I want to move to Toronto, what's the cost of living?

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I plan on finishing my first degree here in my province then by the time I am finished, around 22-23 I want to go to UofT for my graduate studies. I have researched a lot and planned out carefully, or had a rough plan of my education (doing my degree here, graduate in Toronto)

I will be a FT student and looking for a PT job in Toronto (since I want to move there) I know Toronto is expensive, so while I am finishing my degree Iâll be saving up money (looking for a PT job right now) So my questions are as follow,

- How much is a studio/bachelor suite? (I know the price depends on the area, but I am curious about the range of pricing in different areas etc)
- Is it easy to get a job in Toronto? How much is minimum wage?
- How much would transportation (monthly pass, bus/subway etc idk)
- How much are the basics? (Internet, electricity, water etc)
- How much are groceries? (Only feeding me)
- How much is it to eat out? (I don't usually eat out...)

I do plan on visiting Toronto eventually, probably by 21 (itâs lame but my parents wonât let me do anything even if I am legally an adult. They say 21 is the age I can do whatever I want lol)

Btw, I am looking to permanently live in Toronto. So after I get into UofT, I plan not to only study there but move there as well. It's going to be a lot of money since I will be a student paying my expenses and school expenses too... so I am trying my best to prepare myself by knowing roughly the cost of living in Toronto.

Thanks. :D

Answer
I'm in Ontario, but don't live in Toronto, and obviously some things will depend on you and your habits and the particular house.

My costs in an older 1500sq ft 3 bed detached house.

Heating...they want $300 a month next year on our 10 month annual budget payment plan! (Currently an eye watering $1.30 a liter) Our water heater is oil fired too, and with small kids its probably costing a bit to do baths/ laundry all the time. In a modern well insulated place you shouldn't be paying a lot more than $200 a month, maybe $250. If its natural gas it will be a lot less.

Hydro (electric to you) about $100-130 a month on average.

Insurance, $90 a month (wont apply to a rental I guess)

Groceries for 2 adults and 2 kids under 5, about 500-600 a month, shopping at the cheaper stores. If you smoke or drink much it could be a lot more.

Phone $35 a month for the line and $10-20 for long distance

Cable TV $50 a month for pretty basic package. Satellite is much the same.

We have a well and septic, so no monthly water costs...someone else will have to fill that in.

Car costs for me are $300 lease payment, $100 insurance and about $100 a month for gas, but Ive been here a while, you insurance as a newcomer could be several thousand a year.

Question for SAHM: how do you do it?

in wit

Do you work a little on the side? Does your husband pull in loads of $ (totally personal and you dont have to answer that if you dont want to)?

Like I've said before my grandma watches my 13 mo old. And we do butt heads sometimes but she does take good care of her. Well I was talking to my mom this morning and she was saying that gma is getting too old and this is probably the last baby she will be watching. I know I want to have at least one more kid. Right now we live with my in laws and plan to move out and rent in a few months. WE can no way survive on one income. So IDK how we would ever have another baby. I dont think I could have a stranger watch my kids especially when they are newborns. I would love to stay home but we just cant afford that
awww Ashley. thats not nice. Just so you know my grandparents are well off and have giving my daughter loads of money so she will have some by the time college comes. Also, If i was able to stay at home or ideally work at home, I would only do it until my kids are old enough to go to school. I love working but I would like more kids and if no one in my fam can watch them, then fam comes first and I would like to do it myslef
LA, mystic_eye~ you guys rock! and give me hope. My husband brings in about $2400-2600 a month. He has been working at this job for a few months now. before that his old compant was cutting hours, he ended up bringing home about $1400-1600 a month. so we have been doing ALOT better recently . we did have to pay for our daughter's first bday party which was expensive (first bdays are a BIG deal in hawaii). we are slowly saving more now.

Answer
People have a misperception that two income families with kids have more money than those that have only one income.

Unless the person that would stay home makes twice the cost of childcare per hour chances are that you are not coming out ahead after you take into account commuting, convenience foods (for home), coffee/snacks at work, dry cleaning, sick time, blah, blah, blah.

I live in Toronto, one of the most expensive cities in North America, I believe we are still in the top 20 on in the world. My husband makes maybe $34,000 in a good year. And we own a house.

Our weekly expenses (mortgage, electric, gas, insurance, internet, tv, phone, etc) are $440 per week. That's not including gas for the car or food. My husband makes between 350-700 per week. Most weeks its only around $500-550. I get about $300 a month in tax benefits.

We have two kids, but we manage. Its tough, I won't lie. Those unexpected expenses (vet bills, car repair, dental) can be a real kick in the crotch and it seems like its always something. And honestly I'm just not that good at sticking to a budget, I hate to deny my kids or husband anything they want. Especially "little" things that are like $1-10 but a few a week can really add up.

If its important to you you will find a way. Honestly we could cut back more, I could get a free internet provider, we could use VOIP or cut back on features on the phone. I could actually stick to a budget *lol*.

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