Monday, January 02, 2006
Reality Bites
It is 1965, a sunny summer day in London, Ontario. While shopping, Babci (grandmother) thinks a dress can be purchased for $2.00. The price of dresses in the store average $15.00. I quietly snicker, as children should be seen and not heard.
Little did I realize the significance of that moment 40 years ago and it is not funny now. Prices will continue to rise and will salaries lag behind. Gone are the glory days of being comfortable. There was a time when insurance covered 80% of your medical costs. Now each year is bringing a $200/month increase just to meet premium costs just to have coverage. Then there are the co-pays and uncovered medical expenses.
The newscasters and papers inform us of a 17% increase in electrical costs (it will go up to a total of 22.4% in April.) Where is our increase of funds?
I was looking forward to our mortgage being paid off; we would have more disposable income, NOT! At the current rate it will be devoured by the increases in less than five years. Okay, so I am not an investor, reaping the benefits of corporate bean counters cutting corners or demanding increases. If things continue as they are, I will be a victim of corporate America. No, this is not a self-fulfilling prophecy, as I am aware that changes must be made.
Now I understand the financial challenges facing senior citizens in our country. I have always been one to live within our means, but that is getting more difficult. Am I turning into my Babci?
It is 1965, a sunny summer day in London, Ontario. While shopping, Babci (grandmother) thinks a dress can be purchased for $2.00. The price of dresses in the store average $15.00. I quietly snicker, as children should be seen and not heard.
Little did I realize the significance of that moment 40 years ago and it is not funny now. Prices will continue to rise and will salaries lag behind. Gone are the glory days of being comfortable. There was a time when insurance covered 80% of your medical costs. Now each year is bringing a $200/month increase just to meet premium costs just to have coverage. Then there are the co-pays and uncovered medical expenses.
The newscasters and papers inform us of a 17% increase in electrical costs (it will go up to a total of 22.4% in April.) Where is our increase of funds?
I was looking forward to our mortgage being paid off; we would have more disposable income, NOT! At the current rate it will be devoured by the increases in less than five years. Okay, so I am not an investor, reaping the benefits of corporate bean counters cutting corners or demanding increases. If things continue as they are, I will be a victim of corporate America. No, this is not a self-fulfilling prophecy, as I am aware that changes must be made.
Now I understand the financial challenges facing senior citizens in our country. I have always been one to live within our means, but that is getting more difficult. Am I turning into my Babci?
Comments:
<< Home
Oh Nancy, I'm feeling that too! Inflation and flat incomes do not make for a happy public, and I'm not happy with our finances and I've shaved us down so much the last year and gone back to work. I'm not sure where to cut back now.
Post a Comment
<< Home
