Spent is a new column in which the Financial Post’s Victor Ferreira takes an entertaining and insightful look at the financial lives of everyday Canadian millennials. Some toil in lower-paying jobs while others are earning six-figures — what unites them is their desire for more and their everlasting struggle to get it.
Facundo has seen his friends apply for the Canada Emergency Response Benefit and the thought of doing the same was a tempting one, until he realized it could never be an option. He refuses to take the money, even if in all likelihood he’ll earn less than the $2,000 he’d receive from the government in a few of the next months. Doing so would require him to ditch his students and if he leaves them now, after spending years building up his base, his business may never recover.
Facundo has extra time on his hands — and like most of us, he’s inevitably getting bored. There’s only so many hours in the day that he can work from home. Netflix has become a reliable friend and so have the bottles of beer he sips on while enjoying a late-night movie. It was only when he was compiling his statements for Spent that he realized he’d spent $188.17 at the LCBO in April.
Having earned more than $51,000 last year, it seems that those investments are starting to pay off, but Facundo will be the first to admit there have been several missed opportunities. He hasn’t registered a business and so none of his expenses have been written off. The reason he’s fast-tracking some of those purchases is because he’s set a goal of trying to add the structure he’s sorely been missing so that he can benefit when lockdown ends.
'Unlike most millennials, Facundo’s problems can’t be fixed with cutting down on his expenses...' 🤦🏻♂️ Schrodinger's millennial, again? Either we're killing industries of frivolous shit we don't need, because we don't spend enough or we spend too frivolously. Pick. One. FFS.
Well he seems smart and if he's in gig economy than like most should know by know save when you can since its not constant income.
So what? Most people don't have that option.
Can’t be bumbles and the UCPcorruption FiretheUCP