Higher prices siphon savings

The raise in prices for gas, food, and other necessities, people are claiming that it has taken out money of their retirement savings. The most hit part of Canada are those who are living in smaller communities. One-third of them saying that they have reduced their savings a lot, while one in five in major cities say they have. The survey shows that 49% of Canadians had to reduce their retirement savings fund due to rising food and gas prices. The survey shows that Canadians are at top with 49% just above the Americans at 45% and Britain at 43%.

http://www.financialpost.com/reports/oil-watch/story.html?id=583055

The increase of food and oil prices will result cash to loose some of its purchasing power. This has affected many Canadians as you can see in the survey. The cost of gasoline will continue and to increase and we will still be buying it because we need to it run our vehicles. Food which is a part of our necessities will increase and we can't do much about it. With the increase of products, we would have to decrease our savings in order to buy these necessities. In order to not have a huge decrease in our savings, we would need to learn how to manage our money better.

I believe with the rise in oil prices, some people would make the jump onto transit and leave their vehicles at home. Because of this, I think the government should be more involved in transit even more now because they're finalizing a Carbon Tax Law. I think a lot of people are hesitant to take transit because many people do complain that it is slow and mostly not on time. With a lot of money being poured into transit, I personally don't see any improvements in our transit system. Why can't our transit system be like Japans?