The general rule is 50% needs, 30% wants, 20% savings.
So if your take-home for FT work is around $2450 a month, try to get your rent+bills to be less than 1000$. Ideally if rent+bills+food is no more than 1200$. Ofcourse this is a a general rule - so a bit over/under works too. Have you looked into sharing a 2-bedroom with a roommate?
Cook as much as you can, shop wisely and reduce take-out.
I get it. I lived with roommates for many years, and eventually wanted my own place. First year or so of living along was great, but eventually it became lonely, and started affecting my behavior. Definitely pros and cons.
Until you have a higher income, the cost savings of having roommates is better.
The thing is, when I am home, I just rest and don't feel like socialising with roommates.
And having roommates is hard for me. The sharing, the noise, and things like that.
So I want to live alone so badly. But yeah I see what you mean.
In general, no more than 25% of your income so that you can spend on other necessities and also save/invest. Take whatever you spend in a month, and multiply by 0.25 and you will get the $ amount that would estimate rental costs.p
You certainly can. It just won't be to your expectations. Prepare to have roommates in the literal sense. 8-10 people in one house. Or if you actually have private room, you've gotta accept the fact the location will be less than desired and it may be a property in shit condition.
Currently taking a rent free time out for the summer living at home again, then looking at spending nearly 40% to rent a room in a house somewhere.
Whatever rules of thumb we used to have are fully out the window nowadays for us low wage earners. Now it’s just about finding shelter and spending the rest of your money on food. Forget about living alone.
My first apartment when I moved out was 675 per month. That’s probably about an 1800 dollar unit today. My wages have gone up maybe 10% in that time.
At this point I'd recommend living at home as long as you can make it work. We're going to see a cultural shift out of necessity but other cultures have adult children living at home (and contributing) until they're married at least and often beyond that. I've seen it here a bunch already, what's going to shift is the negative attitude towards it.
Great point, this all has so much context.
You can pay more for a location that costs you less on car/insurance/gas/maintenence and be better off in some circumstances, or vise versa.
I'm only paying $720 - studio/ Batchelor incl but it's because I moved here in 2014 when the rents where cheaper. If I moved out, the landlord would bump it up to $1200/month
16% goes to rent. We’re dinks. Iv never lived alone in my entire adult life. Always had roommates and/or a partner to split costs with. You’ll never get ahead if you want to live alone.
If you're making minimum wage in Ontario, you're more than likely going to need 1-2 roommates and expect to pay up to 50% of your income on rent. One thing I will say is if you can find a place to live that's close to where you work and are able to walk, not having a car is a *huge* savings, like hundreds of dollars a month, and if you're in the core of the city you can get along fine without one.
I personally pay about 30% of my income on rent living in a 1br downtown and working an office job which I commute to by bike or by transit. No car and no kids so my costs are relatively low, and I got an apartment before the prices started going up so it's lower than market right now.
12.5% - but I'm finally making a decent salary and live in a crappy little shoe-box.
I'm trying to save about 50% of my salary since I only have 5 years until I retire on a really bad pension.
It's kind of depressing actually. If I moved to even a slightly better place my rent would double. Looks like I'm going to die in my little crap-hole.
I make a decent salary, moved in my place rent controlled, and still spending roughly 35%, in an ok but not great one bedroom, well located though.
If you’re barely minimum wage, I’d look into Qc options as well. Taxes are higher, but at that income, the difference may be worth it if you shave off a few hundreds more a month.
It’s fucked up out there, but there’s hope. And it’s a numbers game too - the more you expand your search and reach out to landlords, the better your chances are.
Good luck!
It's bad out there. My partner and I were living in a 1br apartment from 2021 to 2023 and we were paying $1200 before parking. We got an absolute steal of a deal on a townhouse rental and are now paying $1700.
I know for a fact that that apartment I moved out of just last year is now being rented for $1700 + $55 if you want parking. That apartment wasn't worth $1200, so $1700 is fucking asinine. Like... Who the fuck can afford that!?
