There are so many reports stating how Vancouver is one of the most expensive cities to live in Canada and there are other various articles breaking down statistically how much it costs to live in Vancouver. This blog post is breaking down my own personal cost of living in Vancouver as a millennial who works full-time while living in Downtown.
- Rent – $1,195 for a studio apartment in Downtown Vancouver (this is 29% of my full-time income after taxes, you should pay 30% of your household income before tax)
- Groceries – $180
- Dining out – $752 (includes 10 orders of Uber Eats at $129)
- Coffee – $120 (note: I do a lot of freelance work in coffee shops)
- Home – $547 (includes Apple subscriptions, NYT Digital subscriptions, pet supplies)
- Gym – $60 (note: Anytime Fitness membership, it’s a 24/7 gym with over 4,000 locations around the world)
- Debt Payments – $4,481 (!!!!)
This month is really dedicated to paying off credit card debt, I anticipate to pay off all my credit cards before mid-September. Credit cards and credit score is a huge part of purchasing a home and obtaining a good interest rate, so this is the focus of my expenses for the next few months. With that being said, it is currently not following my previous post about how much to save each month.
I will be projecting my cost of living report for August and September will be very different from this report.
This is full break-down of my July expenses and income.
|Hard costs – must pay|
|Student Loan Payments||$250.00|