The high cost of living in Canada is often cited as a reason why people don’t want to move here. But the truth is, the average cost of living in Canada is actually quite affordable – especially when you compare it to other countries with similar standards of living.
In this blog post, we’ll take a look at some of the main costs that go into making up the cost of living in Canada, and how they compare to other countries.
The biggest expense for most people is housing. In Canada, the average price of a detached home is around $500,000. This may sound like a lot, but when you compare it to other countries like the United Kingdom, where the average price of a detached home is over $1 million, it’s actually quite affordable.
The cost of renting is also relatively affordable in Canada. The average rent for a one-bedroom apartment in a major city like Toronto is around $1200 per month. This is still expensive when you compare it to other countries like India, where the average rent for a one-bedroom apartment is only $300 per month.
Another major cost of living is food. The good news is that food is actually quite affordable in Canada. For example, a loaf of bread only costs around $2.50, and a carton of milk is only $3.50. That’s cheaper than in most other developed countries.
The cost of transportation is also quite reasonable in Canada. The average price of a gallon of gasoline is around $3.00, which is cheaper than in many other countries like the United States and Australia. And if you live in a major city, you can get by without a car altogether thanks to the excellent public transit systems.
Average Utilities Cost and Bills:
The final cost we’ll look at is utilities. The good news is that the average utilities cost in Canada is quite affordable. For example, the average monthly electricity bill is only $80, and the average monthly phone bill is only $50. That’s much cheaper than in many other developed countries.
Cost of living in Canada for international students:
The cost of living in Canada for international students is actually quite reasonable. tuition fees are around $6000 per year, and the average monthly cost of living is around $1200. That means that you can live relatively comfortably in Canada on a student budget.
Cost of living in Canada for a family:
Assuming a family of four, the cost of living in Canada is quite affordable. In fact, according to Numbeo’s 2019 Cost of Living Index, Canada is the 13th most expensive country in which to live. The index takes into account rent, food, transportation, and other necessary expenses.
For example, a family of four would need an average of $3,790.68 per month to cover all their expenses in Canada. This includes rent for a three-bedroom apartment, food, transportation, utilities, and other necessary costs.
While the cost of living in Canada is quite affordable, it’s important to remember that there can be significant variations from one region to another. For instance, cities like Toronto and Vancouver are generally more expensive than smaller cities or rural areas.
So, if you’re thinking of moving to Canada, be sure to do your research and find out what the cost of living is like in the specific region you’re interested in.
How to save cost while living in Canada:
1. Choose a less expensive city to live in
2. Consider sharing an apartment or house
3. Get a roommate
4. Limit your spending on nights out and groceries
5. Use coupons and take advantage of sales
6. Be strategic about where you shop
7. Cut back on unnecessary expenses
8. Invest in a good winter coat
9. Take public transportation
10. Get a bike
11. Take advantage of free entertainment
12. Use a prepaid phone plan
13. Save on accommodation costs by Couchsurfing
14. Get a library card
15. Make your own coffee
16. Bring your lunch to work
17. Cut back on drinking
18. Avoid tourist traps
19. Enjoy the outdoors
20. Use student discounts
While the cost of living in Canada is relatively high, there are ways to save money and make your dollar go further. By following the tips above, you can enjoy all that Canada has to offer without breaking the bank.
Overall, the cost of living in Canada is actually quite affordable – especially when you compare it to other developed countries. So, if you’re thinking of moving here, don’t let the high cost of living discourage you. There are plenty of ways to save money and still enjoy a high standard of living.