another cost of living question!
I know you've all been asked before about cost of living, but I wondered whether anyone can answer quite a specific question.
so here's the deal. I have a firm job offer as a nurse in North Vancouver starting early summer next year ( our choice to delay it until then). We have two kids, so for the first few months at least hubby will have to take care of them, and we will be living solely on mywage. We can probably afford to buy a house mortgage free in a cheaper area like coquitlam or port moody, but in your humble opinions, would my wage of around 65,500 canadian dollars, that's roughly 5,500 per month, be enough to cover the cost of living? we've read all about the high taxes, insurances etc, we'll have to get at least one car, plus all the usual bills for amenities, food etc. Would be really interested to here what salaries people live on, and does that leave any spare, or will we be scrimping to live? :) Look forward to hearing about the cost if living in Vancouver, if you have any tips or stories to tell! thanks, Jo X |
Re: another cost of living question!
Originally Posted by nursemakeyouwell
(Post 5079722)
I know you've all been asked before about cost of living, but I wondered whether anyone can answer quite a specific question.
so here's the deal. I have a firm job offer as a nurse in North Vancouver starting early summer next year ( our choice to delay it until then). We have two kids, so for the first few months at least hubby will have to take care of them, and we will be living solely on mywage. We can probably afford to buy a house mortgage free in a cheaper area like coquitlam or port moody, but in your humble opinions, would my wage of around 65,500 canadian dollars, that's roughly 5,500 per month, be enough to cover the cost of living? we've read all about the high taxes, insurances etc, we'll have to get at least one car, plus all the usual bills for amenities, food etc. Would be really interested to here what salaries people live on, and does that leave any spare, or will we be scrimping to live? :) Look forward to hearing about the cost if living in Vancouver, if you have any tips or stories to tell! thanks, Jo X |
Re: another cost of living question!
Originally Posted by nursemakeyouwell
(Post 5079722)
I know you've all been asked before about cost of living, but I wondered whether anyone can answer quite a specific question.
so here's the deal. I have a firm job offer as a nurse in North Vancouver starting early summer next year ( our choice to delay it until then). We have two kids, so for the first few months at least hubby will have to take care of them, and we will be living solely on mywage. We can probably afford to buy a house mortgage free in a cheaper area like coquitlam or port moody, but in your humble opinions, would my wage of around 65,500 canadian dollars, that's roughly 5,500 per month, be enough to cover the cost of living? we've read all about the high taxes, insurances etc, we'll have to get at least one car, plus all the usual bills for amenities, food etc. Would be really interested to here what salaries people live on, and does that leave any spare, or will we be scrimping to live? :) Look forward to hearing about the cost if living in Vancouver, if you have any tips or stories to tell! thanks, Jo X i reckon we spend $3000 easily a month (mortgage aside) family of four and i don't think we go daft house & 2 car insurance=$420 alone so that's us in Calgary where no PST i personally find we spend a lot on groceries compared to UK |
Re: another cost of living question!
Hi...we don't live in that area (we're in Ontario) so this is probably totally irrelevant BUT we have 2 kids, 1 wage, and rent of $735 a month, plus all the usual bills and expenses. My wage is WAY lower than what you are talking about- $2400 a month after taxes, plus child tax benefit, and we live fine. We are not rich, but we have more money for "fun" than we did in England and life seems better, and I earned quite a bit more in England and hubby worked in UK too. If I earned the money you talk of I would feel like royalty!! I guess it is all a matter of perspective.
Kellie |
Re: another cost of living question!
Originally Posted by nursemakeyouwell
(Post 5079722)
I know you've all been asked before about cost of living, but I wondered whether anyone can answer quite a specific question.
so here's the deal. I have a firm job offer as a nurse in North Vancouver starting early summer next year ( our choice to delay it until then). We have two kids, so for the first few months at least hubby will have to take care of them, and we will be living solely on mywage. We can probably afford to buy a house mortgage free in a cheaper area like coquitlam or port moody, but in your humble opinions, would my wage of around 65,500 canadian dollars, that's roughly 5,500 per month, be enough to cover the cost of living? we've read all about the high taxes, insurances etc, we'll have to get at least one car, plus all the usual bills for amenities, food etc. Would be really interested to here what salaries people live on, and does that leave any spare, or will we be scrimping to live? :) Look forward to hearing about the cost if living in Vancouver, if you have any tips or stories to tell! thanks, Jo X Utilities are far cheaper than UK a few comparisions that we have found. Property Tax (same value house in BC/UK) UK $336 mth BC $190 Electricity Canada $90 equivalent UK cost for same units $400 Natural Gas UK - $126 BC $84 per mth Water (metered) UK $94 BC $30 Garbage about $120/year Petrol $1.09/litre UK $2.1/litre Vehicle Road Tax UK approx $346 BC not much Food (generalisation) about the same Income tax/Pension about the same as UK rates Eating out is generally much cheaper than UK but again subjective. Hope this helps. |
Re: another cost of living question!
