It is very clear that Canada is the target choice for immigrants. It has a revolutionary government that maintains the essence of democracy, the perfect geography for climbers, sailors and skiers alike. If you’re among hundreds of thousands of immigrants in love with Canada’s rich socio-cultural history, it’s really important to know how close or unique your finances may look, so we want to educate you about the cost of living in Canada.
There are large differences in the value of living in rural areas and key cities. This article will guide you through about what you need to know, approximately the price of residing in Canada so that you are prepared to settle down in the country you love.
So, What Is The Cost Of Living In Canada?
Exchange charges are one of the first matters to take into account while it includes your budget. What is the well worth of your home foreign money when compared to Canadian dollars and how far it will get you are also to be put into consideration.
Most alternate fee services mark up the alternate fee to increase their earnings. This technique is high priced; it may trick you into believing you are obtaining an honest deal. Always use the currency converter to check for the contemporary, marketplace exchange fee whilst you are converting your money.
It is far not unusual to indicate cash with the dollar signal $ in Canada, now and again written as C$ or CAN$ or CAD to differentiate it from alternative dollar-based foreign money.
The below list indicates the values of Canadian bucks compared to a few major currencies as at the time of writing.
Monthly Living Expenses in:
- Large Apartment: C$1700
- Small Apartment: C$1100
- Student Dorm: C$600
- Internet: C$41
- Large Apartment: C$1100
- Small Apartment: C$640
- Student Dorm: C$550
- Internet: C$38
With the cost of living in mind, the other major financial concern is the home paycheck at the end of the month. Employers can also keep in mind the payment of the residence bill, based on where you want to settle.
Luckily, the common wage in Canada has increased by 10-15% since 2007. This is pretty high. While wages vary between provinces and cities, since 2010, the typical wage for full-time work or 30 hours per work has been C$44,366.
Average Salary for Toronto
Financial Analyst: 52,067
Graphic designer: C$37,966
Product Manager: C$69,402
Web Developer: C$43,663
Average Salary for Montreal
Financial Analyst: C$42,722
Graphic Designer: C$33,831
Product Manager: C$59,398
Web Developer: C$42,015
Healthcare in Canada
Having a loose healthcare system in Canada is one of the country’s fundamental attractions. This means you don’t pay a direct rate for any medical visits. The free aid system is funded by the country’s distinctive legal system.
The common man or woman will pay approximately C$4,222 yearly, this may seem excessive for foreigners, but it is an honest deal, considering the comparatively distinctive health care system.
Transportation Prices for Canada
Monthly Bus/Transportation Pass: C$95
Bus Ticket Single Use: C$3.15
Taxi 1KM: C1.85
Taxi 1hr: C$33.00
Food Budget in Canada
Your likely budget food funds for eating all your meals in restaurants that are inclusive of tips and taxes are:
Canada is referred to as a top-notch area to settle, you will be surprised to find the country to be very cheap considering the very prime quality of life, more low priced than maximum cities in Europe.
Wherever you may choose to settle in Canada, I’m sure this guide has given you an idea about the cost of living in Canad. Best luck with your choice!