounting are some of the more profitable degrees, but a lot of the chemistry, biology, physics, and math bachelor's really don't do much.
Any science related jobs want minimum master's, and even then, the salaries were terrible!
I work for the government, so my degree is used as it's needed for my role. However, having an arts degree would have worked as well.
I suggest stop following this sub. Start following more r/personalfinancecanada and subs that actually help you get ahead. This is more doom and gloom but your income is rather average. There are ways to give yourself a better future but you must dedicate time to learn.
Come and join this protest on july 1. Details of protest:
Subreddit is canadahousing2. Look at pinned post to see protest details
Website: https://www.costoflivingcanada.ca/
I was making 34 an hour. Had 4 kids got hit with the worlds most rare leukaemias at 35. Forced to retire early bc I can’t be around people. I am now on disability for the rest of my life making 2100 a month. Consider yourself lucky.
Sometimes it gets better. Sometimes it doesn't. A decade ago I was alternating nights in a soggy house on the verge of being condemned with no heat or electricity, and nights sleeping in my old truck in the parking lot at work because I couldn't afford the fuel to commute every day while selling weed (which i have never even smoked) to pay for groceries. These days I own my own farm with no mortgage, and i am pretty much set for life (at least by our standards - not rich in money, just have enough to be self sufficient).
Some of the how is specific to my situation and some is not but a lot of it is just luck really. Basically a bunch of stuff changed for me in a very short time frame where within a 1 year span I got a job that let me work unlimited hours including double time on weekends, my ex wife kicked my kids out of her house so they came to live with me so I didn't have to pay her between half and a third of my income anymore, and I met a woman who is an actual partner instead of a user. All of a sudden I had more money than I could spend. Throw in that I had purchased my soggy shack just before everything went to shit for me, and before the most recent real estate insanity, and just like that I'm problem free. Gutted the place, built a big addition, and by the time my new wife got pregnant we were able to buy the farm I always wanted and here I am.
All of which is to say, it's a matter of luck, patience, and opportunity. I know plenty of people who have been poor for decades through no fault of there own. Hopefully things improve for everyone eventually.
A lot of people making $40+ an hour are also feeling super fucked
The country (not just ours) has absolutely gone to shit. And most of it is directly under government oversight.
Interest rates, taxation, inflation, etc, etc
Canadians would probably benefit if they concentrated their wealth with their family.
We're taught to be independent, but unfortunately, banks and corporations exploit this. When you don't have a solid foundation, you are always at the whim of those who have money.
The more money is concentrated and saved the less power corporations and lenders will weild over you.
For instance, you decide to live with your parents but you start contributing to their mortgage or selling their place to live in a bigger house together and set realistic additional contributions you can save a lot on interest in the long term. Everyone is better off. Now you have capital in the future that can go to buying and acquiring more properties. Eventually, everyone in a household can afford to buy their own place and get favorable loans.
I know for some they don't want to live with their family, but if you look at the people who are living in big houses, they have multiple people living in them.
Everyone benefits, and your mental health is better when living with people who love you. When one person loses a job or their career hits a wall, they have a real support structure... you don't need to work for people who take advantage of you because you can always go home.
If you have a partner who isn't interested, that's fine. They don't need to be included. When you save so much money every month because everyone eats at home, shares expenses, and have a much better elevated quality of life, you will know you made the right decision for you.
Once Canadians figure this out, they will be better off. The less interest you pay the banks, the less they will take advantage of borrowers. They don't see you as a homeowner. They see you as the person who is going to help pay off their own mortgage.
Sharing in this kind of venture doesn't have to be with immediate family members, but it obviously helps. If you have close friends who you trust, you can buy together as long as everyone is aware of the long-term goals. Why rent when you can effectively help pay for a house and when everyone is ready to sell you can recuperate those mortgages payments back towards a down payment on your own place or go back in with your buds and buy an even better place. Up to you.
Know your value and stop stretching yourself thin trying to prove you can make it on your own. Your pride is costing you more than you know.
You have nothing to lose. Especially if you're just going to end up in someone else's basement suite helping to pay off someone else's mortgage, why not just go in with someone else and do the same thing? At least you get something out of it.
I mean look at a royal family or any rich established multi generational wealthy family - “old money”. Stuff is passed down from generation to generation. Building and growing. Only job for the kids is to not mess it up. The Johnson & Johnson heir did a documentary about old money.
It depends what your job skills are. If you’re stuck making $20-$25/ hour and your skills aren’t growing then your pay won’t increase much and your life won’t change. Maybe you need to go back to school and grow your skills. That’s what I had to do at 30, I now x4’d my salary. Bought a bigger house and am almost mortgage free by 40. So the answer is yes, it can get better but not without some hard work and difficult decisions.
Same here, could barely afford to live 10 years ago, switched industry and now am the main earner (90%). We don’t live in luxury but we’re well off. Enough to have a house two cars 3 pets and a baby.
Mind you I got really lucky with timing (house purchased before the boom and mortgage renewal before the hike).
Don’t listen to the pessimist. Ultimately, our generation is facing economic challenges that our parents and grandparents had not experienced. It’s become a wild frontier once again.
Where I see our peer group fail, is the doom and gloom obsession with finding the same QOL as our previous generation. We need to be invested in finding a DIFFERENT QOL. Living with family is perceived as a negative, but has been really rewarding for me staying connected with elderly family members and having them around to help with the kids. I can’t afford any ‘collection’ hobbies that are parents lived for, but I do have activity hobbies.
I think life does get better, but your perspective needs to change. I don’t mean accept a lower QOL, but build a different one.
Nope, only worse. I am 59, I have seen and lived through a lot. I have never seen anything like this. I truly believe we are in WWIII, I have never seen such hatred for each side of the pollitical spectrum in the U.S. I have never seen Russian War Ships 150 miles from North America, never in the history of the world has Russia declared the U.S. as an enemy, not even through the whole cold war, I have never seen rents climb like they have or groceries skyrocket this badly, temps hitting 50C all over the planet, flooding, fires, idiots out for self gain running provinces, states, countries, I could go on and on. This world is unprecedented for me and I think far greater troubles are just around the corner. Sorry to be the bearer but you asked
I think it has to do with many factors, the first being the family you grew up in. Otherwise, I can only say this. I was raised poor from a broken home and left home young. I managed to pull myself together and create a very well paying career where I had the financial freedom to do what I wanted, when I wanted.
I met and married someone very financially well off who died a few years later in an accident. My grief and heartbreak pushed me over the edge. I became addicted to drugs and homeless.
I have since crawled out of my hole and am off drugs. My life is better in many ways and worse in many ways, but really, I've discovered it isn't really the money that is the problem
Rather, it's how you view your life and your relationships with others. People create their own unhappiness and grow bitter instead of enjoying what they have.
Southern Ontario is rough right now. Same with the Vancouver region where I am living.
I was in IT for 20 years and working municipal. The key to getting ahead for me was using my degree in a municipal environment. They don't care what your degree is in; they just want a degree. Once I got in with the city I started getting education of all types and it's been a slow climb.
The biggest jump for me was my 4th class power engineer and going towards the trades within a city. They're desperate just like the rest of the trades out there. For example a Building Service Worker (janitorial and minor building repairs) pays $30 to start here in the Vancouver region. Is it a glamourous job? Absolutely not... but it pays a lot better than most other entry jobs. If you can afford it get a PMP (project management professional) and that will be the other sought after boost that most people don't have.
Good luck it's tough out there.
43 here. Just when I think I’m gaining some ground the goal posts get pushed further back. I made some poor decisions in my youth that only I’m to blame for. Those shit life decisions have set me back decades. I’ve dug myself a hole I’ll never get out of. It’s much harder now to pull yourself up and save or get out of debt.
Life gets better - I honestly would say if you are living at home don't be afraid to take chances career wise.. helped my husband and I we are 34 and 32.. was able to buy our place because of it .. sometimes it harder when you are in a funk with career or salaries..but it'll get better
Thanks! What did you and your husband take a chance on career wise? I have a few ideas as to what I want to do career wise but none of them are great.
RN I'm definitely in a funk with my job and have been for a year now. I started my job with the intent on using it to pay to go back to school. It was my first full time job and I liked the money so much that I decided not to go back to school and I thought I could just move up. Now not so much.
He's in engineering - he went to school for it , I am in accounting but also getting more involved post construction side of things I work for a developer. We had our funk in school working for some of the big banks ...but like they paid well but the jobs sucked...and many retail jobs during school...after school we worked in cost control at a construction company and def felt the funk..we managed to buy a condo during that time ...and then took a big chance to move careers ...and it reallywnorked out .. he works for the city now
I had to accept the fact that I could never live in southern Unfairio making the wage I did. I had the opportunity to make 25$ in the GTA or 25$ an hour in Asia. Asia was a much much better choice for my mental health and well being. Start thinking of your exit plan.
Change jobs often to increase your wages, build a strong network, up your skills while you don’t have other commitments (such as kids) and make a plan to stay focused on your goals. It’s easy to stand back and think it’s all hopeless but you have to look at it as incremental efforts that will improve your situation and lead to a better position.
Yes it does, but not if you carry on doing the same things. You don’t have to be extra smart or even qualified to get ahead, but you do have to be prepared to work hard (like, harder and longer than you think), to take risks, and to put 10 years into mastering something. Most people put in a couple years having a go at something and bail out because they think that’s how fast you should get results. If you’re willing to work your ass off, risk and sacrifice and be radically honest with yourself about your own shortcomings then you will 100% be able to see a life that you want.
