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Website #1 Average Rent Prices in Canada

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Website #1 Average Rent Prices in Canada

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One of the most important moments of life on your own is the financial aspect and the possession of a housing place. This post clearly demonstrates the average cost of renting housing in various provinces in Canada. It also touches on the nuance of different types of housing, such as studio, 1 bedroom, 2 bedroom and 3 bedroom. This information shows that the cheapest rental prices are in Edmonton while in Vancouver you have to spend the highest amount of your budget.
We all understand that most of our income goes to paying rent bills or real estate mortgages. That is why I chose this post about average rental rates throughout Canada. The main difference from others that it has up-to-date information and variety of options.

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View average rent prices in Toronto, Toronto, Ottawa, Calgary, Montreal, Edmonton, Vancouver, London, and Kingston.

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Website #2 Why It’s Important to Pay Your Bills on Time

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Website #2 Why It’s Important to Pay Your Bills on Time

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For a quiet life without worries it is necessary to pay taxes, loans and fulfill various obligations. This article touches on two important aspects. First of all, the consequences of non-compliance with obligations can spoil your credit history, which affects almost the whole life ahead. As we all know, without a credit history in Canada you are nobody and nothing. The second point is keeping the time and always have a system to manage deadlines. When you live alone it is very important to do all this on time, which is described in this article showing the importance of the whole process.
This aspect of life in Canada is one of the leading, so you must follow all the rules and time frames. This post is a helpful guideline.

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Why It’s Important to Pay Your Bills on Time

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One year my former neighbour took his family to Mexico for March Break and asked me to take in his mail for the week. The following

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Website #3 Car vs Public Transportation - The Great Student Dilemma

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Website #3 Car vs Public Transportation - The Great Student Dilemma

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In addition to rent expenses transport costs must also be considered. In any case, whether you have your own car or not you will have to spend finances on transportation. It is obvious that you have to go to the store, take the subway to work or drive to the place of study when you live on your own. This post clearly tells about any of the options for using transport, what costs it has and how your personal vehicle can depreciate.
It is worth noting that the article stands out from any others by the important information about what hidden and obvious costs are in choosing any of the transports.

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I have to admit to not being the most frugal student during my time in school. My first year of university I decided to leave the car at home and do the public transit thing due to cost and my lack of knowledge about urban driving. I survived, but vowed to get a vehicle for my second year. I am an impatient person by nature and so the time constraints involved with public transportation were extremely frustrating to me. That being said, I definitely paid a heavy financial premium for the choice to own and operate a car. When comparing the cost of having a car versus that of public transportation, we often forget to factor in a lot of vehicle costs that we just pay and forget about. If I would have known all the costs I still would have chosen to own the car, but everyone should definitely know all of the facts before they make their own decision.

Car vs Public Transportation - The Big Debate

Figuring out the cost involved with public transportation for students is pretty straight forward since most cities have a special pass for post-secondary students. In Winnipeg it is currently about $60 per month. This obviously comes to $720 per year, but that is not the true cost. The government wishes to encourage public transportation for a variety of reasons so they give a tax break for this bus pass in the form on a non-refundable tax credit. This lowers the price even more, but it is tough to give an exact number due to individual tax situations. Other than your time there are very few hidden costs involved with public transportation that I know of.

The same cannot be said for owning a vehicle. The first thing a student decides on when they buy a vehicle is what kind they want, and to be new or used. The vast majority of students I know only want the basic transportation of a used car, however some do get sucked into buying new. If you choose to buy new and finance the vehicle you have to include the considerable interest charges you will pay through financing. The special finance offers you see in advertisements are for people with great credit scores, not students. You will be paying a premium for the loan. I could go into more details, but for now my strong advice would be not to go into financing a car if you're a student.

The initial price of the car is the obvious part of what it will cost to own it. Some people believe that they don't 'lose' that money since they now own a car that it is worth that much, but a car is not like a house or land purchase, it depreciates quickly. Various estimates put the average depreciation value of a car at 10-20% per year depending on the make and model. For those you like myself who aren't math whizzes, think about the difference of 20% of a new car price, and 20% of a 3 year-old used car. The money you are losing is considerable. For example, say you buy a used car that is a few years old for $10,000. The next year you would likely sell it for 8,500 or so. Year 3 of ownership 7225, year 4 about 6150, and by year 5 you might be able to sell that car for about $5000 or so. That depreciation is part of the true cost of owning the vehicle.

