Back to Home PageWelcome Guest! Register | Login | Home | Contact Us | Site Map | Advertise | FAQ | Search
Canadian Desi
    Charcha


        
  Canada Immigration Forum > About Canada > Life > Comfortable cost of living
Last Post | Newest Post
 
< [ 1 ] [ 2 ] [ 3 ] [ 4 ] [ 5 ] [ 6 ] [ 7 ] >

Comfortable cost of living




Hi,
I am trying to get a idea as to what car i can buy with my salary after deducting a comfortable cost of living. Can you give me your best estimates as to what is the cost of comfortable living for a single person in Mississauga. I know comfortable is a generic word so i will define what i mean by comfortable:

Live in a decent 1 bhk apartment/condo not a basement.
Have a cellphone (landline not necessary) but high speed internet (128k) is necessary
spends 25 dollars a month calling to India.
Fruits and other grocery cost per month for someone who eats a lot but can only prepare basic food and relies mostly on food that you get home put in microwave and eat (ready to eat types indian food)
Goes out to a bar once a weekend for 2-3 drinks and dinner so 4 times a month
As i cannot cook much maybe goes out to a decent restaurant for 4 meals in a week excluding weekend bar outing. That adds up to 16+4 meals outside
Newspaper, heating, electricity, cable etc.
DO NOT consider car cost or commuting cost.

Thanks
By how much will this increase if there are 2 people and i move to a 2 BHK (food, rent, more hotel bills etc). Just planning for the future.


Thanks,
Chittesh

-----------------------------------------------------------------
Live and Let Live

 
chittesh

Senior Desi
Member since: May 05
Posts: 448
Location: Here and There

Post ID: 58648 27-09-05 18:25:04
Report Abuse
VJ
Senior Desi
Member since: Mar 04




Posts: 441
Location: Mississauga-Canada

My input
Hi Chittesh,

Here is my exact monthly bill,

Rent - 1150
Grocery - 200
CAR EMI - 302
Car Insurance - 312
GAS - 200
Rogers - 100
Comwave - 25
Reliance - 35
Outing / eating out - 50
Personal care - 25
Go pass - 135
Misc - 50
Week end expense (drinks etc.) - 25


Total Monthly expense comes to - $ 2609.00

We are just two, I mean me and my wife.

I hope this helps,

Regards,

VJ


 
Post ID: 58651 27-09-05 18:55:42
Report Abuse
desi_driller
Senior Desi
Member since: Sep 04




Posts: 419
Location:


My Expense aprox. for fanily of four ( Husband wife & 2 kids)
1-House 1200
2-Rogers ( Internet+ 2 Cell phone ) 130
3-Bell- 50
4-Car EMI-270
5-Car + House Insuraence- 285
6-Gas-200
7-Grocery-500
8-Misc. expense-300
9-Expense for Children( Books , Games, clothes)-200
Total-3125

It does not include my contribution for RESP , LIC, etc.

-----------------------------------------------------------------
Driller the thriller

 
Post ID: 58652 27-09-05 19:16:23
Report Abuse
sudesingh
Senior Desi
Member since: Jul 04




Posts: 2062
Location: Toronto


Live in a decent 1 bhk apartment/condo not a basement. $1100
Have a cellphone (landline not necessary) but high speed internet (128k) is necessary $40(cell) + $35(highspeed) = $$75
spends 25 dollars a month calling to India. $25
Fruits and other grocery cost per month for someone who eats a lot but can only prepare basic food and relies mostly on food that you get home put in microwave and eat (ready to eat types indian food) $200
Goes out to a bar once a weekend for 2-3 drinks and dinner so 4 times a month $250 (4 times)
As i cannot cook much maybe goes out to a decent restaurant for 4 meals in a week excluding weekend bar outing. That adds up to 16+4 meals outside $200 (16 times)
Newspaper, heating, electricity, cable etc. $12 (newspaper)+ $35(cable) + $0(heating, electricity incl. in rent) = $47
DO NOT consider car cost or commuting cost.

Total = $1900

For 2 members
Rent : add $150
Food : add $200 (I'm assuming the 2nd members will also eat ready-made food)

Total = $2250


-----------------------------------------------------------------
SS
Reiki Grand Master

 
Post ID: 58656 27-09-05 20:55:13
Report Abuse
chittesh
Senior Desi
Member since: May 05




Posts: 448
Location: Here and There


Fantastic replies. Thanks.
Now can you help me on how is EI and CPP contribution calculated. Is it some % of your annual salary before tax or can i voluntarily choose a amount.