With $5,500.00 gross, after deductions (tax,union dues,cpp,EI,suprannuation)will be around $4,500.00. With no mortgage,you all will do fine on 1 wage income.
Yoong |
Re: another cost of living question!
Originally Posted by Yoong
(Post 5079949)
With $5,500.00 gross, after deductions (tax,union dues,cpp,EI,suprannuation)will be around $4,500.00. With no mortgage,you all will do fine on 1 wage income.
Yoong A more realistic way to look at is that you are on average going to lose 30% in deductions so the take home is more likely to be about $3,850. Mortgage free a person should still be OK on that salary but they're not going to have lots left at the end of the month. Cheers Steve |
Re: another cost of living question!
From Coquitlam that will be a killer commute.
|
Re: another cost of living question!
Originally Posted by Steve_P
(Post 5080654)
Not sure how you're coming up with $4,500 take home? :confused:
A more realistic way to look at is that you are on average going to lose 30% in deductions so the take home is more likely to be about $3,850. Mortgage free a person should still be OK on that salary but they're not going to have lots left at the end of the month. Cheers Steve on my bi weekly pay stubs and they are :eek: I already stopped looking at them for years. Yoong |
Re: another cost of living question!
Originally Posted by cancov
(Post 5079879)
Hi...we don't live in that area (we're in Ontario) so this is probably totally irrelevant BUT we have 2 kids, 1 wage, and rent of $735 a month, plus all the usual bills and expenses. My wage is WAY lower than what you are talking about- $2400 a month after taxes, plus child tax benefit, and we live fine. We are not rich, but we have more money for "fun" than we did in England and life seems better, and I earned quite a bit more in England and hubby worked in UK too. If I earned the money you talk of I would feel like royalty!! I guess it is all a matter of perspective.
Kellie |
Re: another cost of living question!
Originally Posted by rwin
(Post 5080782)
From Coquitlam that will be a killer commute.
|
Re: another cost of living question!
Originally Posted by getoutofbritainquick
(Post 5079946)
Hi Jo, we live in the Vancouver burbs and contrary to many posts do find the general cost of living much cheaper in BC. Take out house prices which are rapidly appoaching UK levels and car insurance which is high. If you come over on UK salary and no mortgage then you are generally smiling all the way to the bank - but many people don't. With 2 incomes you can be very well off. My wife does not work and looks after our 2 young children and we manage fine but always have that option of her going out to work if so needed.
Utilities are far cheaper than UK a few comparisions that we have found. Property Tax (same value house in BC/UK) UK $336 mth BC $190 Electricity Canada $90 equivalent UK cost for same units $400 Natural Gas UK - $126 BC $84 per mth Water (metered) UK $94 BC $30 Garbage about $120/year Petrol $1.09/litre UK $2.1/litre Vehicle Road Tax UK approx $346 BC not much Food (generalisation) about the same Income tax/Pension about the same as UK rates Eating out is generally much cheaper than UK but again subjective. Hope this helps. |
Re: another cost of living question!
Originally Posted by Steve_P
(Post 5080654)
Not sure how you're coming up with $4,500 take home? :confused:
A more realistic way to look at is that you are on average going to lose 30% in deductions so the take home is more likely to be about $3,850. Mortgage free a person should still be OK on that salary but they're not going to have lots left at the end of the month. Cheers Steve |
Re: another cost of living question!
You will be fine, expect lots of overtime, you can make $100,000 if you are willing to put in the hours.
|
Re: another cost of living question!
Originally Posted by Yoong
(Post 5079949)
With $5,500.00 gross, after deductions (tax,union dues,cpp,EI,suprannuation)will be around $4,500.00. With no mortgage,you all will do fine on 1 wage income.
Yoong |
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