The yearly costs of owning a car are often underestimated by people. First and foremost is the insurance. Young drivers, especially males, have the worst driving records of anyone on the road and so they pay the highest insurance rates. You can cut back on this by having your parents register as the legal owners of the vehicle and insuring the vehicle in their name, but if you get in an accident the rates go up. Manitoba has some of the lower insurance rates around and I paid about $120 a month to register my basic 4 door sedan.

The next big hit is yearly repairs and maintenance. The simple rule of thumb is the more maintenance you do the fewer repairs you have to take care of, so I recommend taking an hour to read the owner's manual and know when your car should have proper fluid changes etc. I usually do three oil changes in a year which costs roughly $150 if you don't do it yourself. No matter how much maintenance you do some repairs are always necessary including the basic changing of tires, brake pads, alternators, batteries etc. The cost of repairs can vary widely depending on the make and model of your car, but a hopeful estimate would put most used vehicles at $1000 per year.

Electric cars might be the way of the future but they're not here yet. This means gasoline prices must factor into your analysis. The simple supply and demand rules dictate that with more and more people in developing countries buying cars, and only a certain amount of crude oil coming out of the ground, something has to give. The price at the pumps will continue to rise for the foreseeable future. If you fill your tank up twice a month you are staring at a minimum of $100. A much more likely monthly figure is $150, and many students easily pay $200 or more per month on gas.

Finally, we get to every student's favourite issue of parking. Parking rates are obviously different across Canada, at the University of Manitoba it cost $500 per 8-month year for a residence parking spot as of 2009. Most apartments would be somewhat less than this, but still close. Then you have to factor in the times you will park off campus. In Winnipeg you can get away with usually finding relatively cheap parking, but for many people this is not an option. You could probably throw in at least another $200 per year in most cities for random parking costs.

A cost I won't bother to factor in, but one that affects many students is parking and speeding tickets. You all know the drill, a group meeting runs late, you don't get to the meter, you miss your alarm for your final exam and are trying to make up time etc. These tickets can range from a minor annoyance, to a week's worth of part-time wages.

By my count, once you add up all of these costs you are looking at a true vehicle cost of about $5000 per year in addition to the depreciation of the car. This value is Manitoba-based. If your province charges higher insurance rates, or you live in a large urban city like Vancouver or Toronto and have to deal with higher parking charges you could be looking at a significantly higher number. For those of you keeping score at home this means that the financial sacrifice for the convenience of having a car while you go to school is pretty much a minimum of $4500 per year and could reach a lot higher than that, plus the up front original price and any tickets you get. Again, with my time-obsessed personality having a private mode of transportation was worth it, but for many people the numbers simply don't add up.

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Car vs Public Transportation - The Great Student Dilemma

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I have to admit to not being the most frugal student during my time in school. My first year of university I decided to leave the car at home and do the public transit thing due to cost and my lack of knowledge about urban driving.

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Website #4 Seven Financial Rules for Living on Your Own for the First Time

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Website #4 Seven Financial Rules for Living on Your Own for the First Time

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To summarize the basic facts of life to one, this post gives 7 main points such as:
- budget before you move out
- you don't need every gadget and appliance
- weight quality vs cost for major purchases
- borrowing network
- invest in maintenance, save on repairs
- a system for paying bills
- prepare and preserve food in bulk
They give the right advice when you move into a new home all by yourself.
I have been looking for a long time for suitable sites that have the most important information gathered together and this one was the best. It collected information on creating a budget, food storage, the right choice of maintenance and necessities. It makes this website different from others.

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There are a lot of transitions you make as you grow up and take on more personal responsibility. It starts the first time you pick out your own clothes and only gets more complicated from there.

One of the most difficult transitions you can make is when you move into a new home all by yourself. No family. No roommates. Just you.

