How high is cost of living in Canada | How much do you expect to spend

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Let's talk about Monthly budget in Toronto for a single person:

Canadian government requires new immigrants to bring sufficient funds with them so that they could support themselves during the initial days in Canada. This amount is the legal requirement and if you are unable to demonstrate that you have sufficient funds as per the size of your Family, you risk the refusal of your Application on financial grounds.

While it is difficult to provide an exact monthly budget for a single person living in Toronto as expenses can vary greatly depending on individual circumstances and personal preferences, these numbers can serve as a guideline for you.

Here is a general breakdown of some common expenses that a single person living in Toronto may incur:

📍 Rent:

The cost of rent in Toronto can vary widely depending on the location and type of housing. According to Numbeo's cost of living index, the average monthly rent for a one-bedroom apartment in Toronto is $1,622 but you can expect to spend as high as $2,700

📍 📍 📍 Utilities and internet:

📍 Basic internet service in Toronto typically costs around $50 to $80 per month.

📍 📍 📍 Phone:

📍 The cost of a phone plan in Toronto can vary depending on the specific provider and the features included. Basic phone plans start at around $50 to $75 per month.

📍 📍 📍 Transportation:

📍 Toronto has a comprehensive public transportation system, with a single adult fare costing $3.25. A monthly transit pass costs around $150. If you own a car, you will also need to factor in the cost of gas, car insurance, and any monthly car payments.

📍 📍 📍 Groceries:

📍 The cost of groceries in Toronto can vary depending on where you shop and your personal food preferences. According to Numbeo, the average cost of a basic meal at a restaurant in Toronto is $15, while a combo meal at a fast food restaurant costs around $10. A single person can expect to spend $350 monthly on groceries.

📍 📍 📍 Dining out:

📍 The cost of dining out in Toronto can vary depending on the type of restaurant and the specific dish. A meal at a inexpensive restaurant in Toronto typically costs around $15 to $25, while a meal at a more upscale restaurant can cost $50 or more.

Entertainment:

📍 The cost of entertainment in Toronto can vary widely depending on the activity. Movie tickets in Toronto typically cost around $15 to $20

📍 📍 📍 Health and fitness:

📍 The cost of health and fitness in Toronto can vary depending on the specific activity and any memberships or classes you may take. A monthly gym membership typically costs $50 to $100, while individual fitness classes can cost $20 to $30.

📍 📍 📍 Coffee:

📍 A cup of coffee at a coffee shop in Toronto typically costs $2 to $5.

📍 📍 Cost of living extras:

📍 This category can include expenses such as personal care products, clothing, and other miscellaneous expenses. The cost of these items will depend on your personal preferences and needs.

Car insurance:

📍 According to Kanetix, the average annual car insurance premium in Toronto is $1,445.

📍 📍 📍 Car monthly payments:

📍 If you have a car loan, you will need to factor in the monthly car payments. The cost of these payments will depend on the specific loan terms and the type of car you have financed.

📍 📍 📍 While this list of expenses is not exhaustive, it may give you an idea what you could expect to spend on monthly basis in Toronto.

📍 It is a good idea to create a budget as a new immigrant and ensure that you bring sufficient funds with you to be able to afford your monthly expenses and have some financial stability while you search for a job during your initial days.

📍 📍 Good luck! and we hope to see you in Toronto soon.
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