How Much We Spend: Cost of Living in Canada (Millenials)

[@MakeThatChange]

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[@stephanebriand405]

Thank you so much for your openness, I am a french Canadian (Québec) and it is sort of taboo here to talk about your finances. We have been tracking all of our expenses monthly for two years now so we know exactly where our money is going. Obviously our mortgage is much cheaper than yours, as we own a house located just outside of Gatineau/Ottawa and we pay $1,500/month for mortgage, taxes and insurance. We are a family of five so our monthly grocery bill is at $1,000/month (food only, hygiene like toilet paper is in another category). Utilities for us is at $500/month ($250 in hydro electricity and $250 for cell phones and internet). We own two cars so that amounts to $1,400 in car payments, insurance and gas (one is hybrid). Our leisure is pretty high at about $1000/month but this includes sports for the kids, family activities and date nights.

[@MissLadySoul]

My husband and I live just outside of Montreal (North shore). With the mortgage (single family house - split level) and other regular expenses, we're at a monthly total of $4000.

[@MakeThatChange]

Goals! 💪

[@napke8571]

Ok, this is an interesting one, good job first to say. In the Netherlands as follows as I am Dutch. And I am open and honoust, no secrets: 3140,00 Euro netto salary ex bonus in the end of the year. The breakdown: 520 netto for mortgage ( interest 1,3% very lucky with this ), around 200-250 to drive my Volvo V70 ( 2011 diesel ), around 300 for food and drinks, utilities around 360, health insurance 130 ( we do have a great healthcare system I have to say with own risk 340 ), other insurances around 120 together, leisure it varies but around 100 and 'unforseen' around 80 and last but not least pay-off my study loan is 180 netto, grand total around 2050 netto So, I can save. I was very lucky with my house 11 year ago. Love your videos and ' de groeten uit Nederland' :)

[@MakeThatChange]

Thank you for sharing this! Would love to come back to Netherlands soon! Cheers 🙌

[@Randorandom232]

​@@MakeThatChange haha, you got bored of canada?

[@MakeThatChange]

Travel and exploration is a beautiful thing. it gives us perspective and helps us be grateful for what we have.

[@RetroDiver]

Canada is expensive because of housing, especially if you bought or started renting in the last five years. Everything else seems too expensive mainly because everyone is tapped on just putting a roof over their heads. After a recent trip to NY state, I realized goods (with the exception of gasoline) are generally more expensive in the USA.

[@sexygeek8996]

Really? I lived in both Canada and USA and I found that almost everything is less expensive in the USA.

[@MakeThatChange]

Interesting observation re:US. Thanks for sharing.

[@ianwahome5394]

you ladies just make me smile always.Watching from Nairobi

[@MakeThatChange]

🙏

[@Sibi_qwerty]

One thing about Hello fresh, i dont know how many of you have encountered this, Hello fresh has third party agents in some stores selling this meal plan. The agents work for an MLM organisation. If you're buying the meal plan from an agent in person, he or she is probably stuck in an MLM job. The same company that does UNICEF donations in downtown Toronto, credit cards at Canadian tire, door to door Telus and Rogers connections.

[@veramae4098]

Just a funny, I think -- I signed up with a company to help me more to Canada. I'm a retired librarian. I mentioned I inherited the family farm and I've had to do a lot of upgrading. We talked about that, and he said "so you're also a property manager".

[@jmpht854]

Thank you for your openness about this! I've made several international moves and it's always the day-to-day spending that is the hardest to research before actually arriving somewhere. And thank you also for including transportation! My husband wants us to get a car when we move to Toronto and I have been against it 'cause I don't like that lifestyle (also, everyone is overweight in North America for a reason!), but now I have some numbers to back my side of the argument up 😂

[@Explore_Montreal]

Thanks for sharing such amazing videos. Keep up the great work. Thank you❤

[@MakeThatChange]

Thank you! Will do!