Living alone can be difficult for a lot of reasons, but managing personal and household finances by yourself is often the biggest stumbling block for first-time independents. Chances are good that you've got a limited amount of income, but an almost unlimited amount of potential expenses. These seven rules should help you avoid any major financial catastrophes while you figure out how to navigate life on your own.

1. Budget before you move out

Before you've moved into your new apartment or house, make a budget reflecting your current income and your anticipated expenses. Some expenses you'll already know (phone bill, car payments, insurance), and some you'll have to estimate (electric, heating, etc.).

Use this initial budget to help plan your spending after you've moved in. After you've lived in the new place for a little while, take a look at your actual bills and recalculate your budget accordingly. Just keep in mind that your utility costs are somewhat seasonal (i.e. if you're running the AC all summer, your electric bill will be higher).

2. You don't need every gadget and appliance

A mistake a lot of young people make when they first move out on their own is to attempt to reconstruct every part of how they used to live. For example, your parents probably have about 60 pieces of assorted cookware, from zesters to electric grills to multiple skillets of varying sizes.

Avoid the urge to immediately reconstruct your previous living conditions by buying everything you think you need. Your parents accumulated those stacks of pots and pans over the years. The same is true for all the other gadgets and appliances you've gotten so used to. They're nice, but they're not essential.

Pare down your lifestyle and make sure you've got the basics - these are the things you need to keep yourself healthy, sheltered, and happy.

3. Weigh quality vs. cost when making major purchases

You don't need everything when you're first starting out, but you do need some things. Here's where you need to be strategic about cost.

You could save money and fill your new home with secondhand everything. That may be good in the short-term, but could potentially lead to problems down the line, specifically if your cheap starter purchases need to be replaced not that far into the future.

Think of your purchases as investments. How will they pay out down the road? An overly cheap bed might fit your budget now, but if you're buying a new bed six months later because you haven't had a good night's sleep even once, then the cheap bed seems like a bad investment. Spending $0.50 on a ladle from Goodwill, however, is probably going to work out just fine for you.

4. Create a borrowing network

You can't go out and buy every piece of equipment you might ever need. Instead, a better idea is to know who has the things you might occasionally need and borrow it from them.

In a best case scenario, this could be part of a larger borrowing network, where you would also share unique items with friends and neighbors. This way everyone saves some money.

When borrowing something from a friend or neighbor, be sure to explain how you'll be using the item and how long you plan to have it. Then follow through and return the item when you said you would, in the same shape as when you borrowed it.

5. Invest in maintenance, save on repairs

The more you can do to keep your stuff (and yourself) in good working order, the less you'll have to spend getting things fixed when they break down.

Maintenance doesn't have to be anything complex. Put screens over your drains to prevent potential blockages. Keep things clean, tidy, and organized to help prevent unseen water buildup or mold damage from occurring. Use your appliances only as directed.

6. Create a system for paying bills and stick with it

Living on your own usually means you'll have a whole new set of bills to manage on top of whatever bills you already had. If you don't have a system in place, it's easy to lose sight of your bills from time to time and fail to make a required payment.

It's an easy mistake to make, and unfortunately it's a costly one, too. Just one missed payment can set your credit score back significantly.

Find a bill-paying method that works for your habits and personality. Set reminders, automate your payments, or just pledge to make a payment as soon as you receive any bill. Just pick the style that works for you and stick with it.

7. Learn how to prepare and preserve food in bulk

One of the hardest budget items to keep under control when you're living alone is your food budget. Buying the correct amount of groceries for meals that only serve one is challenging and it's easy to get fed up with the whole process and just go straight to the take out.

A better, more financially sound option, is not to cook for one, but to cook large quantities of food and freeze the leftovers in individually wrapped portions. Generally the price per portion goes down the more you make, so you save money by making six meals versus making just one. Plus, Future You saves a lot of time in food prep.

And if your new budget just won't balance, you may need expert support. So remember that budget counseling from MMI is free and available 24/7!

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Seven Financial Rules for Living on Your Own for the First Time

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Living alone for the first time can be difficult for a lot of reasons, but managing personal and household finances by yourself is often the biggest stumbling block for first-time independents. Here are the most important financial rules to follow when you're on your own.

