bobosanman

The way I am calculating things I should be able to do quite a bit better than just getting by. With 3350 after tax I just don't see how that will be so bad if my only requirements is are a cheap place downtown with a parking spot.
I don't have car or student loans, I don't want to live in fancy place and my company will be paying for my phone and for transportation to clients. Also to put things in perspective - this is my second year of employment out of school.

Even if I am paying 1500 for a room, 300 for car insurance, 200 for a parking spot, 800 for food and 500 for utilities, I am still braking even. And this seems a very very very generous allowance to me. Here in Philadelphia with the same salary I have been able to save close to 50% of my paycheck ( 1500 out of 3200 ) and I have been living a great life (still a bit student-ish but not tight by any means) with a car (paid), car insurance (1500 py), rent (800 pm), utilities (100 pm), cell phone (50 pm) and going out to eat and drink (reasonable places) whenever I feel like. Is Toronto really twice as expensive as Philadelphia??

iaink

Thats an oxymoron, if it has parking, then its expensive. People live downtown so they dont need to keep a car...thats sort of the whole point Couldnt say, but its expensive by Canadian standards.


Seems like you have done your budget, so good luck. Doesnt seem like this would be a long term thing for you? If it is then you have to start figuring out stuff like buying a place rather than renting, and saving for retirement and all that other boring middle aged shit...that shifts the goalposts.

gotoronto

I can't comment on Philly... . I doubt it is twice as expensive, though you'd probably be better of venturing a bit out of downtown. I simply cannot see you saving that kind of money here. I think you would just about break even on the lifestyle you described.

bobosanman

I'm thinking about it as a one-two year gig. Perhaps long term if I really enjoy living in Toronto. As of now I am not at all interested purchasing a house but I am concerned about saving - these days you never know what will happen a year from now.

I see the predicament about having a car downtown, I didn't think about it as here I just park on the street for free. My office will be located not far from Union Station downtown. Is the area to the east of downtown any good? Basically, in the vicinity of the downtown area is there any neighborhood I should look into (or avoid looking into)?

Thank you all for your help!

Bill_S

Rent a pickup on trash day. Drive through Rosedale, Forest Hill, Bayview Villiage, Yonge/Eglinton neighborhoods.

More seriously, I daresay you will find downtown Toronto significantly more expensive than downtown Philly. A cheap place with parking? Likely to be a dump, but you could get lucky. That salary is certainly enough to live on, but you won't have a lot left over.

dbd33

Immediately east no, Queen and Sherbourne may be the roughest corner in the city; lots of crack, lots of shelters. That said, my daughter works shifts there, coming and going at all hours, and isn't dead yet.

A bit beyond that, as far as the DVP, mixed, colourful but not rough (excepting the so up itself Gooderam and Worts warehouse). Beyond that, Leslieville, one of those areas that's never going to gentrify but more expensive than farther in. Beyond that the Beach, expensive - no parking at all.

Assuming your car's a beater I'd get a pass for the Monoxide Towers (2 Church Street) so as to leave it near work and get home by feet/ttc. Be warned though, I parked there for years and had a sign on the car "Doors Unlocked Please Don't Break Glass" and still had to buy a window a month.

I think this is an accurate guide to neighbourhoods in Toronto:

http://boldts.net/Toronto.shtml

Madhouse

I know that the discussion has moved on a bit, but I found a Canadian Tax calculator that might come in handy:

http://www.ey.com/GLOBAL/content.nsf...8_Personal_Tax

Novocastrian

If you'll be working near Union Station and want to live downtown, why on earth would you want to own a car?

You'll be much happier with the occasional rental or joining a share scheme like this one.... http://www.autoshare.com/

Easier on the planet as well.

Novo

bobosanman

Having a car is one of the job requirements. If I am lucky all my clients will be in the financial district so I won't have to use it much - so in a sense I am trying to minimize the use of the car by being downtown. From me research parking seems to be around 100 so that won't be a huge problem. From what I hear, however, insurance will really hurt bad.