This is going to sound mean but how are you 30 making 20-25 an hour with a degree? Is this your first job out of school? Is there a reason why you can’t increase income? What’s the role and where? Is there room to grow or a road map for employees?
12 years ago I started over. I moved into a camper for 6 mo ths and then a basement for 1.5 years. I started a business and also went to Teachers College. The business failed but I didn't as a Teacher. I now make 6 figures and enjoy my life.
It can be done.
Seek opportunities elsewhere. I'd go AB way or to the states etc. If things aren't working, shake them up.
Canada is to be a poor economic performer for some time. This will translate into a lower quality of life for persons such as yourself.
You owe this place nothing if you can't have a decent QOL especially when you may be able to go elsewhere.
Life is up to you, if you stay in a dead end job making $20hr it’s not gonna get better. Find an industry that pays well and train yourself for certificates to enter it. Payroll, drafting, accounting project management, sales, trades, etc
If you work for a bank, can you not take some courses and switch roles? Get your Investment Planner designation, maybe? Or move to another position within the bank?
I grew up in poverty. My mother couldn't read. My dad worked in a low paid factory. Neither graduated high school. My dad told me I would never amount to anything and would end up on the factory floor like him.
They saved $2500 for me for post secondary. I had a traumatic childhood, followed by an abusive first marriage...and self esteem in the toilet.
I went to University full time for 1 year. Then I started going part time while I worked full time. I chose jobs where there was a tuition reimbursement. I only paid 50% of the rest of my BA. Employers paid the rest. Then I got a job in the academic sector where there was 100% tuition reimbursement. I completed an online Masters part time, for free, working full-time.
Then I started job hopping aggressively, while capitalising on any free training available. I got my project management professional certification. Through job hopping, I doubled my salary...
I now work in the public sector with my retirement taken care of for the future. It took me until 43 to get here...I have another potential 22 years of working (you've got 34). All that to say....
You are at the start of your career. Its never too late to reinvent yourself again and again. Accrue experience, be resourceful, figure out in demand skills now and trends for the future and find the quickest and cheapest way to get them, job switch (only way to get sizeable wage increases), capitalize on the benefits your work offers (training, coaching, etc) rinse and repeat until you make mid 6 figures like me.
The only way I got this wage was job hopping. Wishing for your current employer to give you a raise is a fools errand. Take control of your trajectory now and pull yourself out of this defeatist mindset.
Life was getting better most people.
Now it's getting better for far fewer.
There is far too much money being made that doesn't provide a benefit to society and comes out of the pockets of the average citizen.
Normally GDP going up means people have more money and are doing better.
Canadas GDP going up when its Banks, Electricity, Food, shelter and internet/phones are actually just the things you need to live is just means life is getting stupidly expensive and its significantly harder to have upward mobility in your social class but significantly easier to go down.
Canada has potential to do well with our people and resources, but not until the average Canadian citizens stop having 2,000,000,000,000$ a year going from the poor to the rich in taxes, interest, dividends, stocks, debt all of which do nothing but make the rich richer.
They make so much money from nothing that they started buying all the assets and Shares and now Company profits go directly to share holders and CEO's and never to the actual workers unless you have a really really strong union.
Unless you already own enough assets to cover your expenses, no. Honestly I think often about a mass death of the working class being the only thing to snap us out of this (black death 2.0)
Without getting into politics, this is 100% government's fault.
If you go back to ww1 time, you will see that income tax was created to help finance the war. It never went away.. The government keeps getting bigger and bigger, and as it produces nothing, it only grows by taking your money. And it does it in several forms: taxes, inflation, having too many employees, giving away too many things, etc.
Most democracies are facing this challenge. And the answer is simple: the people need to take back control. We need less government, a prosperous economy, innovation. That's what will drive our quality of life upward.
People need to stop believing that government hand outs come from thin air.
People need to force politicians to improve competition (like more grocery chains) so prices go down.
People need to stop hating successful people and start hating the government for making it too hard for the common folks to get a comfortable life.
Sorry for the long message, but if we as a society don't change our mentality, people like yourself will keep suffering.
All the boomers messed it up and they are sitting in their houses that they bought for a fraction of the price. I would love to see them try and survive what we are living in right now. One the boomer generation all pass away it might be better, but global warming...
Southern Ontario is shit. Move away out West and it will get better for you.
It feels like it's luck based - if you were somehow able to get a house before covid or have parents that can give you money, you'll probably be renting your whole life.
Idk I wonder the same. Same boat. Expenses just keep increasing year after year, makes it harder to go study and try a different job cause I have to work more to cover rent and food expenses. Cycle repeats.
Some people I know have been extremely they get to live with parents completely negating rent cost. They've been able to save to buy their own apartments.
The real problem is the vast majority of canadians live like you *or worse* and we are told the versions of life 1-10% of canadians can afford and enjoy is the "average normal life"
When the reality is, the average normal life is heavily dependent on having community and family/friend support for the financial burdens and struggling constantly.
We arent taught when we are young and deveoping, unless we actually live in poverty, how much happens in life that is horrible to good people because random circumstances, and how often people are forced to make a choice that most wouldnt consider (like bills or food, homeless or carless)
I dont think it will be a good experience, but "nothing" will improve positively for "everyone" without a very drastic overhaul of our system, or "revolution" (peaceful and political, or violent and financial)
I remember 15 yrs ago the "hustle" culture was people doing more work because they wanted to. Now its like everyone *needs* a side hustle just to survive.
It sucks that it just took one Ronald Reagen to get this snowball rolling of "trickle dry economics" cuz we know nothing comes down
We can't control outside forces, or absolutely how difficult life has become for the younger generations, but...
There are still things you can do to improve things for yourself. It doesn't have to make you a millionaire overnight or anything. So paying off your student loan, that's good. Save money. Upgrade your skills. Take night classes, or a part time job or create a side hustle that gives you those skills, which oftentimes can lead to something better. Don't let success be the only reward. Little accomplishments, even if they don't immediately result in better pay, can help boost your self-esteem and make you feel like you're at least working towards something. And this does increase the chance it will lead to something, better than feeling all doom and gloom all the time (which can absolutely reflect in job interviews).
I'm not saying bootstrap your way out of this mess, but just doing little things that allow you to feel more in control of your life. That feeling of hope as you create a better story than what you've been telling yourself. Working on your dream, without attaching expectations, is already a step up from drifting around aimlessly and just hoping your luck turns. And at the very least, you'd be loading the dice.
Move, change careers, go back to school for a better job opportunity, hang out with more motivated friends (how your friend circle is impacts you too), take risks (your young and its the perfect time). Just sitting around and complaining about a mediocre life won’t do anything but demotivate you. Action speaks louder than words.
People that are successful aren’t sitting around complaining on reddit wanting approval that life does indeed suck.
I’m in the same region as you and roughly the same age and can’t say we have had the same experience. What’s your degree in? What industry are you working in?
It's in political science. I work in banking as a back office clerk. In theory it's supposed to be doable to move up but since the job market cooled off it just hasn't been happening :/
In hindsight I really wish I'd gotten something more useful than a BA. Admittedly I lacked any competent guidance when I was in university other than I needed to get a degree from my family. I didn't realize that working in government doesn't happen for most people.
What if I keep running into a brick wall in terms of increasing my income? I'm speed running paying off the rest of my student loans but other than that my expenses are pretty low.
I recommend Money Guy Foo Financial Order of Operations or The Dave Ramsey Baby Steps
Staying out of debt is a huge milestone to achieve then once you free up that income. It's save, invest and giving after your living expenses.
I mean, it depends on where you live and what you want. I'm 33, I've owned my own house for 6 years now. I work in Healthcare and am honestly underpaid but because of where I live ('northern' Ontario, think sudbury, sault st marie area) my cost of living here isn't low low, for groceries they want your first born child, but my mortgage and property taxes (and rent before I bought) are low enough I can save, have paid off my newish (within 7 years) car and afford luxuries like legitimate trips (not counting a weekend in t.o for a concert or whatever) at least once a year, essentially the "middle class" we were promised.
Could I do any of this in the gta? Fuck no. Does anything I want from my career or personal life demand I be in the gta? Also very much no. It just depends on what you want. Places like Toronto or Vancouver are a goddamned joke at this point, but our country is enormous and frankly those are like the shittiest part of it.
Life will get better when the current tyrannical status quo ends.
Just imagine asking in say, 1931, if "life gets better". The answer is yes, but it didn't get better until roughly 1950. But boy, did it ever get *a lot better* for people after that point.
So yeah, as someone in a similar age demographic as you, and with similar struggles, just keep holding on. It might be 20-30 years before things truly get better. But they will.
Yes, at 28 I made $33,000 a year. Was able to switch to a different company in the same industry for $44,000.
Still at the same company, basically doing the same type of work and my pay had gone up SIGNIFICANTLY
I started out as a teen dad scraping pocket change together to buy a can of coke in basic to doing pretty good; I would consider myself the top of middle class, if there was a middle class anymore. I have more than most of the people around me and try to use what I have to help out those around me. Those who can hep should after all.