[@KamBar2020]

​@@MakeThatChangeWill you two celebrate Halloween 🎃 this month ❓

[@MakeThatChange]

@KamBar2020 we plan to, but minimally 🎃

[@KamBar2020]

@@MakeThatChange Awesome 👍 Anyways, come to the States bcus It's Election Time. Immado Slava TRUMP early November 🇺🇸💯

[@MakeThatChange]

funny you mention, we will actually be in the US soon after elections!

[@natalialy154]

Glad that you go toward FI. Saving and investing every month consistently . Great job!

[@veramae4098]

But WATCH IT. I had $400,000 stolen from my IRA. Didn't notice for years because I was in bad Depression.

[@dennislaur2515]

We are a family of four living in London, Ontario and our monthly expenses are close to what you spend. We did buy our house when the market was down, so our mortgage is lower. It is off set though as we have the added expense of two special needs children.

[@allyarnsconsidered]

Comment to support the channel

[@MakeThatChange]

♥️

[@lornecadeau8172]

I'm a Canadian American.i.live in southern Nevada on a half an.acre my mortgage is 850 a month includes taxes and Insurance you girls must be rich

[@francoistchiakpemarketing]

Thank you for being so transparent.

[@MakeThatChange]

You are so welcome

[@rcstar2242]

i live in montreal and i own a single family house. my total expenses with my partner is about $5000 per month so about $2500 per month per person

[@MakeThatChange]

Life goals!

[@lindsman682]

I live in Edmonton and I have to say your utility costs, and food are much less than our comparable home. Our mortgage is waaaaay lest though, roughly half.

[@MakeThatChange]

lucky you on the mortgage! 🙌

[@sergey_ilushin]

Thanks a lot for sharing it!! I would say, living in south etobicoke (aka Toronto), my wife and I spend around $2,500. I got lucky, and my rent for 1bd apartment is only around 1k (it's a miracle for today's GTA prices). The rest is everything else, which includes $200 insurance for my paid-off car. But it's too old (2008 chevy with 300k kms), and idk why it's so expensive. I love your channel, Nasta and Anna! 🥰

[@MakeThatChange]

Great numbers to strive for! It seems like the only way to lower insurance in this country is either live in Quebec or... outside the country :)

[@Explore_Montreal]

Since we arrive at Montréal the spending, we have around 4500$ no matter what we try ti keep it down its tough.. especially for a new comers. We tried to study moving to Toronto seams impossible 😅 now due To unrealistic prices there.. Our own issue is time and days they are passing by very fast we don't feel the time compared to other countries. This is affecting our health and quality of life ..Hopefully we will adapt someday! . Thanks

[@MakeThatChange]

That’s a reasonable amount! Well done on spending. Have you been able to find a job yet?

[@Bochko89]

Interesting, I am living in Ireland, living weekends with my parents during the week I'm in my rental room in Dublin. My budget is 3128 after tax, also twice a year I get an extra 1,564 euros. Rent 400 p/m Car Fuel 480 p/m Tool bridge 70 p/m Phone 30 p/m Bills 250 p/m Car Insurance 80 p/m Food 320 p/m Personal loan 230 p/m monthly subscriptions 160 p/m Total expenses of 2000 Euro per month. I should have s*it tons of money saved in my bank account by now. However, I feel like I can't save a penny and also it feels like I can`t afford my own house.

[@chemundergrad]

In BC a family of 3 we easily spend $1200 a month on food and groceries. We have a househole income around $200k and mortgage is around $2700 + $150 strata monthly

[@MakeThatChange]

Sounds like you’re in a very comfortable spot!

[@HuatulcoGuy]

If you two could live outside of Canada and rent a nice apartment, you could easily live on a little less than $3,000 CDN a month, and that includes health insurance. Sure you would not be home owners, but you could invest $6,000 CDN a month ($72,000 a year) and add the gains you would have realized on that investment.

