Monthly Expenses Calculator
As newcomers, your financial success and security begins with proper planning and taking charge of your expenses. Arrive’s monthly expenses calculator is simple and easy to use. It helps you estimate and plan for your monthly living expenses in Canada.
Take 5 minutes to get your results.
Factors such as the city you choose to live in, housing type, transportation methods, insurance costs, as well as food and entertainment, can all influence your overall budget. Most newcomers rely on their savings during their initial months in Canada making it crucial to manage finances wisely by creating and sticking to a budget.
The tool takes into account your responses for a few basic questions such as:
- Housing: The type of accommodation you’re looking for
- Destination: The city you plan on living in
- Getting around: The primary method of transportation you’ll be using
- Family: Whether you have children under the age of 6
Additionally, you will have the option to add in estimates for food, entertainment, and other expenses.
Once you complete all the fields and submit the information, you will receive a rough estimate of how much you should expect to spend each month in a given city in Canada.
Tip: Try changing your city, accommodation, or transportation preferences and explore a bit until you find the sweet spot with your budget!
Note that the tool is designed to calculate the expenses for one person. If you have additional family members, consider including some additional amount for transportation, food, entertainment, and other expenses for a more realistic budget.
Planning your finances ahead of time and being prepared will help you establish a strong foundation and set you up for financial success in Canada.