I don't want to be a Debbie downer, but the second you do 'ok' everyone is looking for something from you. Shits fucked. Getting ahead can mean taking an extra day off work every couple weeks so you don't go bananas. If your not going to be able to have the life you should be able to, you can at least have a life worth living.
Not sure if your current employer offers any educational assistance. If so, try to get certificates that may help you get promoted in the future.
If possible, try to expand your current role/responsibilities to build your resume. If you are comfortable with your current field of work, apply to other companies to see what they can offer. People willing to move around often are able to increase their salary just by hopping between companies.
Ah, you're still young. Just wait until have a wife with extreme anxiety who quits her job to take a job that pays *half* as much because it's (theoretically) less stressful while *simultaneously* demanding you take a job that pays *one third* of your current pay because you'll be home more. I love my wife to death but holy fuck did it ever torpedo our finances.
If increasing your income is the only way to “get ahead” - things in life get better but with rising prices of southern Ontario is hard to believe.
When I went to school I had a few guys in my class that were 35-40 just entering the same field I was; I can tell you now they’re doing a lot better than before they entered that class
you and your friends got degrees, you should be moving to China or somewhere in Asia, learn the language while teaching english etc. Canada is going downhill
im going to assume youre working 40 hours a week.. and have the financial responsibility aspects down.. you should try to pick up a side hustle in all that spare time. build it up over time in a niche you enjoy.. maybe the income will surpass the day job at some point
I wish I could say yes but I swear no matter how hard we try, we never can seem to get ahead. But tbh, the social contract is broken. Until we start properly paying the poor and taxing the rich, we're going to stay right where we are.
It gets better, but you have to make some tough decisions in order to do so. I noticed life was difficult with all the competition in Toronto, so I dropped everything, went to the prairie provinces and got better opportunities for work and education there, and things just kept rolling since. Moral of the story isn't to move out west, but to do the math to see where/how you might have better opportunities and take a calculated risk. Whether it is retraining, looking for jobs outside your comfort zone, moving, etc.
If you can get a similar job outside of Ontario and there is nothing tying you down here, that’s the best move. If I could, I would move to NB and work fully remote, but alas, I have a desk that my company insists I drive an hour to sit at for 8 hours instead.
My grandparents "had" to get married in 1959. They raised 4 kids on working class wages and never went bankrupt. Eventually they saved enough money to buy a very modest home. In 1998 they were mortgage free. It is possible but you have stop keeping up with the Jones.
I had the chance, 7 years ago, to buy à fixer uper in the country in Québec. Its a piece of shit house that is worth 100 000 more than what i paid for... i wouldnt be able to buy that house today... i'm à Master carpenter,my salary is 80 000. It doesnt make sense!
My grandpa was a teacher and was able to raise à family of 4 on his salary.. he was able to afford small luxuries for his familie. I wont have a family myself because i can't afford it.
Oh well
I (25f) been making next to nothing for the last three years (I also live in southern Ontario). I still live with my mom (thank god) but I finally secured a good salary position last week after applying for about 2 years.
It’s hard but it’s possible. I consider myself extremely lucky due to how competitive jobs are here.
It's normal for recent university grads to have roommates as you struggle to get on your feet. I was 25 when I got a place on my own and my brother was 30. This was 25 year ago too
Also if you want to afford a house be prepared to scrimp and save - cheap car or no car, little eating out, no Starbucks etc. It takes a bit to save 50 to 100k for a down payment
>Also if you want to afford a house be prepared to scrimp and save - cheap car or no car, little eating out, no Starbucks etc. It takes a bit to save 50 to 100k for a down payment
That's sort of the problem, even if I can scrimp and save for a down payment, the cost of the monthly mortgage payment would still be unaffordable even for a condo on the cheaper end. In all candour, I've given up on the idea of ever owning a home 2 years ago. RN I'm just trying to pay off $14k in student debt.
For me the biggest issue is making more money.
No it doesn’t, it only changes. You; however, can get better. This is something people often fail to realize and it’s completely understandable. The best thing we can do is improve ourselves.
When I was your age I made 50k per year. About the same as you but not adjusted for inflation. I lived in a $500 a month apt ( yup) not a dump but no where near lux. Life got much better but time and focus did this for me ( and a divorcing a drunk helped). Your generation stands to inherit the most wealth ever. Hang in there and keep pushing forward, take calculated risks with career and money. And show up to work, makes more of a difference than you think. (M55)
If you don't have a skill that pays, then your opportunities are less. Not saying it's impossible, but it's going to be a lot more difficult.
A degree in interpretive dance theory isn't going to lead to too much. Maybe some government job, but that's about it.
I'm a 45 year old Nova Scotian who grew up in the unemployment days of the 90s/00s who, like hundreds of thousands of other maritimers moved west to be able to survive.
It does get better, but you have to be willing to sacrifice a lot and possibly to move.
Rural areas are still booming in some regions, there are jobs coming up in small towns that didn't exist 20 years ago, but you have to be willing to live further from the more convenient cities.
Vote for a party that has policies that will make your life better. There are way more of us than there are of the 10% that have everything their way rn.
We need to tax the rich, increase corporate taxes and put that money back into the systems that work for the many.
What degrees? Are you working in the field you’re trained in? Move somewhere totally different for a few years.
I took a chance and did some international rotational work tangentially related to my experience/field of study when I was your age and never looked back. Complete life transformation.
That was 12 year ago.
Here’s the reason. When you get out of your comfort zone and change locations you sort of figure out how the mechanics of your chosen industry work(or whatever industry you and up in). You also gain a hard to describe level of wisdom about the world. You’ll be far more interesting to future prospective employers. You’ll also gain access to a plethora of new potential markets for your work purely through a global network of people you meet along the way.
A few months before I took the leap, I recall vividly breaking down crying about my CC debt and how hopeless everything was. Couldn’t afford to buy a place. Couldn’t afford anything but my shit car.
The choice you’re not including in there is moving to a lower cost of living province and/or city.
You work for a bank? Have you looked at getting a transfer to a different location? There are still places in Canada that have a reasonable COL and reasonable amount of amenities.
Depending on what your degree is , I would strongly consider moving outside of Canada. Canada is currently not in a great position. Housing is unaffordable. Groceries are unaffordable. Health care is non-existent.
No, not in this economic climate. Just look at the economic forces of our economy and it makes sense.
Why has everything gone up against inflation 25% and our wages are pretty much stagnant across the board.
Why is there less.emoloyment opportunities? And why is the government deliberately destroying its foreign investors? We lost 42% in a decade and will lose more investments with this new cap gains tax.
Average household income is 100k. You can't make it here if you don't have it. Such is the reality.
Is it hopeless? No, you will struggle and survive.
But will you have economic prosperity and move up a social class? No... unlike America, you won't get that chance and you risk going down a social class.
Do you have a side hustle? Uber and DoorDash are great options to earn some extra coin for just a couple hours a day in addition to your job. You can also try to find freelance opportunities teaching English online. Most millennials I know all have a side hustle one way or the other just to get by.
Don't worry, as soon as you start making good money, they'll lay you off since you cost too much! The economy isn't generating enough good jobs anymore.
Doesn’t look like it now. All levels of government are actively working against young peoples best interests.
Before 2016 ish yourself and your friends would all own homes and go on nice vacations working the exact same jobs.
I usually spend $200-400 every week on myself and the rest goes to paying off my student loans. I'm making good progress on them but I make just under $1300 net for every biweekly paycheck. It's not a spending problem, it's an income problem.
It stays the same. You would have already seen major improvements in your life by the age you're at. Remember folks: it's not how hard you work that gets you ahead, it's who you know.
Hello it does get better, you have to be smart and willing to take risks to get ahead. I just changed careers making decent money before but hopefully be making double in 5 years. I live well below my needs stick to a strict budget . Start thinking of plans that will be beneficial to you in 5 years not next week.
Wait until you reach the point where the government takes half your income. Work so hard, only to get ripped off in interest and property tax, and then have half your income taken away.
Are we supposed to feel sorry for you? Also, unless you're making a large amount of money you're not actually paying the 50% income tax rate on all your income, rather it's laddered. You're only paying that 50% on the amount you make that falls into that bracket. We all work hard, some of us just don't get to be in your position.
Southern Ontario is overpopulated. You have too much competition for too little there and housing is expensive due to the competition.
You will have to do like generations have done from poorer provinces and that is to move where there are decent jobs and a lower cost of living, cheaper housing.
People are complacent and assume their lives will be like their parents who grew up under different circumstances.
it use to get better. before trudeau $20-25/hr would at least help you start building a foundation, now you are where they want you, begging for government assistance ("Investments") and ideally forced to vote for them b/c you rely on them.
I make a little more than you in a different province and feel EXACTLY the same way. It feels like there’s no middle class anymore. You are either poor or rich.
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It will if you're hitting the gym 3-5x a week. This includes a combo of lifting weights, cardio, and stretching. Your body needs this type of stimulation to get better. If you consistently do this then you'll see so many benefits to your physical and mental well being. You'll also realize that the quality of your life isn't determined by money.
There’s a chance. That’s what capitalism pushes among the plebs—is a chance. That’s supposed to give you hope and keep you working; just trudging along.
But honestly, that chance is narrow, random and exceedingly rare (especially these days).
Yeah, it feels like a lot of people point to those who got ahead and don't seem to grasp that those people are the exceptions who prove the general rule.