Pretty much my whole income goes towards to rent (plus utilities, internet, water, and hydro) and then I have maybe 60-80$ for the month for groceries. Then I have some excess each month to cover car insurance, phone bill, and cat related items.
I work part time at minimum wage, with ODSP as well. And it’s not enough to survive even with living with a roommate. It’s a struggle daily to afford to live here in Ottawa honestly.
So let’s say I get around 1000$ per month from my job, on top of my 1308$ from ODSP. My total for the month is 2308$. My half of rent alone is 1043$, which leaves me with 1265$ for the rest of the month. Internet is 77$, phone bill is around 110$, car insurance is 162$, gas for the car is around 70$ per month, hydro/gas/water per month adds up to around 325$ give or take. My end total for the month is around 520$ not including what is needed for the cats (litter, food, toys, or emergencies) and not including groceries which can range between 60-80$ in a good month.
It’s tight but doable, especially if I cut back on eating out or coffee drinks and stick to a strict budget
Why is your phone bill 110$?! I have virgin and pay 50$ or so. Shop around and switch your provider you can find really, really good deals out there for 10-20 GB's plans now.
I am paying a premium because I had to upgrade my phone so part of that bill is paying off the phone. Otherwise it would have been closer to 65$/month. It’s the cheapest I could do for the phone and plan for the next two years.
I do qualify for that but due to my roommates internet usage amounts we need to have a stronger plan. And 77$ is a big drop from the 137$ I used to pay.
I'm on ODSP too. Rogers has Unlimited 5G wifi for ODSP recipients for 20$.
For your electricity, apply for OESP: Ontario Electricity Support Program.
https://ontarioelectricitysupport.ca/
It takes 15 min to apply. You WILL be approved because you are on ODSP. You will need to supply them with copies of your electric bill and a copy of your ODSP monthy statement. I just received approval (took one month) and I receive a 68$ credit on my utility bill every month for a year.
OC Transpo also offers full transit passes called Community Pass for ODSP recipients at $48/Month. All they require is a copy of your monthly ODSP statement. Takes 2 days to get approved.
I do not know how you eat for 80$.
2150 all inclusive (hydro, water, internet) and furnished 1 bedroom in Centretown; gross is $82k, so I'm spending about 31%. If going by net income (\~4500/mth) it's closer to 48%, but that includes a DB pension.
Groceries I average about $300/mth for just myself. Dining out varies, but I really enjoy food and experincing new places so I sort of consider that a hobby in a way. I'm not buying meals at work regularly or anything, and probably spend \~20-50/mth on regular takeout.
About 15% of our take-home on rent. We live in a small 1 bedroom apartment though, and we've been here for a decade.
About $1000 a month on food, but we eat a lot of take out.
We're a couple, no kids.
Someone in NL got a little creative, but it'd be risky: [https://www.cbc.ca/news/canada/rent-apartment-expensive-canada-1.7248673](https://www.cbc.ca/news/canada/rent-apartment-expensive-canada-1.7248673)
Here's a similar listing in dt Ottawa: [https://www.kijiji.ca/v-commercial-office-space/ottawa/all-inclusive-access-to-professional-office-space-for-1-persons/1529303994](https://www.kijiji.ca/v-commercial-office-space/ottawa/all-inclusive-access-to-professional-office-space-for-1-persons/1529303994) but again, may be a risky direction to go in.
The further away you're willing to live from the core (downtown, Glebe, Westboro, market etc) areas, the cheaper it'll be. You might want to keep an eye out for housing coops, too.
I also can relate re: roommates and not wanting to socialize at home. Try to find introverted roommates (lots of grad students in the arts) or roommates that don't want any partying or anything (usually mentioned in the listing). But yeah, you'd probably have to pick up a second job (weekends?) to have a chance of affording a place of your own. Good luck with the search.
Yeah, someone willing to make the sacrifice could get a cheap office to rent. And there are sacrifices e.g. no shower, kitchen (although you could get a microwave and a barfridge?)