[@MakeThatChange]

One day, if the right country comes along! 🙌

[@veramae4098]

I want to move to Canada and become a citizen (Trump terrifies me) but I'm not sure I can afford id.

[@ebadmas9506]

Great video. Thanks for sharing!

[@MakeThatChange]

Thanks for watching!

[@vladoffline]

The grocery bill seems rather low. Did you exclude Uber Eats deliveries? Cause they are not in any other category 😅😊

[@MakeThatChange]

They are in the “entertainment/dining out” category. Since we didn’t really go out that month, nearly the entire number is Uber eats 🫣

[@valeria-militiamessalina5672]

Ghislaine Maxwell, the well-to-do socialite/convicted sex offender once said to a Canadian-American that she would never buy property in Canada and especially Toronto. She infamously claimed that Canada only offers "second class quality for first class prices" and SHE could afford to splurge!❤

[@MakeThatChange]

Convicted individuals lose any social credibility the moment they decide to commit crimes.

[@User12345fan]

@@MakeThatChangelol i don’t think her criminal mind affects her logic about economics, but I wouldn’t pick her as an example.

[@murraytown4]

Super interesting. It’s always fun to compare. I pay about $4800/year in property taxes for 1200 square feet. Ottawa property taxes have been kept well below the rate of inflation these past years but the chickens will be coming home to roost next year. I wish I had your grocery bill. Mine is almost twice yours, but I don’t scrimp on food and rarely eat out, but have a ton of Optimum points. I probably spend north of $5K/month as a single person. Note, I’ve no mortgage - or debt of any kind - but my condo fees are certainly getting up there - north of $900/month. Paying someone else to shovel snow is a guilty pleasure.

[@MakeThatChange]

Thanks for sharing this! There are 3 things one could watch indefinitely: fire, ocean and someone shoveling snow ⛄️

[@adsaci]

How to do save your savings via auto pay? Do you invest them in RRSP or TFSA? Thank you!

[@MakeThatChange]

We use Wealthsimple. It allows to set up automatic recurring deposits of whatever frequency you prefer. If you have a managed investment account ( the support both TFSA and RRSP), they will also automatically invest your deposits without you having to even think about. If you’re considering trying it out, use our code to get $25 referral reward - IEQ2DA or link wealthsimple.com/invite/IEQ2DA

[@rcstar2242]

grocery bill is pretty good. what do you guys do for work to afford your lifestyles? seems like an expensive one but you are in the GTA

[@MakeThatChange]

We’re in technology and resource engineering.

[@alexsokol3827]

Would be interesting to see some numbers of a house owner, who already paid mortgage.

[@MakeThatChange]

some commenters here have their mortgage paid off or almost paid off. The upside is incredible in not having rent or mortgage to pay!

[@sharmajikabeta9930]

2 adults 2 cats midtown toronto! The numbers seem similar without even owning a house 😅

[@User12345fan]

Yeah, I will definitely not be owning a home in Canada. Rent seems better and invest the rest.

[@MakeThatChange]

Right on!🙌

[@ASC-i8v]

Hi! Just out of curiosity. Did you run the housing cost numbers before deciding to buy instead of rent? If so, how did you do it?

[@MakeThatChange]

Yes. We used several online rent vs buy spreadsheet calculators, factoring all interest rates fluctuations, rent, renos, cost of living in the city, stock market returns (opportunity cost) etc.. The numbers for rent vs buy were nearly identical with the current rate we got, with slight "buy" disadvantage but an obvious eventual advantage when/if interests go down. We operated under assumption that the housing market correction was at it's most possible lowest point (which we timed nearly perfectly with a few months off). Let us know if you'd like us to share the spreadsheet we used. That's how we decided to buy. There were additional considerations like near-future family relocation and our plans to quit our jobs, which would have impacted our mortgage eligibility.

[@Supertimmylamb]

love you ladies!