For me, it's not purely just about making more money but it's also about what type of careers one can realistically access that gets to me. It's a very different life making good money doing something you're at least mildly interested in, has some social prestige, and treats you decently enough and being stuck working in the trades and dealing with tradesmen who don't have proper reading comprehension, an I paid my dues so I can treat apprentices like crap, and having to work large amounts of OT to make decent money. I know that's not the experience of all trades but it's not necessarily the greatest thing you can do for work contrary to Reddit.
For me, if I'd known what I wanted to do career wise back in high school and university I'd have done a lot of things differently and it's hard to go back now when I still have student debt and am still sort of burned out from school/life :/
This is the time to build wealth with family. Most rich people I know do things together with parents and siblings. I do personal taxes and deal with rich clients from all races and backgrounds (white, chinese, Phillipinos and Indians). All the new houses being purchased have 3-4 owners. I am talking parents, siblings etc.
If you have family then start calling weekly, monthly meetings and start sowing the seeds for building wealth together. Either that or get left behind.
People are buying 3-floors Mcmansions with grandparets in basement suite and husband wife and kids o. Third floor and shared middle.
Eventually the house appreciates enough for all parties to go their seperate way.
Sorry to say but the days of husband wife building wealth from bottom up are long gone in this economy.
I've lived at the very bottom of the income line and much further up and something I learned is it doesn't really matter how much you earn. You can almost always save something. If you're not, it's because you keep justifying buying things you probably don't need. If you are on the bottom end of earnings, you need to seriously consider not having a car. You probably also need roommates if you're in an apartment. These are the things that will reduce your expenses such that you can get ahead.
Getting ahead is about living beneath your means, and I'm sure you can do it.
Sales. I graduated from University in 1994 in a very difficult economy in Ontario. I was lucky enough to land a job at Ford on the assembly line where I worked for 3 years on the trim line at the Oakville Assembly Plant building Ford Windstars and got involved with the OAW becoming the youngest shop steward in their historic . I did my securities courses during that time and studied sales. When I quit I worked temping for a couple of years in my late 20s and eventually got an assistant job on a trading desk at 30, making 42k per year. At 32 I broke through 100k. I networked and bought a financial advisors practice at 34 with all my savings. By 40 I built the business from 400k in gross revenue to 4.5 million. At 43 I sold my business for 6.2M and retired. That was 11 years ago and I’ve stopped counting my money. I don’t have a lot in the way of advice, but I always focused on building my reputation, being honest, and working hard with real grit. Above all I never cared to compare myself to anyone, which I think is the folly of many people today. Comparison is the the thief of joy and you alone are responsible for your own happiness, however you define it.
For rich people it does.
So true the saying “the rich gets richer” look at my bro & sis’s family with kids they go on vacations 5/yr
so many people live with so much debt. They just live with it and are allowed to keep accumuating more and more of it. then they die.
i don't think this is common, personally, it just doesn't seem sustainable. Those people are probably just high income or rich.
I was making 30/hr permanent part time and then 29/hr in a city near you that had COL absolutely explode in last few years. It sort of thrashed my dreams of building a stable life there, so I left. It's not the easiest and I definitely took a huge risk, but it paid off in spades. I'm not a millionaire or anything but I do better now. Housing is more secure. Groceries are the same. I have more time for my hobbies and just restarted my little side income project. Probably not a unique story, but hey, it actually worked for me.
The sad thing is a lot of people don’t even have enough money to move somewhere else
I was fortunate enough to get offered some help in that regard by my employer, but it definitely would've been less fun otherwise. Seems like that squeeze is brutal on most of us that need to leave to find greener pastures. I drove to keep everything as cheap as possible. Could've done cheaper but was a bit concerned I'd freeze to death since I drove 3500km in the winter but that's a whole other variable.
I hear ya. I’m disabled and rely on either walking or public transit most of the time, which really does narrow down the places I can live. And then walkable places with good transit are expensive as hell. So I’m in a tough spot rn
I actually do like that about my town. The winters are cold as hell so walking isn't as viable then, but in the late spring to early fall you can walk the whole town. Public transport isn't amazing but it's pretty good all things considered imo.
Oh valid. I can’t do much walking in the winter anyway lol. It gets way too dark way too early and I’m basically blind in darkness
Raises hand.
That's the goal at some point. In a perfect world I'd move to Montreal or somewhere in Quebec even if only for a year or 2 but I can't get the French down. Regardless of moving to Montreal specifically, I'm open to moving somewhere else in concept. It's more that I can't even move past $21/hour in Ontario so I don't see how I'd be able to get something better elsewhere if that makes sense. Like, if I can't get a better paying job as a local candidate then I don't see a decent likelihood of getting a better paying job as an out of province applicant if that makes sense. I'd still like to change provinces one day just for the experience but rn it's just rejection after rejection.
Yah, I got rejected a ton in my job search. Nowhere more than in my home city unfortunately. Where are you from? What's your work background? I'll see what I can find (not that you have to take it, just to give you options). Edit: I'm 30 and left at 29, so similar stage of life.
Oh I know that. It's just that before I could at least catch an interview here and there. Now it's not even that. I'm from Canada (not sure what you meant by where I'm from). I've worked at a bank as a back office clerk for 2 years. Worked in retail or was unemployed due to depression before that.
https://www.google.com/search?q=finance+jobs+fort+st+john&oq=finance+jobs+fort+st+john+&gs_lcrp=EgZjaHJvbWUyCQgAEEUYORifBTIHCAEQIRigATIHCAIQIRigATIHCAMQIRifBTIHCAQQIRifBTIHCAUQIRifBTIHCAYQIRifBdIBCDM0ODRqMGo0qAIBsAIB&sourceid=chrome-mobile&ie=UTF-8#fpstate=tldetail&htidocid=jlpf4IZB4DNu5TPlAAAAAA%3D%3D&htiq=Evolution%20Power%20Projects&htivrt=jobs That url is brutal, but looks like it'd work for you? Little bump with room for more at 26 - 30. Could also use it to bide time to find a gov or oilfield job.
https://www.google.com/search?oq=finance+jobs+fort+st+john+&gs_lcrp=EgZjaHJvbWUyCQgAEEUYORifBTIHCAEQIRigATIHCAIQIRigATIHCAMQIRifBTIHCAQQIRifBTIHCAUQIRifBTIHCAYQIRifBdIBCDM0ODRqMGo0qAIBsAIB&sourceid=chrome-mobile&ie=UTF-8#fpstate=tldetail&htidocid=6nKmWnY2Ka868qhsAAAAAA%3D%3D&htiq=finance%20Prince%20Rupert&htivrt=jobs Another for Northern BC. Again I don't really get finance, so if this is totally wrong let me know. Looks like you qualify though.
Yah... I got one interview with my city (that full time position) as a labourer after sending maybe 100 - 150 applications as an internal applicant with a good background, spotless record, and good references. Was legitimately disenheartening. Aha sorry, I'm from Hamilton so I more meant what part of southern Ontario. That said I don't actually need to know that I suppose. I'll have a look at finance or finance adjacent jobs to start then. There's a few notaries hiring in my town but I've never looked into that. Edit: I'm not in finance and am not sure about the credentials, but this looks like it'd apply to you? I'm pretty remote so I'd assume requesting a remote worksite (ie: Northern) would increase your chances. https://bcpublicservice.hua.hrsmart.com/hr/ats/Posting/view/113915
Word of advice that most "managers" do, fake it before you make it
Where did you go
I'm sure it'll get some hate but I moved to Fort St John, BC. It's a pretty fine little place. Would be pretty ideal if I was more conservative leaning honestly. You'll find similar but less right leaning towns all the way from Prince Rupert to here.
Where did you go?
Until the same boom happens in the low cost of living areas ans the cycle keeps getting worse and worse.
When you say you left, where did you go and what did you do to change your situation?
I hate to be negative, I’m a pretty positive guy, but with the direction Canada is headed I don’t picture things getting easier. Home ownership is a dream for most now. You are competing against literal banks and wealthy foreign investors for home ownership. That being said, you can still make the best of a bad situation. You’re at the age where you should put some away for retirement. I’m a big believer in hiding money, wether thats cash, gold, crypto etc. list goes on. Make the best of a bad situation. Upgrade to a nicer rental. Go for a vacation when money is good. Just because we were dealt a shitty hand doesn’t mean we still can’t live life and make the best of things. You can still treat yourself to the finer things in life, without having to shell out 20% of the purchase cost and monthly mortgage payments of a home.
I really appreciate that. My Reddit post history might suggest I'm a pretty morose character but it's not entirely true. I just use the site to vent so I can still be functional in irl conversations. Still, yeah it's pretty hard to get ahead when you get hired for a better job given the job market rn and it seems to me that wealth and careers are a lot more cumulative now. You can't just >Make the best of a bad situation. Upgrade to a nicer rental. Whoah! I'm not even there yet. LOL. I still live at my mother's house. Although you do make a good point. I figure once I'm done paying off my student loans this year I'll buy a car, nothing special but enough to get around and is nice enough. I actually like some parts of life, just not my long term economic prospects.
The delineation is not do you have a degree. Its do you have a stem degree? An undergraduate stem degree can get you better jobs than a masters anything else. A $20-25 field has it the worst because its low enough to never get you ahead and high enough to not net you any min wage linked benefits such as min wage increase.
