Living Expenses in Canada notebook

Document Sample
Living Expenses in Canada notebook Powered By Docstoc
					8.3 Living Expenses in Canada.notebook


                      8.3 Living Expenses in Canada

              Living Expenses are the costs that a family or individual
                              faces on a regular basis

              Understanding living expenses is the first step in maintaining a
              personal budget and moving towards financial independence.

              Examples of Living Expenses:




       Categories of Living Expenses
       Percent        Rank
       ______        ______    •   Food
       ______        ______    •   Education
       ______        ______    •   Recreation
       ______        ______    •   Health Care
       ______        ______    •   Clothing
       ______        ______    •   Household Operations
       ______        ______    •   Transportation
       ______        ______    •   Household Furnishing and Equipment
       ______        ______    •   Tobacco Products and Alcoholic Beverages
       ______        ______    •   Reading Materials & Printer Matter
       ______        ______    •   Shelter
       ______        ______    •   Personal Care
       ______        ______    •   Other
8.3 Living Expenses in Canada.notebook




      Percent        Rank
      ______        ______    •   Food
      ______        ______    •   Education
      ______        ______    •   Recreation
      ______        ______    •   Health Care
      ______        ______    •   Clothing
      ______        ______    •   Household Operations
      ______        ______    •   Transportation
      ______        ______    •   Household Furnishing and Equipment
      ______        ______    •   Tobacco Products and Alcoholic Beverages
      ______        ______    •   Reading Materials & Printer Matter
      ______        ______    •   Shelter
      ______        ______    •   Personal Care
      ______        ______    •   Other
8.3 Living Expenses in Canada.notebook




        AVERAGE vs MEDIAN



        How do outliers affect an average?
                High Outliers           Low Outliers
        Effect

        Is the average expenditure on living expenses HIGHER or
        LOWER than the median expenditure?

        Predictions?
        in Canada ___________            in Ontario ___________
8.3 Living Expenses in Canada.notebook
8.3 Living Expenses in Canada.notebook


       Cost of Living
       Average cost of the basic necessities of life
       (as food and shelter and clothing)
             i.e. The cost of maintaining a certain
                  standard of living

       The cost of living varies greatly by location.

              Other considerations:
              Currency Fluctuations
              Price Movements




         Companies, such as Mercer*, offer global surveys that
         examine the cost of living, quality of living, and eco-
         standings of various cities around the world.

         Cost of Living Factors

         • Alcohol and tobacco        • Personal care
         • Clothing and footwear      • Household supplies
         • Domestic services          • Sports and leisure
         • Food at home               • Transportation
         • Food away from home        • Utilities


                                     *Mercer is a consulting firm that specializes in HR and financial advice.
8.3 Living Expenses in Canada.notebook

       Scenario - Examining Cost of Living Around the World
       You have decided to take a new job with Google. They are willing to let
       you relocate to one of the following locations:

       Sydney, Australia                     Dublin, Ireland
       Sao Paulo, Brazil                     Tokyo, Japan
       Vancouver, Canada                     Amsterdam, Netherlands
       Ndjamena, Chad                        St. Petersburg, Russia
       Beijing, China                        Madrid, Spain
       Havana, Cuba                          Geneva, Switzerland
       Dusseldorf, Germany                   Miami, United States
       Athens, Greece

				
DOCUMENT INFO
Shared By:
Categories:
Tags:
Stats:
views:3
posted:9/7/2011
language:English
pages:6