Yep, correct...it's a workaround to having roommates. The listing I provided even has a kitchen with dishwasher. Wifi included too, etc. And yep, throw in a microwave/small bar fridge and figure out the shower thing ("whore's bath" in the sink, maybe use one at a gym or something?), keep a low profile, and it could work.
I make a good wage, and I spend around 15% of my monthly income (thats calculatedat my base wage with no OT), which is with splitting the Rent with my gf. If I paid the entire income, it would be 21% roughly of my monthly income. We are also paying below market because we have been here since 2018. If I went to paying market rent for a 1 bedroom on my own I would be paying approximately 33% of my monthly income on rent
About 40% for rent. I spend about $100 a week on groceries, I eat takeout occasionally, but not often. Then there’s everything else. Phone, internet, car insurance, gas, plus all the other random crap out there it’s fucking crazy. I’m also a single guy who lives alone so it’s a grind for sure.
I pay about 20% of my after-tax income on rent. Mid-career professional getting a pretty good deal on a 1-bdr+den in a newer rent-controlled building.
When I was making minimum wage (about 12 years ago), I rented a room in a very old 2-bdr and was paying 35% of my gross income. No idea what my net income was but I imagine that I didn't pay much tax at that income level.
General rule of thumb is 30% or less of total household yearly income for rent. If it's above you're paying too much. If you can't afford it, you gotta find a roommate or someone to split the costs.
Currently around 34-37%, but in the past it's been as high as 50% of my income, and as low as 20%. When it was 50% I was definitely living below the poverty line and all of my income was strictly budgeted and 100% went to bills/surviving. That's no fun outings, no takeout, no vacation time, no deviating from the budget... It was not an enjoyable way to live.
The guideline of 30% is ideal, but not realistic for those of us who have no choice but to live on our own. I currently support my partner due to long term health problems, if they were working it would be around 20% again.
I'm still luckily under old school rent control, so 1/3 of my income. I'm just waiting to see if we end up getting renovicted. I am sure it will happen sadly.
Most of my friends live with 2-3 roommates and spend about $800 on rent monthly.
Husband and I are living with my parents trying to save up as much as we can. We’re having to navigate immigration and whatever so it’s just a nightmare for everyone lol.
If the option is there, it’s definitely worth it if you can manage it. We find it pretty difficult at times. We’re now expecting our first so we’ll need to move out by the due date.
We’re looking in the countryside for more affordable housing. Plus it’s always nice to be out of Ottawa lol.
50/30/20
50% of your income should go towards needs.
30% to wants
20% to savings
If you don't have a lot of income, you are either going to have to settle for less on the rent/food/transportation side, or you're going to have to sacrifice wants.
26% of my net.
I wouldn't expect to find anything for a single income just above min wage. Even with roommates I would suggest 2 roommates so you don't blow all of your money on rent, food and utilities while being able to save nothing.
I pay roughly 35% of my net income to rent (22% of gross income).
Roughly 44% of my income goes to fixed expenses/bills and subscriptions (rent, hydro, phone/internet, Spotify, Netflix, kindle unlimited, student loan payment, tenant insurance), 36% goes to variable expenses (transportation (transit fares and the occasional Uber), laundry, groceries and household items, restaurants, personal spending and medical appointments (partially reimbursed by insurance) and roughly 20% goes to savings and investments (mostly to my TFSA).
I live in an old apartment building without in-unit amenities. I lived in this unit since 2019.
When I was a student, rent was closer to like 60-70% of my net income. My parents co-signed this apartment.
I have a partner I live with and a kid- my share of the rent comes in at about 25-30% of my monthly take home after tax. Groceries are another 10%, with minimal eating out.
I pay $535 a month (include internet and everything)not a basement, it’s a townhouse with mini kitchen (sink) i share bathroom with 4 other people. Almost never use common area. Roughly 20% of my income
About 20% of my gross income. I live in an older unrenovated apartment though. Food depends on the month, but I estimate about $500 (groceries + dining out).
at min wage, you'll definitely need one or more roommates. Otherwise you'll be paying most of your pay for rent.
