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Expenses in Canada

fatani

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Nov 15, 2015
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I think new immigrant with his wife can earn good and save money.
If both do odd jobs for a year for about say $15 an hr. So in a 40 hr week. Weekly earning is around $600 multiply it by 4 so it makes $2400 add one or two more days as there are 21-22 working days in a month so it is roughly around $2500. Both husband and wife are earning so make it $5000 a month. So it makes $60,000 a year. Cut 20% tax. After tax $48000 remains. Monthly rent of an 1 bedroom apartment $1000, Grocery for 2 peoplre $300-400, transportation cost, $300, Outdoor dinners and going out for month $300, Shopping and other costs, $400. So roughly expenses of a month is $2500, multiply it with 12. Yearly expenses are $30,000.

So looking at this income is $48,000 less expenses $30,000 = savings $18,000

So in the first year even after doing survival jobs savings are $18,000. Which is not bad.
 

ravdawg

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Oct 7, 2013
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fatani said:
I think new immigrant with his wife can earn good and save money.
If both do odd jobs for a year for about say $15 an hr. So in a 40 hr week. Weekly earning is around $600 multiply it by 4 so it makes $2400 add one or two more days as there are 21-22 working days in a month so it is roughly around $2500. Both husband and wife are earning so make it $5000 a month. So it makes $60,000 a year. Cut 20% tax. After tax $48000 remains. Monthly rent of an 1 bedroom apartment $1000, Grocery for 2 peoplre $300-400, transportation cost, $300, Outdoor dinners and going out for month $300, Shopping and other costs, $400. So roughly expenses of a month is $2500, multiply it with 12. Yearly expenses are $30,000.

So looking at this income is $48,000 less expenses $30,000 = savings $18,000

So in the first year even after doing survival jobs savings are $18,000. Which is not bad.
What's the point of this post?

Sure, it is definitely possible to have savings left over.

The expenses will vary depending on province...

Depends on where you are living. Rent can be more or less. Then little things like rent insurance, electricity, water maybe. Cable subscription or at least internet(almost a necessity these days). Phone bills x2.

Groceries can be more or less as well.

Transportation cost, 300$ could be safe, maybe not- would they just be using public transport? Car? 1 car? 2 Cars? What about insurance? That can easily be 1500-2000$/year in some provinces.


Also 60K gross to 48K net may be generous, depending on province. Could be more like 43-46K. Different provinces taxes vary.


Overall you'll be able to save some money but incidentals and emergency funds are always necessary.
 

Alexios07

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Jun 22, 2015
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fatani said:
I think new immigrant with his wife can earn good and save money.
If both do odd jobs for a year for about say $15 an hr. So in a 40 hr week. Weekly earning is around $600 multiply it by 4 so it makes $2400 add one or two more days as there are 21-22 working days in a month so it is roughly around $2500. Both husband and wife are earning so make it $5000 a month. So it makes $60,000 a year. Cut 20% tax. After tax $48000 remains. Monthly rent of an 1 bedroom apartment $1000, Grocery for 2 peoplre $300-400, transportation cost, $300, Outdoor dinners and going out for month $300, Shopping and other costs, $400. So roughly expenses of a month is $2500, multiply it with 12. Yearly expenses are $30,000.

So looking at this income is $48,000 less expenses $30,000 = savings $18,000

So in the first year even after doing survival jobs savings are $18,000. Which is not bad.
You don't pay taxes? and EI and CPP?
 

scylla

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fatani said:
I think new immigrant with his wife can earn good and save money.
If both do odd jobs for a year for about say $15 an hr. So in a 40 hr week. Weekly earning is around $600 multiply it by 4 so it makes $2400 add one or two more days as there are 21-22 working days in a month so it is roughly around $2500. Both husband and wife are earning so make it $5000 a month. So it makes $60,000 a year. Cut 20% tax. After tax $48000 remains. Monthly rent of an 1 bedroom apartment $1000, Grocery for 2 peoplre $300-400, transportation cost, $300, Outdoor dinners and going out for month $300, Shopping and other costs, $400. So roughly expenses of a month is $2500, multiply it with 12. Yearly expenses are $30,000.

So looking at this income is $48,000 less expenses $30,000 = savings $18,000

So in the first year even after doing survival jobs savings are $18,000. Which is not bad.
Is this based on first hand experience? Are you living in Canada on this income, with these expenses and coming out with $18,000 in savings annually? My guess the answer is no. I think you're going to find life here is more expensive than you expect.
 

fatani

Hero Member
Nov 15, 2015
689
222
ravdawg said:
What's the point of this post?

Sure, it is definitely possible to have savings left over.

The expenses will vary depending on province...

Depends on where you are living. Rent can be more or less. Then little things like rent insurance, electricity, water maybe. Cable subscription or at least internet(almost a necessity these days). Phone bills x2.

Groceries can be more or less as well.

Transportation cost, 300$ could be safe, maybe not- would they just be using public transport? Car? 1 car? 2 Cars? What about insurance? That can easily be 1500-2000$/year in some provinces.


Also 60K gross to 48K net may be generous, depending on province. Could be more like 43-46K. Different provinces taxes vary.


Overall you'll be able to save some money but incidentals and emergency funds are always necessary.
I am talking about Ontario. 1 bedroom apartment with all utilities included in missisuaga is about $1000. And taxes are 15% on first $45,282 so if both are earning $30,000 then tax should be 15% each . But I have made it 20% because of other taxes. Transportation includes public transports. Rails and busses not expensive taxis.