I have lived in Vancouver since 93, quiet little hippy city has turned into a foreign and absolutely different place that I remember growing up. Nobody seems to be polite, courteous, everyone is angry, everything is beyond over priced . To live in Vancouver COMFORTABLY, you need 60K + a year. Living day to day just to make ends meet IS NO LIFE. I have had absolutely enough and I'm planning to move out of the lower mainland permanently. I'm 36 years old, thank goodness have a great paying job, and I live like a hermit to bank and save , to permanently leave. I'm planning this right......Eff this foreign non canadian lifestyle .
and all that on far less than $2745 a month. I would love to make that kind of money. But age and Strata bylaws that prevent room-mates prevent that.
try $1000 a month for transportation (gas, insurance) (no not all of us can ride a bike or take transit - you cannot haul ladders on transit, or construction materials) ). Try $80 for internet (my only entertainment) (i don;t go out ever, last movie in a theater was 10 years ago), try $35 for cell phone (6 year old celll phonel, basic call plan, try $350 a month in Strata Fees, $300 a month for uilities (i rarely use the heat in winter, can't afford it) , $500 - 700 a month for basic food (i rarely eat meat, can't afford it) , no packaged foods,no eating out , no daily coffee), try $100 a month for apt insurance, and every once in awhile insane medical costs.
I see a lot of people complaining in the comments, I am a millenial and I spend about 1.1k per month total. I live in Vancouver with roommates. rent: 500$ food:100$ utilities:70$ school:300 transit:100$.
Yes these are all per month
If you know how to budget is not that bad, just don't spend money that is not required.
The original blog post from Lowestrates.ca does an okay job explaining how these basic numbers were developed - for Toronto. And I can see why the reporter brought the same info to a Vancouver audience. I question the accuracy of the groceries and entertainment budgets and the inclusion of something arguably superfluous like a gym membership instead of student debt or car ownership costs. But the real point of the story is that you need a minimum of $40K to just barely survive in Vancouver/Toronto. That's not living.
And this is especially so for millenials who are now at the age where having children is higher than other age brackets. There is so much more at stake here than just making ends meet.
The grocery budget makes no sense, that's approx $7 a day for food, barely over what's considered poverty ($5 a day).
$20 a month for content insurance is also inaccurate (usually around $35) however most millenials don't even purchase the insurance.
the average monthly student debt payments should also be factored in, considering to make around the amount "required" income level some post secondary education is almost necessary
This info is incredibly inaccurate and unrealistic. I suggest the author to try and stick to these guidelines.... And wish you luck
It’s not only the Millenials that are struggling here. I’m a boomer and find it difficult to make ends meet let alone save for retirement!
I work on commission... And, make between $6,000-10,000 (take home) on varied months, due to hard effort, fortune and the economic cycles.
Never knowing my exact income per month makes budgeting difficult... Despite the fact that I have a good job.
Vancouver and the suburbs are beautiful, but very expensive... Atcually experiences what we have to offer in the Lower Mainland is costly in terms of the hours you need to give up working just to enjoy a good lifestyle.
Even living outside of the city centre...
I find myself frequent living beyond my means.
Rent in the rural area of Vancouver is now over $2,000 for a Townhouse, plus utilities.
And, of course you NEED a vehicle, expensive ICBC auto insurance and some of the most pricey gasoline in Canada.
I worry about the welfare of future generations and the society we are leaving for our children.
So to make ends meet you're telling me I have to pay the rent prices of 80% of my pay and only travel in zone 1 public transit and live off no food and have no debts... Who compiled this awful budget sheet?
This pole is way off .. nobody eats $270 groceries in a month.. it's more accurate at $150 a week .. if you eat carefully. If you eat out .. of date .. it's higher still.
This is what the government should be talking about. They should be negotiating tax savings for businesses that pay a living wage based on where the business is located. The trouble with minimum wage , even at $15 an hour , it doesn’t help people living in the lower mainland but is more than enough for someone in a smaller community. It hurts businesses in smaller communities that don’t have enough volume to support the higher wage. We definitely need a minimum wage but we really need to talk more about living wage.