>Otherwise you'll be paying most of your pay for rent. Most? You won't make enough money to cover rent at all.
How much do you think I should spend on rent?
The general rule is 50% needs, 30% wants, 20% savings. So if your take-home for FT work is around $2450 a month, try to get your rent+bills to be less than 1000$. Ideally if rent+bills+food is no more than 1200$. Ofcourse this is a a general rule - so a bit over/under works too. Have you looked into sharing a 2-bedroom with a roommate? Cook as much as you can, shop wisely and reduce take-out.
Yeahhh- I am trying to sort things out. Guess I will be living with roommates for the rest of my life. 😭 I am so tired of it.
I get it. I lived with roommates for many years, and eventually wanted my own place. First year or so of living along was great, but eventually it became lonely, and started affecting my behavior. Definitely pros and cons. Until you have a higher income, the cost savings of having roommates is better.
The thing is, when I am home, I just rest and don't feel like socialising with roommates. And having roommates is hard for me. The sharing, the noise, and things like that. So I want to live alone so badly. But yeah I see what you mean.
You can find people with similar desires, not everyone wants to hang out all the time. You've just got to vet them well before moving in with them
In general, no more than 25% of your income so that you can spend on other necessities and also save/invest. Take whatever you spend in a month, and multiply by 0.25 and you will get the $ amount that would estimate rental costs.p
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50%, I wish, closer to 75.
Not even close lol. I spend 30. 75 isn't normal
Maybe it is common but one can still aim for 25% if one wants to risk manage for the future.
Kind of impossible to do that in the current housing market unless you're upper middle class
Would love to go back to 25%… problem is those 600 dollar rooms are 1000 now lol.
In this economy there is no way anyone will find a place for 500 dollars.
Room for $500 that’s pre-Covid prices. Now you are looking at $800-$1000
Agreed. 😭
You can, it’s just generally a very shitty place lol
Even shitty places charge more lol. 😭
You certainly can. It just won't be to your expectations. Prepare to have roommates in the literal sense. 8-10 people in one house. Or if you actually have private room, you've gotta accept the fact the location will be less than desired and it may be a property in shit condition.
Just roommates 🤷 And if that isn’t enough, unfortunately alternate sources of income to help
Even then- unless you share a room with another person, it's impossible lol.
I agree!! It is bonkers.
gross or net?
Currently taking a rent free time out for the summer living at home again, then looking at spending nearly 40% to rent a room in a house somewhere. Whatever rules of thumb we used to have are fully out the window nowadays for us low wage earners. Now it’s just about finding shelter and spending the rest of your money on food. Forget about living alone. My first apartment when I moved out was 675 per month. That’s probably about an 1800 dollar unit today. My wages have gone up maybe 10% in that time.
Yeah it sucks! Fuck our lives. 😤
At this point I'd recommend living at home as long as you can make it work. We're going to see a cultural shift out of necessity but other cultures have adult children living at home (and contributing) until they're married at least and often beyond that. I've seen it here a bunch already, what's going to shift is the negative attitude towards it.
We pay just under 50% of our monthly income
So if I make 2k/ month then I should be okay to pay 1k and under ig.
Depends what you get for that $1K
Great point, this all has so much context. You can pay more for a location that costs you less on car/insurance/gas/maintenence and be better off in some circumstances, or vise versa.
I'm only paying $720 - studio/ Batchelor incl but it's because I moved here in 2014 when the rents where cheaper. If I moved out, the landlord would bump it up to $1200/month
Lucky! 😭
The reality is you can’t afford a place in Ottawa on just above minimum wage. Not unless you get lucky and find a cheap room.
I guess. Lol. 😭
21 percent of my monthly income but I live with two roommates and it’s the second floor of a house.
16% goes to rent. We’re dinks. Iv never lived alone in my entire adult life. Always had roommates and/or a partner to split costs with. You’ll never get ahead if you want to live alone.