[@MakeThatChange]

🫶

[@anasfrh]

Housing is crowding out other consumption buckets and this is a good example is to why Canadians are spending less and less on travel, entertaintment. No wonder the canadian economy is so stagnant when even folks in higher income brackets need to dedicate 50% of their income to housing. I was very surprised to see how small discretionary spending was in your budget (I am speaking about going out). Is the $800 that you put into investments in addition to RRSP/TFSA investments not mentioned here? Seems like $800 per month is quite low but can understand the housing might be stressing finances at this stage.

[@burpbee1]

No wonder your cost of living is sooooo high! You live in one of the most expensive cities in Canada! I live in Ontario, and my living expenses are one third of your total!!

[@thomasbeltrame2193]

Just loved the mini soccer field

[@AJAJAPWNZ]

У волмарта подписка 10$ в месяц безлимитные доставки groceries. Не по завышенным ценам. Сохраняет много времени и денег.

[@MakeThatChange]

👀 sounds like a really good deal!

[@icevoss9917]

Thanks for sharing, it sure is expensive and makes your head spin. Ok...Apartment including heat, water, hydro 1500.00. Car, petrol, insurance, maintenance, 400.00 a month. Eating out, once a week, 50.00, using free indoor pool and workout at Apartment, using free things to do and meet friends for nature walks or in the winter for ice hockey games on the pond. Free concerts, free festivals, hey we living in Canada. Free is in.

[@vikramt525]

Why are you paying for both car lease and transit in transportation ? You can save money in a car or public transit

[@MakeThatChange]

Generally we drive, but there are cases like going to Toronto in a rush hour where it's faster to take public transit, rather than drive in traffic. However in other instances driving is faster, since public transit sucks

[@User12345fan]

@@MakeThatChange i really can’t critique your spending, I think you are doing really well. Things seem reasonable, and you are not even going out with friends. That’s where the money gets blown mostly.

[@moncusseydupoulet4755]

car insurance 200 cad? depends o. the province, in alberta, it's more like 400-500.

[@MakeThatChange]

in Quebec you could get one for under $100

[@dmytro1675]

⁠@@MakeThatChangeI pay about $65 in Nova Scotia

[@sufyanmukri9610]

I don't own a house. So my rent is lower. Also, I have no pets, so I save on that. I think ur gym membership per month is on the higher side too. Overall great video

[@MakeThatChange]

Thanks for this!

[@sufyanmukri9610]

@@MakeThatChange No problem 😊

[@teejaylecapois9741]

I live in Ottawa. It is affordable for now. It is just boring. 😂

[@BrianAiya]

What about investments? like investing in your TFSA

[@MakeThatChange]

that's part of our savings category, we invest 80% of what we save.

[@ijeomaigobah]

Pardon my off topic question, just curious. Are you siblings?

[@willujames4989]

Just missed this one by 2 hours. I am trying to get the hubby to eat better. He is 18 years younger, so he thinks he does not have to. Ah youth. You guys crack me up.

[@MakeThatChange]

You got this!

[@newworld6474]

do you have a favorite lentil recipe?

[@MakeThatChange]

Scottish Lentil Soup with sausage 😍

[@User12345fan]

Are you girls pursuing financial independence?

[@MakeThatChange]

Yes 🙌 how about you?

[@User12345fan]

@@MakeThatChange yes, knowing your personality I wouldn’t have a doubt. I know you don’t calculate your home, but in a few years the home will be worth more than the amount of debt, so you’re slowly getting wealthier (apart from the 800 in index funds and pension plans). I think you are on a very good path.

[@zoltann2151]

What about costs of having kids?

[@MakeThatChange]

People with kids shared their expenses in the comments section

[@icevoss9917]

Ps. I need hello fresh, I'm running out of ideas to cook...😂

[@chinonsomichael9839]

Awesome videos

[@MakeThatChange]

Thanks!

[@user-mi6pq2uu9s]

For you to afford spending $ 8800 per month, you need to make a minimum of 147k annual combined. And you won't be able to make any savings. 3rd world standards are loading fast in Canada...

