Srini asked in TravelCanadaOther - Canada · 8 years ago

Living of cost in canada?toranto?

I moving to Canada on next month and this is 1st experience I have stay with 2 year agreement of work and the company offering a salary of $ 4255 /month take home. I wanna save 2255 $ atleast is it possible to rent of apartment, food,and other expense in remaining 1000 $ plz help me thanks in advance

4 Answers

  • Anonymous
    8 years ago
    Favorite Answer

    When you say your salary is $ 4255/month "take home", does that mean that you are quoting your salary after taxes, CPP (Canada pension Plan) and EI (Employment Insurance) have been deducted?

    By this reckoning, your gross salary, before any deductions are very close to $ 6,000 peer month.

    To calculate your real take home pay, use the government tax deduction calculating form here. You input Ontario as your place of work:

    You allow both CPP and EI deductions in these calculations to know how much you get after taxes are deducted.

    Now, assuming that you are correct about the $ 4,255 (in your hand) then you cannot save as much as you are hoping for.

    A very inexpensive basement apartment in or near Toronto will cost $ 900, or a little more. A nice one bedroom apartment will cost $ 1,000 - $ 1,500, depending on how close to the city you live. All this excluding furniture, TV, etc., which you can buy on craigslist and bring home yourself.

    Even the smallest and most economical car will cost about $ 12,000 per annum, counting all running costs and the fact that you cannot insure a car as a new person in Canada for less than $ 4,000 - $ 5,000 per year. No need for a car unless you work really far away. Do choose your place of living carefully, near where you work. Commuting in this city is terrible and is a killer for your satisfaction of life.

    An unlimited TTC (Subway, street car and bus) pass is $ 126 per calendar month. Individual trips, with unlimited transfers are $ 3.00 each.

    Food for one will cost in the range of $ 200 - $ 300 per month if you shop wisely. That means NOT buying ethnic food, food from your home country, because it tends to be more expensive, but rather that you go to the huge food stores, the likes of Loblaw's, Sobey's and Walmart.

    A TV connection at home is from $ 40 - $ 200 per month, depending on how many channels you want.

    Home Internet is expensive, from $ 35 - $ 100 per month, depending on your data usage and speed of connection. Skype will work on any, even the slowest. There is free WiFi everywhere, in most all coffee shops and places of business. If you live near the downtown core you may even be able to get cheap WiFi, accessible in your home from the city network, from as little as $ 5 per month. See here:

    A cheap mobile phone could be provided by Wind or Mobilicity, the can let you have one for as little as $ 30 per month. Any of the major telephone companies will charge from $ 50 - $ 120 for a mobile. (Terrible, I agree)

    There is absolutely no need at all to install an additional fixed home telephone. Just make sure that you mobile has coverage inside your home. - Most do.

    All prices that you see in the store will have HST (like the VAT in Europe) added at 13 %. Some, but very few will have this included in the quoted price. To be sure, add 13 % to every product and every service you see except food that you bring home to cook yourself.

    Summary of all this. You will find it difficult to live a month, spending any less than $ 1,600 per month.

    Welcome to Toronto, you will find it a fascinating place to live in and explore.

    Source(s): Live in Toronto
  • bw022
    Lv 7
    8 years ago

    You aren't going to come close to living for $1000 a month anywhere in Canada... let alone Toronto.

    A typical budget will look more like: rent $1000+, food $400, health insurance $200, transportation $200 (if you can bus) or $500+ for a vehicle, lights/power $100, phone $100, heat $100, cable/internet $100, clothing $100, entertainment $100, misc. $100, etc. Say around $2500/month is a minimum or around $3000/month if you have a vehicle. You also have fixed costs in most places for purchasing furniture for the apartment and, usually a vehicle. It is hard in Toronto to live without a vehicle and if you do... it often causes you to need to rent more expensive places since you need to be much closer to work or public transportation.

    You might be able to cut down on some of the expenses of an apartment by sharing one with someone else. This tends to have utilities and lowers rent slightly, but makes finding a place slightly more difficult and it can be a real hassle depending on who you are sharing with. If they move, can't pay rent, have drunken parties, etc... you can find yourself stuck in a lease or having to move.

  • 8 years ago

    No way you can do rent, hydro, food, transportation, phone, cable on a $1000 a month. You can find decent inexpensive bachelor apartments around the $900 range, but you still have to pay the rest of the expenses. I wouldn't even go near an apartment that rents for less, you'll be moving into a fleabag haven.

  • Ruth
    Lv 5
    8 years ago

    With a salary of a little over $4000/month you shouldn't have too big of a problem finding an apartment to live although finding a place and considering food and other expenses for $1000/month might be a challenge.

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