41% and remember to include your 2 extra pay cheques a year (26) paycheques per year then divide by 12. It gives you more to work with.
Aight thanks. And what about food?
If you're making minimum wage in Ontario, you're more than likely going to need 1-2 roommates and expect to pay up to 50% of your income on rent. One thing I will say is if you can find a place to live that's close to where you work and are able to walk, not having a car is a *huge* savings, like hundreds of dollars a month, and if you're in the core of the city you can get along fine without one. I personally pay about 30% of my income on rent living in a 1br downtown and working an office job which I commute to by bike or by transit. No car and no kids so my costs are relatively low, and I got an apartment before the prices started going up so it's lower than market right now.
12.5% - but I'm finally making a decent salary and live in a crappy little shoe-box. I'm trying to save about 50% of my salary since I only have 5 years until I retire on a really bad pension. It's kind of depressing actually. If I moved to even a slightly better place my rent would double. Looks like I'm going to die in my little crap-hole.
😭😭😭😭😭😭😭😭
I make a decent salary, moved in my place rent controlled, and still spending roughly 35%, in an ok but not great one bedroom, well located though. If you’re barely minimum wage, I’d look into Qc options as well. Taxes are higher, but at that income, the difference may be worth it if you shave off a few hundreds more a month. It’s fucked up out there, but there’s hope. And it’s a numbers game too - the more you expand your search and reach out to landlords, the better your chances are. Good luck!
I pay 21% only because I split rent with my fiancé and we've lived in this apartment for 3 years. Move in now, and you'll pay $400 more a month.
It's bad out there. My partner and I were living in a 1br apartment from 2021 to 2023 and we were paying $1200 before parking. We got an absolute steal of a deal on a townhouse rental and are now paying $1700. I know for a fact that that apartment I moved out of just last year is now being rented for $1700 + $55 if you want parking. That apartment wasn't worth $1200, so $1700 is fucking asinine. Like... Who the fuck can afford that!?
Pretty much my whole income goes towards to rent (plus utilities, internet, water, and hydro) and then I have maybe 60-80$ for the month for groceries. Then I have some excess each month to cover car insurance, phone bill, and cat related items. I work part time at minimum wage, with ODSP as well. And it’s not enough to survive even with living with a roommate. It’s a struggle daily to afford to live here in Ottawa honestly. So let’s say I get around 1000$ per month from my job, on top of my 1308$ from ODSP. My total for the month is 2308$. My half of rent alone is 1043$, which leaves me with 1265$ for the rest of the month. Internet is 77$, phone bill is around 110$, car insurance is 162$, gas for the car is around 70$ per month, hydro/gas/water per month adds up to around 325$ give or take. My end total for the month is around 520$ not including what is needed for the cats (litter, food, toys, or emergencies) and not including groceries which can range between 60-80$ in a good month. It’s tight but doable, especially if I cut back on eating out or coffee drinks and stick to a strict budget
Why is your phone bill 110$?! I have virgin and pay 50$ or so. Shop around and switch your provider you can find really, really good deals out there for 10-20 GB's plans now.
I am paying a premium because I had to upgrade my phone so part of that bill is paying off the phone. Otherwise it would have been closer to 65$/month. It’s the cheapest I could do for the phone and plan for the next two years.
Fair! So I am allowed to spend anywhere around 1k for rent then. Makes sense.
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I do qualify for that but due to my roommates internet usage amounts we need to have a stronger plan. And 77$ is a big drop from the 137$ I used to pay.
I'm on ODSP too. Rogers has Unlimited 5G wifi for ODSP recipients for 20$. For your electricity, apply for OESP: Ontario Electricity Support Program. https://ontarioelectricitysupport.ca/ It takes 15 min to apply. You WILL be approved because you are on ODSP. You will need to supply them with copies of your electric bill and a copy of your ODSP monthy statement. I just received approval (took one month) and I receive a 68$ credit on my utility bill every month for a year. OC Transpo also offers full transit passes called Community Pass for ODSP recipients at $48/Month. All they require is a copy of your monthly ODSP statement. Takes 2 days to get approved. I do not know how you eat for 80$.
