How We Waste Money!
That's a wrap, for Monday October 15th! Thanks for listening, thanks for calling in to win our passes to Argo, Caged Rage 6 Redemption and the Halloween Party at Element Club, Bar and Grill. More Caged Rage passes all week! Tomorrow is Boss' Day, give us your boss story - good or bad!
It was on this day in 1989 that Wayne Gretzky surpassed Gordie Howe's NHL scoring record of 1850 career points while playing for the Kings.
Have a great day - McPeake&Helm
$12.4 Billion on Alcohol
Canadian spend about a quarter of what Americans do on alcohol each year, making us much bigger boozers than our Yankee neighbours. Might not be a bad idea to cut back a bit, considering the collateral damage caused, whether in car accidents, treating alcoholism, or lost productivity.
$26 Billion in Casinos
Canadians like to gamble, there's no question about that, and airlines take thousands of Canadians down to Las Vegas each year as if to prove the point. Of course we have our own homegrown casinos to tempt us as well. But should we take the bait? Not if we have debts to pay off first. And no, betting in the hopes you'll win isn't the best way to try to pay off your debts.
$6 Billion in Gift Cards
Canadians spend an estimated $6 Billion a year on gift cards, with an estimated quarter of those that are never redeemed because of loss, theft or damage. If you're stuck with gift cards you'd rather not have, you can visitCardswap.ca or Giftah.ca, both of which allow you to turn your unused or partially-used gift card into cash. You can also buy a giftcard at a discount, which might be a great way to stock up on Christmas gifts.
$16.7 Billion on Tobacco and Alcohol
Canadians like to indulge, and we're heavily taxed because of the health risks associated with the twin sins of drinking and smoking. But help might be on the way. According to Business Insider, researchers like Dr ronald aredeveloping vaccines that could provide immunity to the addictive properties of cocaine and nicotine, meaning that addicts would be relieved of their addictions with just one shot.
$3.5 Billion in Bank Fees
Canadians pay among the highest bank fees in the world, but it's something the average bank customer can reduce. Go into your bank and threaten to pull your accounts if they don't reduce those fees. And remember to never use anything but your own bank's ATMs , or get stuck paying anywhere from 1 to 3 dollar fees at other cash machines.
$5.7 Billion on Soda
Canadians consumed an average of 82.14 litres of soda pop per person in 2010. With a price tag of say $2 per litre, the annual spend in this country reaches the sugary heights of almost 6 billion dollars annually, spent on a drink that offers no nutritional value whatsoever. We think that stinks.
$78 Billion in Credit Card Debt
Outstanding credit card debt in Canada topped $78 billion in 2010, according to Equifax Canada. While we are finally taking control of our credit card debt (the most expensive kind of debt) according to recent studies, that's still an awful lot of money paid out to finance things that we effectively can't afford. Call it instant gratification or basic mismanagement, Canadians have let this kind of debt get out of hand.
$27 Billion in Wasted Food
The value of wasted food in Canada has been estimated at $27.7 billion a year. University of Guelph professor Ralph C. Martin said the average Canadian household spends $140 a week on food, according to Statistics Canada, and if 20% of that goes to waste, it represents $28 of that budget. Multiply that by 52 weeks and you get about $1456 per household spent annually on food that is wasted.
Whiel we couldn't find a national number that represents the total revenue earned from parking tickets in Canada, we can assume it's a big number. Large cities like Toronto make about $80 million annually from parking tickets, so it's bound to be well over $100 million for the entire country. The point is, these are unnecessary fees that we pay for our own miscalculations and laziness. We don't know what that means to your personal bottom line, but even one ticket its too much compared to what the parking meter costs.
Canada ranks an embarrassing 27th out of 29 OECD nations in terms of energy use per capita. Canadians annually consume 6.19 tonnes of oil equivalent per capita. This is almost double the OECD average of 3.18 tonnes of oil equivalent per capita, and more than five times the world average. Only residents of Iceland and Luxembourg use more energy per capita than Canadians. Air leakage in a typical house can account for 35 percent of its annual energy consumption. For Canadians living in a cold climate, this is an inexcusable waste, and a drain on your bank account to boot.
$331 Million on Candy
We get it. Candy is an affordable treat that everyone can afford to enjoy. But it's discretionary, meaning that at least $331 million was spent on a treat last year (according to Statistics Canada) that could've gone toward paying off a mortgage or a student loan.
$52 Billion in Lottery tickets
Canadians love their lotteries, as evidenced by the incredible interest whenever the jackpot rises above a couple of million dollars. A lot of us don't bother buying them, because the odds of a decent return are so poor, which means some people are shelling out way too much of their disposable income for the pleasure of a (very slim) chance to win.