According to StatsCan, the average total income for a person in Canada is $54,400 in 2021.
Experts tell us that we should only spend 30% of our income on housing. That would mean the average Canadian should be spending $16,320 a year. $54,400 minus $16,320 equals $38,080. If you have one child at $15,000 a year, that leaves you with $23,080.
$23,080 is a nice chunk of change, however we still haven’t done any other bills. According to the Globe and Mail, the average new car payment is $880 per month. That’s $10,560 a year. We’re now at $13,080 in left over income.
In the 2023 Canada Food Price Report, a family four will spend $16,288.41. We’ll take 75% of $16,288.41 to represent a family of three. That couple would be spending approximately $12,216.30 a year in food. $13,080 subtracting $12,216 .30 means you are left over with $863.70.
CCA currently states that the average price of gasoline in 2022 was $1.632. Let’s say you have a 50l tank, that means you are spending $81.60 per fill up. Twice a month, means you spend $163.20. Over the course of a year, you will spend $1,958.40. Oh shit, we’re in the red now with -$1,904.70
We still have to pay for our cell phone, internet, hair cuts, clothing, emergencies, save for retirement, pay down debt, etc.
Not to mention that if you look at what the $15,000 child cost includes, it already factors in things like transportation and shelter costs. Which @ShaggySnacks@lemmy.myserv.one includes again when budgeting parental costs.
Based on his numbers, removing the duplication, this single income supporting a family of three comes out comfortably in the black. And that’s with childcare costs included! If you are going to pay for childcare, why not have two incomes supporting the family of three? Now you’re saving money hand over fist.
If not being able to accurately calculate costs is the reason why Canadians aren’t having children… Maybe it’s best to keep that out of the gene pool anyway.
Children cost approximately $15,000 a year up to the age of 18.
According to StatsCan, the average total income for a person in Canada is $54,400 in 2021.
Experts tell us that we should only spend 30% of our income on housing. That would mean the average Canadian should be spending $16,320 a year. $54,400 minus $16,320 equals $38,080. If you have one child at $15,000 a year, that leaves you with $23,080.
$23,080 is a nice chunk of change, however we still haven’t done any other bills. According to the Globe and Mail, the average new car payment is $880 per month. That’s $10,560 a year. We’re now at $13,080 in left over income.
In the 2023 Canada Food Price Report, a family four will spend $16,288.41. We’ll take 75% of $16,288.41 to represent a family of three. That couple would be spending approximately $12,216.30 a year in food. $13,080 subtracting $12,216 .30 means you are left over with $863.70.
CCA currently states that the average price of gasoline in 2022 was $1.632. Let’s say you have a 50l tank, that means you are spending $81.60 per fill up. Twice a month, means you spend $163.20. Over the course of a year, you will spend $1,958.40. Oh shit, we’re in the red now with -$1,904.70
We still have to pay for our cell phone, internet, hair cuts, clothing, emergencies, save for retirement, pay down debt, etc.
Poor people don’t need cars. So it saves a lot of money.
Not to mention that if you look at what the $15,000 child cost includes, it already factors in things like transportation and shelter costs. Which @ShaggySnacks@lemmy.myserv.one includes again when budgeting parental costs.
Based on his numbers, removing the duplication, this single income supporting a family of three comes out comfortably in the black. And that’s with childcare costs included! If you are going to pay for childcare, why not have two incomes supporting the family of three? Now you’re saving money hand over fist.
If not being able to accurately calculate costs is the reason why Canadians aren’t having children… Maybe it’s best to keep that out of the gene pool anyway.