[@MakeThatChange]

3rd world standards usually are defined by cheap housing, high child mortality and poverty rates, political instability.

[@30kenton]

Housing Is expensive..I think u can cut food ..the cat food as well ..nice job ladies

[@MakeThatChange]

Our cats saw your comment and they strongly disagree😁

[@user-mi6pq2uu9s]

The answer is "Way too much"

[@MakeThatChange]

🥲

[@DimasFajar-ns4vb]

alaska

[@TomPistol]

Justinflation is really bad in Toronto!! keep voting for Trudeau

[@ВладимирИвашечкин-п4е]

3 hundred dollars per month??? Sounds too small. )))

[@MakeThatChange]

You mean utilities? We barely use electricity in the summer, so that helps lower the bill!

[@ВладимирИвашечкин-п4е]

@@MakeThatChange ups, ssorry. I divided almost 600 hundred your groceries on two. I meant 300 hundred per person.

[@MakeThatChange]

gotcha! well we do uber eats a bit too much, but also... we don't eat that much meat which can add up as a big expense 🙃

[@Flashquiz12477]

are you guys maried?

[@MakeThatChange]

no

[@Gary-l6o]

Oh, Good God, So it is true, that some women don`t know the value of a dollar. Over 8,000 a month to live? They never said what they`re income was, or child support payments they maybe getting. I have a 2 bedroom home, nothing fancy, but with the up grades I have done, it`s a very comfortable home. I pay 841.00 a month, and my land taxes are included in the mortgage, 200.00 per month for hydro, 65.00 internet, 35.00 for cell phone, and I take the bus, 40.00 per month. And I also drink some beers, maybe top end, 100.00. I spend around 400.00 on food, and I have my son who lives with me, so it`s 1700.00 in total, my monthly income is 2500.00, so if you live with your means, you have live. And I live in Ontario.

[@MakeThatChange]

Your value of the dollar assertion is unnecessary, but congrats on your frugal lifestyle 🙌

[@greenfractal]

Lol, it seems you haven't watched their other videos because they both work in tech/engineering, which goes a long way to explain how they can afford all this. Also, weird assumption about the child support payments when they directly say who lives in their house at the start of the video. Who are they getting child support for, their cats? 😆

[@sudhirmaisker3146]

Make video on international student mess and Indo-Canada tensions, rather than making generic videos.

[@MakeThatChange]

Not interested in those topics. Other channels will satisfy your needs on this better.

[@sudhirmaisker3146]

@@MakeThatChange You are already on right path congratulations. Nice answer, looks like you are doing postive PR on Candad.

[@WilsonWilson-ec9dq]

Canada is wonderful if you have money, but not worth it if you're trying to "make it".

[@flywithme7]

Work harder.

[@MakeThatChange]

My (Anastasia's) family came here and ran out of savings within the first 3 months back in 2009. My mom looked for jobs day and night for the first 6 months, and finally managed to find something, I had to work part-time while going to school full time (took out loans to pay for my own education). We've worked our way up, worked hard and got where we are. Where we come from, the path to the same achievement would have been much harder than in Canada, and at times, even more dangerous.

[@AdeniyiAdesanya]

​@MakeThatChange Congratulations, you deserve all the enjoyment, having put in the hard work. By the way, what's your take on a new immigrant settling down in Whitby with family? I will appreciate your sincere review. Thanks in advance!

[@John_wilchuk]

What about your monthly scissors cost?

[@MakeThatChange]

We cut our own hair 💇‍♀️

[@User12345fan]

What a dick

[@John_wilchuk]

@@MakeThatChange you gotta make that change.

[@vibesmusic6407]

​@@John_wilchuk😂😂😂

[@Kingkhxnsc1]

Hi I am hasham from Pakistan Can you please help me with the most reliable method to move Canada from Pakistan I am a college student and I just will be done with that after an year can you help me with that. I want to contact you if you want me to do that actually 👍