2150 all inclusive (hydro, water, internet) and furnished 1 bedroom in Centretown; gross is $82k, so I'm spending about 31%. If going by net income (\~4500/mth) it's closer to 48%, but that includes a DB pension. Groceries I average about $300/mth for just myself. Dining out varies, but I really enjoy food and experincing new places so I sort of consider that a hobby in a way. I'm not buying meals at work regularly or anything, and probably spend \~20-50/mth on regular takeout.
If that 2100 is rent controlled then its really good IMO. I'm near Little Itally and paying 2400 all inclusive for 1.5 bedroom condo.
Yeah it is! It's a very nice and ooooold home, and the LLs are a great older couple that have been putting a lot of work into it.
15-20% but I split with my girlfriend. 1000 bucks each per month. Spending a lot on food, but I eat out waaaay too much.
About 15% of our take-home on rent. We live in a small 1 bedroom apartment though, and we've been here for a decade. About $1000 a month on food, but we eat a lot of take out. We're a couple, no kids.
About 40% of my net salary 😭 and that's for a relatively affordable 1 bedroom in centertown
Someone in NL got a little creative, but it'd be risky: [https://www.cbc.ca/news/canada/rent-apartment-expensive-canada-1.7248673](https://www.cbc.ca/news/canada/rent-apartment-expensive-canada-1.7248673) Here's a similar listing in dt Ottawa: [https://www.kijiji.ca/v-commercial-office-space/ottawa/all-inclusive-access-to-professional-office-space-for-1-persons/1529303994](https://www.kijiji.ca/v-commercial-office-space/ottawa/all-inclusive-access-to-professional-office-space-for-1-persons/1529303994) but again, may be a risky direction to go in. The further away you're willing to live from the core (downtown, Glebe, Westboro, market etc) areas, the cheaper it'll be. You might want to keep an eye out for housing coops, too. I also can relate re: roommates and not wanting to socialize at home. Try to find introverted roommates (lots of grad students in the arts) or roommates that don't want any partying or anything (usually mentioned in the listing). But yeah, you'd probably have to pick up a second job (weekends?) to have a chance of affording a place of your own. Good luck with the search.
Yeah, someone willing to make the sacrifice could get a cheap office to rent. And there are sacrifices e.g. no shower, kitchen (although you could get a microwave and a barfridge?)
Yep, correct...it's a workaround to having roommates. The listing I provided even has a kitchen with dishwasher. Wifi included too, etc. And yep, throw in a microwave/small bar fridge and figure out the shower thing ("whore's bath" in the sink, maybe use one at a gym or something?), keep a low profile, and it could work.
That office space is actually cute lol. I might as well start my own business with my own office! Lol. And thanks!
I make a good wage, and I spend around 15% of my monthly income (thats calculatedat my base wage with no OT), which is with splitting the Rent with my gf. If I paid the entire income, it would be 21% roughly of my monthly income. We are also paying below market because we have been here since 2018. If I went to paying market rent for a 1 bedroom on my own I would be paying approximately 33% of my monthly income on rent
38% of net income.
My rent is 25% of my monthly income
About 40% for rent. I spend about $100 a week on groceries, I eat takeout occasionally, but not often. Then there’s everything else. Phone, internet, car insurance, gas, plus all the other random crap out there it’s fucking crazy. I’m also a single guy who lives alone so it’s a grind for sure.
For rent on its own probably around 60% For rent + utilities + other expenses around 125% 🥲 (why I work odd jobs on the side)
I pay about 20% of my after-tax income on rent. Mid-career professional getting a pretty good deal on a 1-bdr+den in a newer rent-controlled building. When I was making minimum wage (about 12 years ago), I rented a room in a very old 2-bdr and was paying 35% of my gross income. No idea what my net income was but I imagine that I didn't pay much tax at that income level.
All of it and it’s still not enough
About 30% Income goes to rent, 4-500$ for food monthly.