Thanks,
Chetan

-----------------------------------------------------------------
Live and Let Live

 
Post ID: 58657 27-09-05 21:59:52
Report Abuse
faisal
Senior Desi
Member since: May 04




Posts: 661
Location: in the heart of Mrs Saga


Quote:
Orginally posted by chittesh

Is it some % of your annual salary before tax or can i voluntarily choose a amount.




Yes it is a percentage of your earnings.

Please go thru these too.

http://www.canadiandesi.com/read.php?TID=1603

http://www.canadiandesi.com/read.php?TID=6733

http://www.canadiandesi.com/article.php?AID=56&SID=5

-----------------------------------------------------------------
Deal With Reality or Reality Will Deal With You

 
Post ID: 58669 28-09-05 06:47:41
Report Abuse
chittesh
Senior Desi
Member since: May 05




Posts: 448
Location: Here and There


OK Thanks, also in India we had deductions for House rent, medical expenses, children's education, home loan to name a few.

I am not married so for me what kind of tax deductions i can apply for. An i even eligible for any, i pay a very high rent for the apartment i live in? I havent spent anything in medicines.

Also if i am eligible for any of these how will the tax reduce. Will the total taxable income reduce or will the tax reduce by some amount.
Thanks,
Chittesh



-----------------------------------------------------------------
Live and Let Live

 
Post ID: 58695 28-09-05 12:34:08
Report Abuse
NorthAlberta
Senior Desi
Member since: Jul 04




Posts: 195
Location: Beef and Bacon Country

50,000 $ a year
I make 50,000 $ a year and spend almost all. I save about 10 % in RRSP etc.
-----------------------------------------------------------------
"Ever dance with the devil in the pale moon light?"
"I always ask that of all my prey."
"I just like the sound of it."

 
Last edited by: NorthAlberta on 28-09-05 13:39:49
Post ID: 58705 28-09-05 13:39:02
Report Abuse
NorthYorkDesi
Senior Desi
Member since: Mar 05




Posts: 151
Location:


No deductions are permitted for house rent UNLESS part of the property is used for business , you may get a provincial Property tax credit if your income is low.

Medical expenses are not deductible but there is a medical expense credit for expense over 3% of income. There is also a refundable medical expense supplement. Basic health insurance is free. Prescription drug coverage varies by province. You may have to pay a health insurance premium based on province / income.

Mortgage interest is NOT tax deductible.

If you are a salaried employee there are very few deductions that you can use to reduce your tax. If you are an independant business you can claim ANY expense incurred to make money. (like part of house rent , etc.)


 
Post ID: 58787 29-09-05 13:43:27
Report Abuse
Nightmare
Senior Desi
Member since: Apr 06




Posts: 1170
Location:

Cost of living
Hey Guys,

This guy seems to be pretty naive!

You incur expenses to match your earnings.

I think you should first inquire and worry about the kind of job you are likely to end up with.

You are also missing a point. You have to have a Canadian designation to get a decent job.

To get CPA and then CGA (both accounting designations) for my wife and I, it cost us close to $50,000.00 including loss of salary.




 
Post ID: 83525 14-08-06 00:06:13
Report Abuse
Contributors:
adamthorat(1)  bizojan(1)  Blue_Peafowl(5)  bombayduck62(1)  chittesh(9)  desi_driller(1)  faisal(1)  
Fido(3)  ftfl(1)  Full House(2)  imate1(1)  ixplore(2)  jake3d(1)  jughead(1)  
lemon925(1)  Loser(2)  Maharaj(5)  montrealEEE(9)  my2cents(1)  Nightmare(1)  NorthAlberta(1)  
NorthYorkDesi(1)  Optimistick(1)  sachinbapat(1)  shankaracharya(1)  subbu1962(2)  sudesingh(2)  tamilkuravan(6)  
tullyjs(1)  VJ(2)  
< [ 1 ] [ 2 ] [ 3 ] [ 4 ] [ 5 ] [ 6 ] [ 7 ] >
 
Show Printable version
Send this page to a friend
Add to favorites
 



 
Web
CanadianDesi
Please Contribute!
Write an Article
Send Community News
Create Photo and Video Albums
Submit Good Pictures
List Useful Websites
Post Jobs
Submit Events
List for FREE!
Businesses
Classifieds
Social Organizations
Religious Places
Employment Agencies
Email Page
Your Email
Friend\'s Email

Advertise Contact Us Privacy Policy and Terms of Usage FAQ
Canadian Desi
© 2001 Marg eSolutions


Site designed, developed and maintained by Marg eSolutions Inc.
//-->