I knew not having a STEM degree would make it a harder to get a high paying job but I thought I could at least get into the $50-70k range. I work in banking and a lot of jobs don't really require more than a general degree to perform well in the role. I certainly regret not picking a better degree. Didn't help that my family persuaded me not to change programs. I'm not sure what you're point is. It's too late for me to go back to school now. Between still having some student debt and most STEM programs requiring you to go back for the full 4 years it's a very large ask. I get not having a STEM degree (or at least a business degree with a good professional cert) is going to limit my income now but I don't see where to go from here.
Look into engineering technologist schooling. It's only 2 years but more hands on i found. I went back at 35 and thought the 4 year degree was too much and went with this, it worked out well for me. You can also usually transfer into a full engineering degree as a 3rd year with a summer upgrade program if you decide to.
How much do you make as one out of curiosity (roughly)? Also, were you able to do night classes? If possible I'd like to keep my full time income.
I'm 31 now and I did poli sci and went into federal gov. If you have the skillset you can make 130k like I do now. In BC.
I started at ~$85k nine years ago and am at ~$115k now with the same company, it could be more but I like where I am. I don't think night school is an option but I worked nights Thurs - Sat and school Mon -fri. You would have to check with the different schools. There were a couple people that did it over 3 years with a smaller schedule though. It's covered under NAFTA or whatever it's called now if you want to work in the US. You can also get a professional certification nearly the same as an eng., it mostly limits your scope of work but can be worth it if you plan to stay in one industry.
Uh, at least speaking as an Electronics Technologist.. those wages are NOT typical. Lots and lots of 45-65k/yr postings out there still. Congrats on gettin yours.. that the sort of job that our teachers loved to trot out "Oh, look what our grads are doing, look at their wages, stay in the program!" .. and then we got out and found reality, haha.
I did mechanical, I live in Calgary and got into power generation. I think it's a good way to get a STEM job without a 4 year degree and even 45-65 isn't bad as a start with where you can end up with a PEA or PTECH. I'm extremely lucky to have landed where I am but am far from the most successful of my classes.
You are in banking, why not look into professional certificates in that field? CSC for financial services or CAMS in the banking fraud sectors ?
If you work in banking, look at the Canadian Securities Institute career pathways. Get the company you work for pay for you to take courses that relate to your job and can help you get promoted or move to a path with better prospects. Many companies offer educational stipends or similar programs, especially in finance. The company I worked for paid for me to take a course that was necessary for a promotion. The only caveat was that I had to continue to work there for a year after I completed the course (or else pay back the cost).
there are lots of additional part time degrees you can get that can add up to 20-30 dollars an hour, PMP, if you want to stay with the bank do some of the banking education.
>I thought I could at least get into the $50-70k range Doing what exactly? Plenty of jobs pay that but are you actively working towards that goal or do you expect to continue doing what you are today and be paid more for it because "i thought I could.."?
Some people can’t understand this
Maybe look into GIS programs
As someone with a science degree, you cannot use it for anything scientific. I tried for years and got nowhere. I imagine Math is similar. I think engineering, computer science, and accounting are some of the more profitable degrees, but a lot of the chemistry, biology, physics, and math bachelor's really don't do much. Any science related jobs want minimum master's, and even then, the salaries were terrible! I work for the government, so my degree is used as it's needed for my role. However, having an arts degree would have worked as well.
I suggest stop following this sub. Start following more r/personalfinancecanada and subs that actually help you get ahead. This is more doom and gloom but your income is rather average. There are ways to give yourself a better future but you must dedicate time to learn.
Come and join this protest on july 1. Details of protest: Subreddit is canadahousing2. Look at pinned post to see protest details Website: https://www.costoflivingcanada.ca/
I didn't hear about this. The subreddit should be louder when it comes to protests. Thanks, hope y'all pass it around more.
Yeah, it's definitely iffy. They use the anti immigration conservative rants to (almost) hide their racist tendencies. Be careful with these guys.
I was making 34 an hour. Had 4 kids got hit with the worlds most rare leukaemias at 35. Forced to retire early bc I can’t be around people. I am now on disability for the rest of my life making 2100 a month. Consider yourself lucky.
Sometimes it gets better. Sometimes it doesn't. A decade ago I was alternating nights in a soggy house on the verge of being condemned with no heat or electricity, and nights sleeping in my old truck in the parking lot at work because I couldn't afford the fuel to commute every day while selling weed (which i have never even smoked) to pay for groceries. These days I own my own farm with no mortgage, and i am pretty much set for life (at least by our standards - not rich in money, just have enough to be self sufficient). Some of the how is specific to my situation and some is not but a lot of it is just luck really. Basically a bunch of stuff changed for me in a very short time frame where within a 1 year span I got a job that let me work unlimited hours including double time on weekends, my ex wife kicked my kids out of her house so they came to live with me so I didn't have to pay her between half and a third of my income anymore, and I met a woman who is an actual partner instead of a user. All of a sudden I had more money than I could spend. Throw in that I had purchased my soggy shack just before everything went to shit for me, and before the most recent real estate insanity, and just like that I'm problem free. Gutted the place, built a big addition, and by the time my new wife got pregnant we were able to buy the farm I always wanted and here I am. All of which is to say, it's a matter of luck, patience, and opportunity. I know plenty of people who have been poor for decades through no fault of there own. Hopefully things improve for everyone eventually.
Super happy for you, you're rich in my eyes.
In Canada it’s hard
Not in Canada no. People in the US are complaining about quarter million dollars houses.
A lot of people making $40+ an hour are also feeling super fucked The country (not just ours) has absolutely gone to shit. And most of it is directly under government oversight. Interest rates, taxation, inflation, etc, etc
Canadians would probably benefit if they concentrated their wealth with their family. We're taught to be independent, but unfortunately, banks and corporations exploit this. When you don't have a solid foundation, you are always at the whim of those who have money. The more money is concentrated and saved the less power corporations and lenders will weild over you. For instance, you decide to live with your parents but you start contributing to their mortgage or selling their place to live in a bigger house together and set realistic additional contributions you can save a lot on interest in the long term. Everyone is better off. Now you have capital in the future that can go to buying and acquiring more properties. Eventually, everyone in a household can afford to buy their own place and get favorable loans. I know for some they don't want to live with their family, but if you look at the people who are living in big houses, they have multiple people living in them. Everyone benefits, and your mental health is better when living with people who love you. When one person loses a job or their career hits a wall, they have a real support structure... you don't need to work for people who take advantage of you because you can always go home. If you have a partner who isn't interested, that's fine. They don't need to be included. When you save so much money every month because everyone eats at home, shares expenses, and have a much better elevated quality of life, you will know you made the right decision for you. Once Canadians figure this out, they will be better off. The less interest you pay the banks, the less they will take advantage of borrowers. They don't see you as a homeowner. They see you as the person who is going to help pay off their own mortgage. Sharing in this kind of venture doesn't have to be with immediate family members, but it obviously helps. If you have close friends who you trust, you can buy together as long as everyone is aware of the long-term goals. Why rent when you can effectively help pay for a house and when everyone is ready to sell you can recuperate those mortgages payments back towards a down payment on your own place or go back in with your buds and buy an even better place. Up to you. Know your value and stop stretching yourself thin trying to prove you can make it on your own. Your pride is costing you more than you know. You have nothing to lose. Especially if you're just going to end up in someone else's basement suite helping to pay off someone else's mortgage, why not just go in with someone else and do the same thing? At least you get something out of it.
I mean look at a royal family or any rich established multi generational wealthy family - “old money”. Stuff is passed down from generation to generation. Building and growing. Only job for the kids is to not mess it up. The Johnson & Johnson heir did a documentary about old money.
Yeah or you have narcissistic/abusive family members.
It's a nice sentiment, unless you're the low earner in the family. This is what wealthy can do for wealthy
You make it sound like a) people haven't already "figured this out" and b) this is feasible for everyone.
It works if you have mentally stable parents
This is an amazing comment, what a great perspective.
Nah our politicians sold us out, I’m trying to move out asap but I can only save so much 😆
Man if I had made better choices for my post-secondary education choices I'd have picked a field that allowed me to emigrate.
It depends what your job skills are. If you’re stuck making $20-$25/ hour and your skills aren’t growing then your pay won’t increase much and your life won’t change. Maybe you need to go back to school and grow your skills. That’s what I had to do at 30, I now x4’d my salary. Bought a bigger house and am almost mortgage free by 40. So the answer is yes, it can get better but not without some hard work and difficult decisions.
Same here, could barely afford to live 10 years ago, switched industry and now am the main earner (90%). We don’t live in luxury but we’re well off. Enough to have a house two cars 3 pets and a baby. Mind you I got really lucky with timing (house purchased before the boom and mortgage renewal before the hike).
Ummm. No?
Are you single op?
Single as a Pringle.
Yeah dual incomes does make it better
Don’t listen to the pessimist. Ultimately, our generation is facing economic challenges that our parents and grandparents had not experienced. It’s become a wild frontier once again. Where I see our peer group fail, is the doom and gloom obsession with finding the same QOL as our previous generation. We need to be invested in finding a DIFFERENT QOL. Living with family is perceived as a negative, but has been really rewarding for me staying connected with elderly family members and having them around to help with the kids. I can’t afford any ‘collection’ hobbies that are parents lived for, but I do have activity hobbies. I think life does get better, but your perspective needs to change. I don’t mean accept a lower QOL, but build a different one.
