The Observer’s Tracy Hughes brings another interesting thought to light.
Hughes’ information suggests the average middle class family income has stagnated since 1997-2007. I agree, and prior to that, 1984-1996, money was plentiful and credit cards quickly became the norm, among those who didn’t qualify.
I often wondered why people expected government to solve personal finance problems? Government had enough challenges creating financial problems people begged them to create.
I don’t want to suggest every situation is the same and I don’t want to suggest government action has not helped create some negative factors along the way.
I do, however, wish to point at elements that have caused negative repercussions to thousands, if not millions of family’s across Canada. Those are: credit, bad decisions, greed, lack of will power, poor direction.
With Hughes’’ final words, I am left to wonder in the opposite direction.
I ask, to what degree is government responsible for insuring an affordable home is chosen to match long-term income structure, credit cards obtained for use without a viable repayment plan, financing boats, sleds, ATVs, trips, memberships, rather than choosing to max out RRSPs and savings?
Do people not have the responsibility to make sure they live within the means of their pay scale? Is using debt to live really the only option?
Can the expense of cell phones, satellite TV, videos, costly toys, unaffordable homes, cars/trucks they don’t need be trimmed?
Are long-term financial plans based on wants rather than needs realistic? I witness this everywhere, it must share with the absence of the income factor!
Could the Canadian dream be a myth? Possibly, but many dreams, with right decisions, have flourished. In this case, the false thought that credit was good, is certainly the myth.
Bryon Every
