Ways To Slash Your Cost Of Living In Toronto

For many people, Canada is a new promised land. People go there in search of work, a better life, and good fun. The advantage of Canada is that it is a multicultural country in which immigrants are welcome –  despite somewhat stricter measures of entry. The way of life and the choice of the city in which you will live depends on you. Still, most newcomers choose large cities that provide plenty of opportunities. They most often opt for Toronto, Ontario. However, life in big cities is always more expensive. So we will give you some suggestions on how to slash your cost of living in Toronto.

Is Canada A Promised Land?

Canada is for many a promised land and the cradle of Niagara Falls. Also, Canada has the longest coastline in the world, and more than half of the population has a university degree. It also has the longest street in the world – Yonge street is 56 kilometers long. The two cities stand out for their size, Vancouver and Toronto. We will deal with Toronto and the way of life in it. Is it profitable for the life of the average resident? Canada is one of the few countries that have more than a solid immigration program, and also, its organization and development are what attracts many to come to this country and taste happiness for a better life. It is a fairly safe country where the crime rate is relatively low. Social policy is solid and the quality of life is at a high level. These are strong reasons for choosing Canada for life.

Is It Worth It To Embark On The Moving Toronto Adventure?

What you first notice upon arrival in Toronto is the architecture that depicts the peaceful history and diverse population. It is a mix of 19th and 20th-century styles, with very well-preserved and protected Victorian residential buildings. Today, mostly tall business and residential buildings are being built, real skyscrapers – of which there are many in Toronto in all parts of the city. Toronto has a large number of interesting and unusual museums that attract tourists with their content. The Royal Ontario Museum is especially well-known for its exhibitions of dinosaur skeletons – but the museum, in addition to its natural history, also has rich cultural and artistic collections from Japan, China, Byzantium, and Ancient Greece.

Life Costs In Toronto

Of course, coming to Toronto is not cheap, so if you plan to spend the rest of your life here, you had to secure a job in advance or have someone who will initially support you until you get back on your feet – because real estate is very expensive. The rental price goes to almost 30 percent of the average Canadian salary. So the risk of coming can pay off – but with some preparation.

How To Adjust Life In Toronto To Normal Costs Of Living?

If you are alone in this metropolis, you have to be financially secure. Real estate is very expensive, so it rarely pays to live alone – because a lot of money goes to rent. Although most overheads are not expensive – the internet, television, and mobile bills are. Fuel is a bit more expensive than the US but still cost-effective – and many Canadians use their vehicle. With a high per capita income, Canada is one of the richest countries in the world. According to, this country is open to foreign workers and can earn extremely well in it. So, if you are ready to sacrifice, you can always do 2 jobs for a while and thus contribute to your budget.

How To Plan The Cost Of Living In Toronto

Canadians tie a lot to the US dollar even if their dollar is stable. So your daily bill depends on the exchange rate of the Canadian dollar. Canadians mostly import raw materials, so prices can vary. Toronto is a big city and many tourists come to it throughout the year, so the prices do not surprise you because of that. Gasoline prices are only slightly higher than in America, but you will be surprised by the price of beer, wine, and alcohol due to the high tax. Depending on where you are in Canada, the Alcoholic Beverages Act limits where it can be purchased and consumed.

Real Estate Prices And How To Save?

The two most interesting cities to live in, Vancouver and Toronto, have extremely expensive real estate. There are enough rich people to buy these properties – but the lower and middle class can’t afford it. So you have to strictly control your life and Toronto through the costs you make. The best and one of the biggest benefits is that if you are creditworthy – you can run your budget more calmly. But despite everything, there are several reasons why you still want to move there. Above all, a healthy lifestyle, miraculously beautiful landscapes, the reputation of friendly people, the rights of the LGBT community, longer maternity leave, many opportunities for women, etc.

There Are No Excessive Social Differences In Toronto

Wealth is concentrated among the super-rich. In Toronto, the average income of the highest-paid 10 percent of people – is 8.6 times higher than those at the bottom of the occupation list. Yet the disparity between rich and poor is not as great as in Britain or America. Prime Minister Trudeau has promised, in his 2019 election campaign, that he will reduce disparities – and try to emphasize the need to create a strong middle class that will carry life in the metropolis. In Toronto, everything goes smoothly, from opening accounts to bureaucratic work at the counters. Many will be amazed by the kindness of the officials – but also regular people who are always willing to help.

Cost Reduction And Budget Control

Toronto has an excellent system of functioning. It is quite simplified and adapted to the common man – so that in the beginning you reduce the impact on the budget because you can end the bureaucracy work over the Internet. You can literally enter the bank or anywhere in flip-flops, with a T-shirt with straps, directly from the construction site, or with a helmet and protective equipment. Appearance is not important, a man is important. You can reduce the costs best by avoiding living alone – unless you have large inflows of money and a good job. Here are some more suggestions on how to slash your cost of living in Toronto.

Don’t Choose A City Center For Life

Don’t immediately choose life in the metropolis itself. Find a property a little out of town because it is more profitable to drive to work and an hour due to cheap fuel than to pay the property much more than you can. Real estate makes the biggest expense so make sure you make the biggest savings there.

Price Matching

It is also very important that you know the procedures in hypermarkets. Everyone does the price matching. And what is that? In translation, you come to one hypermarket with a flyer from another one – and the cashier immediately corrects the existing price to be like the competition. In theory, you can always buy at the lowest price of the competition. Mainly to save money – shopping is done once a week, and there is a strong consideration for frequent discounts, so it is a great saving and cost reduction.


Throughout the year, there are some festivals and events in abundance and for everyone’s taste – so there are a lot of discounts that you can use. However, in that urban madness, you somehow feel relaxed – and you should use every opportunity that comes your way to love Toronto.

All Purchases Are Made In One Place

Toronto is a huge city, a world metropolis – and always at the center of all events and trends. Many people say that Toronto is like a relaxed version of New York, or vice versa, New York is like Toronto on steroids. There are no stray dogs, wild cats, or junk on the street here. There are no street stands or street sellers, so most purchases are made in hypermarkets –  which is a huge reduction in costs.

The Bottom Line

You can plan and organize your life in Toronto very well – and bring your expenses back to normal if you follow a normal lifestyle. Toronto offers many opportunities – so if you are considering moving your life to this big city, don’t hesitate. On the other hand, if you’re looking for a nearby city where you can save on real estate, Etobicoke is a great area as well. You can find some good condo units in Etobicoke here –

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