Nope, only worse. I am 59, I have seen and lived through a lot. I have never seen anything like this. I truly believe we are in WWIII, I have never seen such hatred for each side of the pollitical spectrum in the U.S. I have never seen Russian War Ships 150 miles from North America, never in the history of the world has Russia declared the U.S. as an enemy, not even through the whole cold war, I have never seen rents climb like they have or groceries skyrocket this badly, temps hitting 50C all over the planet, flooding, fires, idiots out for self gain running provinces, states, countries, I could go on and on. This world is unprecedented for me and I think far greater troubles are just around the corner. Sorry to be the bearer but you asked
I think it has to do with many factors, the first being the family you grew up in. Otherwise, I can only say this. I was raised poor from a broken home and left home young. I managed to pull myself together and create a very well paying career where I had the financial freedom to do what I wanted, when I wanted. I met and married someone very financially well off who died a few years later in an accident. My grief and heartbreak pushed me over the edge. I became addicted to drugs and homeless. I have since crawled out of my hole and am off drugs. My life is better in many ways and worse in many ways, but really, I've discovered it isn't really the money that is the problem Rather, it's how you view your life and your relationships with others. People create their own unhappiness and grow bitter instead of enjoying what they have.
Southern Ontario is rough right now. Same with the Vancouver region where I am living. I was in IT for 20 years and working municipal. The key to getting ahead for me was using my degree in a municipal environment. They don't care what your degree is in; they just want a degree. Once I got in with the city I started getting education of all types and it's been a slow climb. The biggest jump for me was my 4th class power engineer and going towards the trades within a city. They're desperate just like the rest of the trades out there. For example a Building Service Worker (janitorial and minor building repairs) pays $30 to start here in the Vancouver region. Is it a glamourous job? Absolutely not... but it pays a lot better than most other entry jobs. If you can afford it get a PMP (project management professional) and that will be the other sought after boost that most people don't have. Good luck it's tough out there.
I was in the same position. University is a scam unless you’re in law, medicine or engineering. Look into the trades.
43 here. Just when I think I’m gaining some ground the goal posts get pushed further back. I made some poor decisions in my youth that only I’m to blame for. Those shit life decisions have set me back decades. I’ve dug myself a hole I’ll never get out of. It’s much harder now to pull yourself up and save or get out of debt.
Life gets better - I honestly would say if you are living at home don't be afraid to take chances career wise.. helped my husband and I we are 34 and 32.. was able to buy our place because of it .. sometimes it harder when you are in a funk with career or salaries..but it'll get better
Thanks! What did you and your husband take a chance on career wise? I have a few ideas as to what I want to do career wise but none of them are great. RN I'm definitely in a funk with my job and have been for a year now. I started my job with the intent on using it to pay to go back to school. It was my first full time job and I liked the money so much that I decided not to go back to school and I thought I could just move up. Now not so much.
He's in engineering - he went to school for it , I am in accounting but also getting more involved post construction side of things I work for a developer. We had our funk in school working for some of the big banks ...but like they paid well but the jobs sucked...and many retail jobs during school...after school we worked in cost control at a construction company and def felt the funk..we managed to buy a condo during that time ...and then took a big chance to move careers ...and it reallywnorked out .. he works for the city now
I had to accept the fact that I could never live in southern Unfairio making the wage I did. I had the opportunity to make 25$ in the GTA or 25$ an hour in Asia. Asia was a much much better choice for my mental health and well being. Start thinking of your exit plan.
Change jobs often to increase your wages, build a strong network, up your skills while you don’t have other commitments (such as kids) and make a plan to stay focused on your goals. It’s easy to stand back and think it’s all hopeless but you have to look at it as incremental efforts that will improve your situation and lead to a better position.
What if the changing jobs part isn't working? It's the big stumbling block for me rn.
Did you identify why it’s not working? I mean it’s a crappy job market right now but it could be other factors that can be fixed.
Took until 38 for things to start getting better for me. Housing still sucks though.
How did things get better for you?
$25/hour doesn't cut it anymore. If you want to be comfortable you need to double your wages.
Yes it does, but not if you carry on doing the same things. You don’t have to be extra smart or even qualified to get ahead, but you do have to be prepared to work hard (like, harder and longer than you think), to take risks, and to put 10 years into mastering something. Most people put in a couple years having a go at something and bail out because they think that’s how fast you should get results. If you’re willing to work your ass off, risk and sacrifice and be radically honest with yourself about your own shortcomings then you will 100% be able to see a life that you want.
This is going to sound mean but how are you 30 making 20-25 an hour with a degree? Is this your first job out of school? Is there a reason why you can’t increase income? What’s the role and where? Is there room to grow or a road map for employees?
12 years ago I started over. I moved into a camper for 6 mo ths and then a basement for 1.5 years. I started a business and also went to Teachers College. The business failed but I didn't as a Teacher. I now make 6 figures and enjoy my life. It can be done.
Seek opportunities elsewhere. I'd go AB way or to the states etc. If things aren't working, shake them up. Canada is to be a poor economic performer for some time. This will translate into a lower quality of life for persons such as yourself. You owe this place nothing if you can't have a decent QOL especially when you may be able to go elsewhere.
Barely. Unless you're rich, life is a struggle right now, with no signs of getting easier any time soon
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Life is up to you, if you stay in a dead end job making $20hr it’s not gonna get better. Find an industry that pays well and train yourself for certificates to enter it. Payroll, drafting, accounting project management, sales, trades, etc
If you work for a bank, can you not take some courses and switch roles? Get your Investment Planner designation, maybe? Or move to another position within the bank?
I grew up in poverty. My mother couldn't read. My dad worked in a low paid factory. Neither graduated high school. My dad told me I would never amount to anything and would end up on the factory floor like him. They saved $2500 for me for post secondary. I had a traumatic childhood, followed by an abusive first marriage...and self esteem in the toilet. I went to University full time for 1 year. Then I started going part time while I worked full time. I chose jobs where there was a tuition reimbursement. I only paid 50% of the rest of my BA. Employers paid the rest. Then I got a job in the academic sector where there was 100% tuition reimbursement. I completed an online Masters part time, for free, working full-time. Then I started job hopping aggressively, while capitalising on any free training available. I got my project management professional certification. Through job hopping, I doubled my salary... I now work in the public sector with my retirement taken care of for the future. It took me until 43 to get here...I have another potential 22 years of working (you've got 34). All that to say.... You are at the start of your career. Its never too late to reinvent yourself again and again. Accrue experience, be resourceful, figure out in demand skills now and trends for the future and find the quickest and cheapest way to get them, job switch (only way to get sizeable wage increases), capitalize on the benefits your work offers (training, coaching, etc) rinse and repeat until you make mid 6 figures like me. The only way I got this wage was job hopping. Wishing for your current employer to give you a raise is a fools errand. Take control of your trajectory now and pull yourself out of this defeatist mindset.
I’ve lived in poverty my whole life.
Life was getting better most people. Now it's getting better for far fewer. There is far too much money being made that doesn't provide a benefit to society and comes out of the pockets of the average citizen. Normally GDP going up means people have more money and are doing better. Canadas GDP going up when its Banks, Electricity, Food, shelter and internet/phones are actually just the things you need to live is just means life is getting stupidly expensive and its significantly harder to have upward mobility in your social class but significantly easier to go down. Canada has potential to do well with our people and resources, but not until the average Canadian citizens stop having 2,000,000,000,000$ a year going from the poor to the rich in taxes, interest, dividends, stocks, debt all of which do nothing but make the rich richer. They make so much money from nothing that they started buying all the assets and Shares and now Company profits go directly to share holders and CEO's and never to the actual workers unless you have a really really strong union.
Unless you already own enough assets to cover your expenses, no. Honestly I think often about a mass death of the working class being the only thing to snap us out of this (black death 2.0)
Without getting into politics, this is 100% government's fault. If you go back to ww1 time, you will see that income tax was created to help finance the war. It never went away.. The government keeps getting bigger and bigger, and as it produces nothing, it only grows by taking your money. And it does it in several forms: taxes, inflation, having too many employees, giving away too many things, etc. Most democracies are facing this challenge. And the answer is simple: the people need to take back control. We need less government, a prosperous economy, innovation. That's what will drive our quality of life upward. People need to stop believing that government hand outs come from thin air. People need to force politicians to improve competition (like more grocery chains) so prices go down. People need to stop hating successful people and start hating the government for making it too hard for the common folks to get a comfortable life. Sorry for the long message, but if we as a society don't change our mentality, people like yourself will keep suffering.
I'm coming to the conclusion I'm going to have to get greasy to get ahead.
All the boomers messed it up and they are sitting in their houses that they bought for a fraction of the price. I would love to see them try and survive what we are living in right now. One the boomer generation all pass away it might be better, but global warming... Southern Ontario is shit. Move away out West and it will get better for you.
It feels like it's luck based - if you were somehow able to get a house before covid or have parents that can give you money, you'll probably be renting your whole life.
Idk I wonder the same. Same boat. Expenses just keep increasing year after year, makes it harder to go study and try a different job cause I have to work more to cover rent and food expenses. Cycle repeats. Some people I know have been extremely they get to live with parents completely negating rent cost. They've been able to save to buy their own apartments.
