The new year has finally arrived! This is the time of year to re-evaluate the last 12 months, identify areas of our life that need work and TLC, and finally turn a new leaf toward better habits. Of course, a big part of adopting "better habits" includes adapting personal finances, budgeting, and spending.
TL;DR Here are some essential and common monthly expenses that will see an increase in price over the next 12 months.
Healthy spending habits all start with smart budgeting. In other words, once you cover your basic monthly expenses, how to spend what's left is really up to you.
A recent report by TVA shows us that in the coming year, budgeting might become a little more difficult for Quebecers.
In short, many essential services and goods are increasing their prices this coming year. For example, we already know that the price of gas is going to be super expensive across Canada in 2019.
That's just the start. Here are the essential expenses that are expected to increase in price over the next 12-months.
Montreal's STM passes
It's official: July 1st 2019 the average prices at the STM will be going up by 2%. It may not be massive increase, but it's definitely something people who use its services need to be aware of.
Montreal housing market
The Greater Montreal housing market will see prices increase by an average of 3% in 2019. If you were planning on buying a home, maybe now is the time to stick to renting.
The average Quebec resident is going to see an increase of 1.2% on their property taxes in 2019. In Montreal, the increase will be higher, at an average of 1.7%. Once again, maybe sticking to renting might be the best idea.
Your monthly entertainment expenses will be going up this year. Netflix is increasing their base subscription fee from $10.99$ to $13.99. On top of that, Quebec will introduce a new tax on streaming services that could cause Netflix accounts to increase in price to as much as $15.59.
Several essential grocery items are anticipated to increase in price by between 2-3% in 2019, including baked products, dairy, fruits, and, most notably, vegetables, which are expected to get hit with a increase in price of up to 7%.
Hydro-Québec wishes to introduce a rate increase of 0.8% as of April 1, 2019. The changes will come out to an average increase of 23 cents per month for a 5 ½ home, 79 cents for a small house, $1.60 for an average-sized home, and $2.44 for a large house.
Wine & Liquor
The SAQ recently announced that they will be increasing the retail prices of over 800 products at SAQ shops across Quebec by an average of 35 cents for the most popular products on the shelves.