Aviator

Never said you cannot live on less than $150-200k. I lived on $38k and supported a family. It was a big step down from my previous job, but it was a really fun job. Just left us too short in the end to do stuff. Had to go back to the real world and the higher salary sure makes life easier. I had to work up to 1200 hours a year too!

R I C H

I think the figures are pretty meaningless until put in context with overheads like mortgage, loans, utility bills, travel/transport etc.

I've earned between 50K and $200k since living here and had mortgages of $600k and $0, with regular monthly overheads between $1,500 and $7,500, been an employee, self employed and a contractor. I've never been better off than currently, with no debt, and a salary at the lower end of that scale.

iaink

So what you are saying is you tried to live on 38k, but it wasnt really enough.

What is that now adjusted for inflation etc out of curiosity, was it long ago?

Aviator

I could live on it, pay the bills, just my capitalist greed got the better of me, I wanted stuff. It was a blast while it lasted, back in '96, flying the BC coastline and to remote communities and some way up north in the bush (tried to keep out of the bushes though). I've always enjoyed low level flying so this was great. Had to think about my retirment fund and this was not doing it.

Novocastrian

So... $38K in 1996 is equivalent to $49.6K in 2010.

http://www.bankofcanada.ca/en/rates/inflation_calc.html

Just so you know.

Alan2005

Only if you remove housing costs...

Novocastrian

True. That's based on the standard "price of a basket of goods" consumer price index.

Alan2005

Looking at it, the CPI does claim to include shelter with a 26% weighting. But it seems to track mortgage payments, rent, rather than absolute prices - this is interesting because many people don't have mortgages or have old mortgages. I'm going to look into this more as it doesn't feel right to me even though stats canada are a trustworthy source imo.

Novocastrian

Please do and report back; we're all on tenterhooks.

But the source was the Bank of Canada, not Stats Canada.

I doubt they're reliable.

SarahBC

Factor in the cost of ICBC for a couple of newcomers vehicles and that sends your budget skywards.

(ICBC didn't accept any of our proof of no-claims history in 2005, and we got stuck paying 100% ICBC rate).

Sarah

scrubbedexpat091

They did the same with me, I had proof from all my insurance companies in California and my driving record proved no accidents or tickets, but no go.

I will never drive in BC again as long as ICBC exists.

canadian_critic

I wouldn't recommend below $100k. Problem is that that's a pretty tall order in BC. One way of making a small fortune here is to start with a large one. On 100k you will be very lucky to see any surplus and that will get swamped by the excessive unexpected costs of living in Canada.

scrubbedexpat091

I so wanna know where all these 6 figure jobs are, why everyone seems to think you need a 6 figure income to live in BC......

I never did meet anyone in BC who made 6 figures yet all had money to do things and enjoy life and none were suffering.

Maybe I just live too frugal a life.. lol

getoutofbritainquick

- work for the government or a Crown corporation of course. Where else would you get that type of income in Canada!!!!!

printer

I agree. It does seem a ridiculously high figure to quote when most people seem to struggle to earn as much as they did in UK.

We run a business and don't earn anywhere near that between us but we manage very well. We are lucky as we don't have a mortgage but still have all the bills to pay. Mind you we don't live in Vancouver although Kelowna isn't a cheap place to live.