How much money do you need to live comfortably in Canada?

How much money do you need to live comfortably in Canada?

How much money do you need to live comfortably in Canada?

Living above the national average living cost in Canada should be just the right amount you need to live comfortably in Canada. However, living comfortably in Canada is also subjective and could depend on individual lifestyles. For instance, if two people earn $7,000 in a month, one of them opts for accommodation in less populated areas just to cut down the monthly expenses to $5,000 per month.

And the other decides to live in the big city where things are more expensive and can hardly keep up with the monthly rents, not including other expenses. Who would you say lives more comfortably?

This scenario illustrates living according to your earnings which is totally different from living comfortably. we initially said that living comfortably in Canada is being able to pay your bills and whatever you need without flinging. This includes living anywhere you want, be it the big cities.

 The amounts of money you need to live comfortably in one province or city differ from others. Just to give you an example we have listed the top most expensive cities to live in Canada. We also listed the top 10 cheapest cities in Canada and the average cost for one person or a family of 4 persons.

Top Most Expensive Cities in Canada

CityAverage Home Price
Vancouver, British Columbia$1,087,500
Toronto, Ontario$768,400
Victoria, British Columbia$672,800
Hamilton-Burlington, Ontario$591,481
Calgary, Alberta$430,00

Cheapest Cities in Canada to Live in

CityAverage Cost Per PersonAverage Cost for 4 People
Sherbrooke, Quebec$878$3,206
London, Ontario$1,013$3,646
Winnipeg, Manitoba$1,070$3,829
Moncton, New Brunswick$1,065$3,840
Kitchener, Ontario$1,071$3,786
Saskatoon, Saskatchewan$1,131$3,945
Regina, Saskatchewan$1,124$4,012
Saint John, New Brunswick$1,176$4,205
Calgary, Alberta$1,154$4,110
Edmonton, Alberta$1,183$4,191

As the tables have shown above, there are differences in the cost of living across different cities in Canada. So, living comfortably in Canada will largely depend on whether you live in the big cities or an inland region.

However, a good salary range to enable you to live comfortably should range from $42,000 and above per year. Keep in mind that this amount could move up to $60,000 for a family of 4 and could even increase more if the number of family members increases.

How is the Canadian Government Helping?

The Canadian government has since made it a goal to ensure that the life of each person living in Canada is made comfortable. They provide free healthcare for residents, free education for students, and several loan options that are easy to access.

Life in Canada can be a lot easier for you if you get a good job, earn a good salary every month, and do not live above your means. Canada is beautiful and they are constantly welcoming immigrants to help populate the country. You too can begin life in Canada today if you immigrate.   

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