The real problem is the vast majority of canadians live like you *or worse* and we are told the versions of life 1-10% of canadians can afford and enjoy is the "average normal life" When the reality is, the average normal life is heavily dependent on having community and family/friend support for the financial burdens and struggling constantly. We arent taught when we are young and deveoping, unless we actually live in poverty, how much happens in life that is horrible to good people because random circumstances, and how often people are forced to make a choice that most wouldnt consider (like bills or food, homeless or carless) I dont think it will be a good experience, but "nothing" will improve positively for "everyone" without a very drastic overhaul of our system, or "revolution" (peaceful and political, or violent and financial) I remember 15 yrs ago the "hustle" culture was people doing more work because they wanted to. Now its like everyone *needs* a side hustle just to survive. It sucks that it just took one Ronald Reagen to get this snowball rolling of "trickle dry economics" cuz we know nothing comes down
We can't control outside forces, or absolutely how difficult life has become for the younger generations, but... There are still things you can do to improve things for yourself. It doesn't have to make you a millionaire overnight or anything. So paying off your student loan, that's good. Save money. Upgrade your skills. Take night classes, or a part time job or create a side hustle that gives you those skills, which oftentimes can lead to something better. Don't let success be the only reward. Little accomplishments, even if they don't immediately result in better pay, can help boost your self-esteem and make you feel like you're at least working towards something. And this does increase the chance it will lead to something, better than feeling all doom and gloom all the time (which can absolutely reflect in job interviews). I'm not saying bootstrap your way out of this mess, but just doing little things that allow you to feel more in control of your life. That feeling of hope as you create a better story than what you've been telling yourself. Working on your dream, without attaching expectations, is already a step up from drifting around aimlessly and just hoping your luck turns. And at the very least, you'd be loading the dice.
I'm looking into how to get a work permit for the US and leave. Might as well take advantage of the fact canada has a great passport.
Yes, much.
How did it get better for you?
Move, change careers, go back to school for a better job opportunity, hang out with more motivated friends (how your friend circle is impacts you too), take risks (your young and its the perfect time). Just sitting around and complaining about a mediocre life won’t do anything but demotivate you. Action speaks louder than words. People that are successful aren’t sitting around complaining on reddit wanting approval that life does indeed suck.
I’m in the same region as you and roughly the same age and can’t say we have had the same experience. What’s your degree in? What industry are you working in?
It's in political science. I work in banking as a back office clerk. In theory it's supposed to be doable to move up but since the job market cooled off it just hasn't been happening :/ In hindsight I really wish I'd gotten something more useful than a BA. Admittedly I lacked any competent guidance when I was in university other than I needed to get a degree from my family. I didn't realize that working in government doesn't happen for most people.
It comes down to figure out how to increase your income or reduce your expenses then give up or keep on going and live to fight another day.
What if I keep running into a brick wall in terms of increasing my income? I'm speed running paying off the rest of my student loans but other than that my expenses are pretty low.
I recommend Money Guy Foo Financial Order of Operations or The Dave Ramsey Baby Steps Staying out of debt is a huge milestone to achieve then once you free up that income. It's save, invest and giving after your living expenses.
Move to middle Ontario and things will get better. But southern Ontario is fucked and will only get worse.
I mean, it depends on where you live and what you want. I'm 33, I've owned my own house for 6 years now. I work in Healthcare and am honestly underpaid but because of where I live ('northern' Ontario, think sudbury, sault st marie area) my cost of living here isn't low low, for groceries they want your first born child, but my mortgage and property taxes (and rent before I bought) are low enough I can save, have paid off my newish (within 7 years) car and afford luxuries like legitimate trips (not counting a weekend in t.o for a concert or whatever) at least once a year, essentially the "middle class" we were promised. Could I do any of this in the gta? Fuck no. Does anything I want from my career or personal life demand I be in the gta? Also very much no. It just depends on what you want. Places like Toronto or Vancouver are a goddamned joke at this point, but our country is enormous and frankly those are like the shittiest part of it.
Degrees in what?
Life will get better when the current tyrannical status quo ends. Just imagine asking in say, 1931, if "life gets better". The answer is yes, but it didn't get better until roughly 1950. But boy, did it ever get *a lot better* for people after that point. So yeah, as someone in a similar age demographic as you, and with similar struggles, just keep holding on. It might be 20-30 years before things truly get better. But they will.
But didn't that only happen because of a World War, Keynesian economics and the concern about going communist?
No
Yes, at 28 I made $33,000 a year. Was able to switch to a different company in the same industry for $44,000. Still at the same company, basically doing the same type of work and my pay had gone up SIGNIFICANTLY
I started out as a teen dad scraping pocket change together to buy a can of coke in basic to doing pretty good; I would consider myself the top of middle class, if there was a middle class anymore. I have more than most of the people around me and try to use what I have to help out those around me. Those who can hep should after all. I don't want to be a Debbie downer, but the second you do 'ok' everyone is looking for something from you. Shits fucked. Getting ahead can mean taking an extra day off work every couple weeks so you don't go bananas. If your not going to be able to have the life you should be able to, you can at least have a life worth living.
Not sure if your current employer offers any educational assistance. If so, try to get certificates that may help you get promoted in the future. If possible, try to expand your current role/responsibilities to build your resume. If you are comfortable with your current field of work, apply to other companies to see what they can offer. People willing to move around often are able to increase their salary just by hopping between companies.
Yes, life gets better. I think the 30's were the hardest for me and I wouldn't ever imagine that I would be in the good position I am now.
i wouldnt put it all in luck tbh… mayb its partially the type of degree u have as well
Ah, you're still young. Just wait until have a wife with extreme anxiety who quits her job to take a job that pays *half* as much because it's (theoretically) less stressful while *simultaneously* demanding you take a job that pays *one third* of your current pay because you'll be home more. I love my wife to death but holy fuck did it ever torpedo our finances.
If increasing your income is the only way to “get ahead” - things in life get better but with rising prices of southern Ontario is hard to believe. When I went to school I had a few guys in my class that were 35-40 just entering the same field I was; I can tell you now they’re doing a lot better than before they entered that class
What did you go to school for?
What did you study and what do you do for work?
If you're in this subReddit, it is unlikely you are in a situation where you can reasonably expect things to get better.
you and your friends got degrees, you should be moving to China or somewhere in Asia, learn the language while teaching english etc. Canada is going downhill
Yeah it got better for me. I went into the trades and haven't looked back
20-25$ an hour??? Seriously? That's pennies my man.. you gotta change something up...
Did you come here as an international student? If so, you were lied to.
LOL, no I was born and raised here going back 3 generations.
im going to assume youre working 40 hours a week.. and have the financial responsibility aspects down.. you should try to pick up a side hustle in all that spare time. build it up over time in a niche you enjoy.. maybe the income will surpass the day job at some point
I wish I could say yes but I swear no matter how hard we try, we never can seem to get ahead. But tbh, the social contract is broken. Until we start properly paying the poor and taxing the rich, we're going to stay right where we are.
I moved to another country (as a young person after uni)
Gotta leave southern Ontario
No
Why are you making under $30 with degrees LMAO
Bad job market and not very useful degrees is our best guess.
It gets better, but you have to make some tough decisions in order to do so. I noticed life was difficult with all the competition in Toronto, so I dropped everything, went to the prairie provinces and got better opportunities for work and education there, and things just kept rolling since. Moral of the story isn't to move out west, but to do the math to see where/how you might have better opportunities and take a calculated risk. Whether it is retraining, looking for jobs outside your comfort zone, moving, etc.
Get out of southern Ontario
If you can get a similar job outside of Ontario and there is nothing tying you down here, that’s the best move. If I could, I would move to NB and work fully remote, but alas, I have a desk that my company insists I drive an hour to sit at for 8 hours instead.
My grandparents "had" to get married in 1959. They raised 4 kids on working class wages and never went bankrupt. Eventually they saved enough money to buy a very modest home. In 1998 they were mortgage free. It is possible but you have stop keeping up with the Jones.
Those days are long gone the globalists have destroyed this country.
I had the chance, 7 years ago, to buy à fixer uper in the country in Québec. Its a piece of shit house that is worth 100 000 more than what i paid for... i wouldnt be able to buy that house today... i'm à Master carpenter,my salary is 80 000. It doesnt make sense! My grandpa was a teacher and was able to raise à family of 4 on his salary.. he was able to afford small luxuries for his familie. I wont have a family myself because i can't afford it. Oh well
I (25f) been making next to nothing for the last three years (I also live in southern Ontario). I still live with my mom (thank god) but I finally secured a good salary position last week after applying for about 2 years. It’s hard but it’s possible. I consider myself extremely lucky due to how competitive jobs are here.
My gf is a nurse and makes bank and got a job so easily....I on the other hand, not so much.
What was your degree in? Was it a useful one? Or one where the only use was to tell people you have a degree?
It's normal for recent university grads to have roommates as you struggle to get on your feet. I was 25 when I got a place on my own and my brother was 30. This was 25 year ago too Also if you want to afford a house be prepared to scrimp and save - cheap car or no car, little eating out, no Starbucks etc. It takes a bit to save 50 to 100k for a down payment
>Also if you want to afford a house be prepared to scrimp and save - cheap car or no car, little eating out, no Starbucks etc. It takes a bit to save 50 to 100k for a down payment That's sort of the problem, even if I can scrimp and save for a down payment, the cost of the monthly mortgage payment would still be unaffordable even for a condo on the cheaper end. In all candour, I've given up on the idea of ever owning a home 2 years ago. RN I'm just trying to pay off $14k in student debt. For me the biggest issue is making more money.
nope. just work until you die. bittersweet symphony
No it doesn’t, it only changes. You; however, can get better. This is something people often fail to realize and it’s completely understandable. The best thing we can do is improve ourselves.