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Welcome to a small world that will reveal important information about independent living and its financial aspects. Many of us dream of leaving our parents and becoming full-fledged independent people, but such situation involves huge expenses and maintenance of ourselves. Here you can find important information regarding the most valuable expenses in living on your own.

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The choice of photo fell on a coin with Canadian symbols because I know that the government helps its citizens in financial situations. There are a lot of financial programs that you should not forget about, and even more when you live on your own. Be sure to remember the fact that it is necessary to fill in taxes annually because they must be paid and in some cases the government pays you for them.

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I would like to summarize all this information by saying that you should not forget the positive aspects of life alone because you can manage your finances wisely, save them and go on a trip across fascinating Canada and see all its beautiful sides with your own eyes.

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Video #1 How to Live Life on Your Own Terms

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Video #1 How to Live Life on Your Own Terms

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A very well-illustrated video clearly tells about the nuances of life on its own and how to properly set yourself up for the correct perception of this moment because in most cases it is a life challenge. It tells about the 7 most important steps in life yourself and how to overcome all stages, including financial ones. The video talks about small tricks and the possibility of overcoming and improving the situation by always choosing your own way.
I chose the video because of the visual illustrations and the main message that it contains. Namely, the fact that when you live on your own and you become responsible for your actions, it is very important to remain yourself.

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Video #2 How Much it Realistically Costs to Live on Your Own - Minimalist Living

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Video #2 How Much it Realistically Costs to Live on Your Own - Minimalist Living

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This video clearly shows what type of housing can be rented for what cost and how much you will spend on maintenance, utilities, and electricity. You can also find out a lot of information about spending on other necessities that appear when you start living on your own. Especially when we consider a place for living or the average budget needed to be able to cover the rent fees.
I think the main reason for choosing this video was the fact that this guy is a student and he is my age which gives a clear idea of ​​how the financial aspect of living on my own can affect my situation.

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How Much it Realistically Costs to Live on Your Own - Minimalist Living

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Video #3 TOP 10 PROS AND CONS OF LIVING IN TORONTO ONTARIO 2022

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Video #3 TOP 10 PROS AND CONS OF LIVING IN TORONTO ONTARIO 2022

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The pros and cons are an important nuance when choosing a place and living on your own. This video contains information about all possible aspects, cost of living and other expenses. Since we all live in a place not far from Toronto, I decided to consider this area directly. The video shows how high the prices are in GTA and how much you have to spend to live here. Besides this information you can also find something new and interesting about living in Toronto which can change your mind.
This video is different from others in that it shows two sides of the same coin and how they can affect life in GTA especially financially.

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TOP 10 PROS AND CONS OF LIVING IN TORONTO ONTARIO 2022

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1. I was most surprised by the prices of real estate in different areas of Canada and now I am thinking about moving after graduation. Also worth noting is the fact that I am in the process of applying for a driver's license so I was extremely interested in the aspect of buying a car and what hidden prices they might have.

2. I can easily say that this topic is relevant to me in all these aspects because I have already been living on my own for two years and all my relatives are far away in another country. Therefore, I can state with confidence that I already have some of these experiences and know many nuances of such a life.

3. I am sure that many understand how expensive food, water, housing and transport are now. This is what happens all over the world. Therefore, I would rather share knowledge about the need to pay loans and fill out taxes, and how this aspect can affect your life in the future. Also, an important experience is the correct understanding of all hidden and possible financial aspects when you live on your own.

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Video #4 How to live on $100 a MONTH for groceries in Canada. The Cheapest Grocery Stores in Canada

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Video #4 How to live on $100 a MONTH for groceries in Canada. The Cheapest Grocery Stores in Canada

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We must not forget the fact that we all love to eat and this is a vital necessity. This young student in the video shares his food spending and how he can save money during these challenging times. The two best-priced stores, namely Costco and Nofrills are introduced as the most affordable places along with the average prices for the most popular groceries.
I want to note that this video tells about the most profitable places where you can buy products cheaper, as well as the prices for each purchase and the average budget. This is what makes this video valuable with the most up-to-date information for 2022.

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How to live on $100 a MONTH for groceries in Canada. The Cheapest Grocery Stores in Canada