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Cost of Living in Canada

Now that you have decided to pursue your studies abroad, you have to think about the cost of living in Canada. It is important for you to be financially ready before you live out your entire university life in a totally different country. This means you have to figure out how much it will cost you beforehand. It is better to prepare your budget in advance so that you won’t be facing any kind of difficulty along the way. Are you ready? Here are some of the basic living necessities you need to account for.

The first one is accommodation. You need to include the place you will be staying at on your Canada cost of living calculations. Here are some accommoda/tion options you may consider:

Homestays per month $400 to $8000 CDN
Residence/Dormitories annually $3,000 to 7,500 CDN
Rent (Shared Accommodation)month $250 to 700 CDN per
Rent (Suite/Apartment)per month $100 to 1,500 CDN

Now that you have a place to stay, you have to list down all other things you’ll need. Calculate the other cost of living in Canada expenses and be as honest as possible. Think about the basic necessities you use in your daily routine. Here is a sample breakdown and average costs of everyday items in Canada:

Food/Groceries annually $2,700 CDN
Clothing annually $600 CDN
Transportation (Buss pass for 12 months) $750 CDN annually
Entertainment/Hobbies $750 CDN annually
Miscellaneous $750 CDN annually

These expenses are only estimates and are subjected to changes. It is also important to note that the Canada cost of living calculation will greatly depend on your lifestyle. It can change according to the way you live and how you spend your money.

If you have any more questions regarding the cost of living in Canada, we will gladly answer all of them.

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