Part 6/10:
With rising living costs comes the precarious choice of starting a family. In cities like Toronto, families face steep financial burdens from both housing and childcare, which accounts for an average of 28% of household incomes. The intersection of this financial strain with growing consumer debt—totaling $2.5 trillion, with half held by individuals under 45—suggests an alarming trend where the traditional family unit may reconsider its ability to sustain itself.
Moreover, Canada’s healthcare system, often misconstrued as “free,” comes with considerable taxpayer contributions. A family of four earning just over $170,000 can expect to contribute about $1,400 monthly towards healthcare, representing a significant financial overhead affecting disposable income.