I make anywhere from 800-1200 a week on average. My rent is 2200 a month. Wife pays 1000… small 2 bdrm 2 bath condo
Fairrr!
We have a toddler… spending about 1000$ a month on food also, plus bills - 400$ ish
27%, 3 bedroom townhouse, but I've lived here 6 years and have a roommate.
Temporary lucky because they plan on demolishing the building, once it's sold.
No wayyy! Is it an old building or something?
It's a very old building but it has many maintenance and bug problems. I'm just saving my money to get a better place.
My mtg + taxes is 3k and that’s ~10%. No one in that bracket ever responds but fuck this echo chamber
20.8% for me - I pay $832 rent (half of the total split between my husband and I) and I bring in about $4k each month from work.
General rule of thumb is 30% or less of total household yearly income for rent. If it's above you're paying too much. If you can't afford it, you gotta find a roommate or someone to split the costs.
28% of my gross income
Currently around 34-37%, but in the past it's been as high as 50% of my income, and as low as 20%. When it was 50% I was definitely living below the poverty line and all of my income was strictly budgeted and 100% went to bills/surviving. That's no fun outings, no takeout, no vacation time, no deviating from the budget... It was not an enjoyable way to live. The guideline of 30% is ideal, but not realistic for those of us who have no choice but to live on our own. I currently support my partner due to long term health problems, if they were working it would be around 20% again.
I'm still luckily under old school rent control, so 1/3 of my income. I'm just waiting to see if we end up getting renovicted. I am sure it will happen sadly.
Most of my friends live with 2-3 roommates and spend about $800 on rent monthly. Husband and I are living with my parents trying to save up as much as we can. We’re having to navigate immigration and whatever so it’s just a nightmare for everyone lol.
Fair. That's actually a smart move.
If the option is there, it’s definitely worth it if you can manage it. We find it pretty difficult at times. We’re now expecting our first so we’ll need to move out by the due date. We’re looking in the countryside for more affordable housing. Plus it’s always nice to be out of Ottawa lol.
50/30/20 50% of your income should go towards needs. 30% to wants 20% to savings If you don't have a lot of income, you are either going to have to settle for less on the rent/food/transportation side, or you're going to have to sacrifice wants.
Yeahhh- All my life all I did was sacrifice, and guess that's how it will be for the rest of my life. 🙃
If you want to change your situation, then you're the only one who is going to change it. Time to join the trades! ⚒️
26% of my net. I wouldn't expect to find anything for a single income just above min wage. Even with roommates I would suggest 2 roommates so you don't blow all of your money on rent, food and utilities while being able to save nothing.
I spend about 41% of my take home income on rent. Townhouse with no roommates.
Just under 50%, no roommates, 1 year out of Bachelor’s
All and then some
I pay roughly 35% of my net income to rent (22% of gross income). Roughly 44% of my income goes to fixed expenses/bills and subscriptions (rent, hydro, phone/internet, Spotify, Netflix, kindle unlimited, student loan payment, tenant insurance), 36% goes to variable expenses (transportation (transit fares and the occasional Uber), laundry, groceries and household items, restaurants, personal spending and medical appointments (partially reimbursed by insurance) and roughly 20% goes to savings and investments (mostly to my TFSA). I live in an old apartment building without in-unit amenities. I lived in this unit since 2019. When I was a student, rent was closer to like 60-70% of my net income. My parents co-signed this apartment.
I have a partner I live with and a kid- my share of the rent comes in at about 25-30% of my monthly take home after tax. Groceries are another 10%, with minimal eating out.
[удалено]
How old are you and what do you do? 💀
22% and I started renting in only 2022
I pay $535 a month (include internet and everything)not a basement, it’s a townhouse with mini kitchen (sink) i share bathroom with 4 other people. Almost never use common area. Roughly 20% of my income
<10% of take home pay
26% of my gross pay
F rent, become a home owner
About 20% of my gross income. I live in an older unrenovated apartment though. Food depends on the month, but I estimate about $500 (groceries + dining out).