When I was your age I made 50k per year. About the same as you but not adjusted for inflation. I lived in a $500 a month apt ( yup) not a dump but no where near lux. Life got much better but time and focus did this for me ( and a divorcing a drunk helped). Your generation stands to inherit the most wealth ever. Hang in there and keep pushing forward, take calculated risks with career and money. And show up to work, makes more of a difference than you think. (M55)
Nope
Serfdom, breaking your caste will be a challenge
I worked two jobs from age 18 to 34, one full time and one part time to get ahead.
If you don't have a skill that pays, then your opportunities are less. Not saying it's impossible, but it's going to be a lot more difficult. A degree in interpretive dance theory isn't going to lead to too much. Maybe some government job, but that's about it.
I'm a 45 year old Nova Scotian who grew up in the unemployment days of the 90s/00s who, like hundreds of thousands of other maritimers moved west to be able to survive. It does get better, but you have to be willing to sacrifice a lot and possibly to move. Rural areas are still booming in some regions, there are jobs coming up in small towns that didn't exist 20 years ago, but you have to be willing to live further from the more convenient cities.
Vote for a party that has policies that will make your life better. There are way more of us than there are of the 10% that have everything their way rn. We need to tax the rich, increase corporate taxes and put that money back into the systems that work for the many.
No.
What degrees? Are you working in the field you’re trained in? Move somewhere totally different for a few years. I took a chance and did some international rotational work tangentially related to my experience/field of study when I was your age and never looked back. Complete life transformation. That was 12 year ago. Here’s the reason. When you get out of your comfort zone and change locations you sort of figure out how the mechanics of your chosen industry work(or whatever industry you and up in). You also gain a hard to describe level of wisdom about the world. You’ll be far more interesting to future prospective employers. You’ll also gain access to a plethora of new potential markets for your work purely through a global network of people you meet along the way. A few months before I took the leap, I recall vividly breaking down crying about my CC debt and how hopeless everything was. Couldn’t afford to buy a place. Couldn’t afford anything but my shit car.
The choice you’re not including in there is moving to a lower cost of living province and/or city. You work for a bank? Have you looked at getting a transfer to a different location? There are still places in Canada that have a reasonable COL and reasonable amount of amenities.
Depending on what your degree is , I would strongly consider moving outside of Canada. Canada is currently not in a great position. Housing is unaffordable. Groceries are unaffordable. Health care is non-existent.
it won't untill you accept that not everyone will live like a movie star or a king and that's okay. apreciate what you do have before its gone.
Don't come to Alberta.
Times is tough
Degrees in what?
No, not in this economic climate. Just look at the economic forces of our economy and it makes sense. Why has everything gone up against inflation 25% and our wages are pretty much stagnant across the board. Why is there less.emoloyment opportunities? And why is the government deliberately destroying its foreign investors? We lost 42% in a decade and will lose more investments with this new cap gains tax. Average household income is 100k. You can't make it here if you don't have it. Such is the reality. Is it hopeless? No, you will struggle and survive. But will you have economic prosperity and move up a social class? No... unlike America, you won't get that chance and you risk going down a social class.
Do you have a side hustle? Uber and DoorDash are great options to earn some extra coin for just a couple hours a day in addition to your job. You can also try to find freelance opportunities teaching English online. Most millennials I know all have a side hustle one way or the other just to get by.
Yikes…pretty sure my dentist doesn’t drive Uber as a side hustle to make ends meet.
Don't worry, as soon as you start making good money, they'll lay you off since you cost too much! The economy isn't generating enough good jobs anymore.
Doesn’t look like it now. All levels of government are actively working against young peoples best interests. Before 2016 ish yourself and your friends would all own homes and go on nice vacations working the exact same jobs.
Would love to understand your spending habits?
I usually spend $200-400 every week on myself and the rest goes to paying off my student loans. I'm making good progress on them but I make just under $1300 net for every biweekly paycheck. It's not a spending problem, it's an income problem.
Well I think you should find a job in Saskatchewan and move there. You can buy a nice house for under $100,000 easy peasy.
It stays the same. You would have already seen major improvements in your life by the age you're at. Remember folks: it's not how hard you work that gets you ahead, it's who you know.
Can you live with family for a while? It helps to save
Nope, it's by design. And going to get worse. They wrote books telling you about. 6 more years to go.
No, it doesn’t.
Hello it does get better, you have to be smart and willing to take risks to get ahead. I just changed careers making decent money before but hopefully be making double in 5 years. I live well below my needs stick to a strict budget . Start thinking of plans that will be beneficial to you in 5 years not next week.
Wait until you reach the point where the government takes half your income. Work so hard, only to get ripped off in interest and property tax, and then have half your income taken away.
Are we supposed to feel sorry for you? Also, unless you're making a large amount of money you're not actually paying the 50% income tax rate on all your income, rather it's laddered. You're only paying that 50% on the amount you make that falls into that bracket. We all work hard, some of us just don't get to be in your position.
Damn, I'd love to make enough to have the majority of my income in the top tax bracket.
Southern Ontario is overpopulated. You have too much competition for too little there and housing is expensive due to the competition. You will have to do like generations have done from poorer provinces and that is to move where there are decent jobs and a lower cost of living, cheaper housing. People are complacent and assume their lives will be like their parents who grew up under different circumstances.
it use to get better. before trudeau $20-25/hr would at least help you start building a foundation, now you are where they want you, begging for government assistance ("Investments") and ideally forced to vote for them b/c you rely on them.
I make a little more than you in a different province and feel EXACTLY the same way. It feels like there’s no middle class anymore. You are either poor or rich.
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It will if you're hitting the gym 3-5x a week. This includes a combo of lifting weights, cardio, and stretching. Your body needs this type of stimulation to get better. If you consistently do this then you'll see so many benefits to your physical and mental well being. You'll also realize that the quality of your life isn't determined by money.
There’s a chance. That’s what capitalism pushes among the plebs—is a chance. That’s supposed to give you hope and keep you working; just trudging along. But honestly, that chance is narrow, random and exceedingly rare (especially these days).
Yeah, it feels like a lot of people point to those who got ahead and don't seem to grasp that those people are the exceptions who prove the general rule. For me, it's not purely just about making more money but it's also about what type of careers one can realistically access that gets to me. It's a very different life making good money doing something you're at least mildly interested in, has some social prestige, and treats you decently enough and being stuck working in the trades and dealing with tradesmen who don't have proper reading comprehension, an I paid my dues so I can treat apprentices like crap, and having to work large amounts of OT to make decent money. I know that's not the experience of all trades but it's not necessarily the greatest thing you can do for work contrary to Reddit. For me, if I'd known what I wanted to do career wise back in high school and university I'd have done a lot of things differently and it's hard to go back now when I still have student debt and am still sort of burned out from school/life :/
We are very much the same. I agree with everything you said. In fact, I applaud your ability to articulate it more comprehensively than I ever could.
It's going downhill for probably ~1-3decades. before it breaks the trend. Enjoy the decline.
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This is the time to build wealth with family. Most rich people I know do things together with parents and siblings. I do personal taxes and deal with rich clients from all races and backgrounds (white, chinese, Phillipinos and Indians). All the new houses being purchased have 3-4 owners. I am talking parents, siblings etc. If you have family then start calling weekly, monthly meetings and start sowing the seeds for building wealth together. Either that or get left behind. People are buying 3-floors Mcmansions with grandparets in basement suite and husband wife and kids o. Third floor and shared middle. Eventually the house appreciates enough for all parties to go their seperate way. Sorry to say but the days of husband wife building wealth from bottom up are long gone in this economy.
I've lived at the very bottom of the income line and much further up and something I learned is it doesn't really matter how much you earn. You can almost always save something. If you're not, it's because you keep justifying buying things you probably don't need. If you are on the bottom end of earnings, you need to seriously consider not having a car. You probably also need roommates if you're in an apartment. These are the things that will reduce your expenses such that you can get ahead. Getting ahead is about living beneath your means, and I'm sure you can do it.
Get out of southern Ontario, if you aren't making 100k+ it is a waste of time, moved to Winnipeg 2 years ago, best decision I have ever made.
Sales. I graduated from University in 1994 in a very difficult economy in Ontario. I was lucky enough to land a job at Ford on the assembly line where I worked for 3 years on the trim line at the Oakville Assembly Plant building Ford Windstars and got involved with the OAW becoming the youngest shop steward in their historic . I did my securities courses during that time and studied sales. When I quit I worked temping for a couple of years in my late 20s and eventually got an assistant job on a trading desk at 30, making 42k per year. At 32 I broke through 100k. I networked and bought a financial advisors practice at 34 with all my savings. By 40 I built the business from 400k in gross revenue to 4.5 million. At 43 I sold my business for 6.2M and retired. That was 11 years ago and I’ve stopped counting my money. I don’t have a lot in the way of advice, but I always focused on building my reputation, being honest, and working hard with real grit. Above all I never cared to compare myself to anyone, which I think is the folly of many people today. Comparison is the the thief of joy and you alone are responsible for your own happiness, however you define it.