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Today: 22.01.2018 - 14:06:14
   Canada Mortgage Hub Discussion Board -> Mortgage Edmonton -> Moving from australia to canada for 5 years, family of 5, how much money per month is sufficient ?
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ostros

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Moving from australia to canada for 5 years, family of 5, how much money per month is sufficient ?
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prizeworthy9832

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The simple answer...The Canadians who are working for the same company, doing the same type of work as you, are being paid a decent "living wage " OR they wouldn't be satisfied to be employed there, would they ? If they are happy with their income, and are able to get by with it, so should you.Does that make sense to you ?Jim b. Toronto.
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oscarh_17

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That really depends on what you mean by comfortable...A family of 5 is pretty big. We live a pretty comfortable life in Canada at 75K a year, and I have 2 kids.
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paramitas

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A comfortable life with a family of 5, you would definitely need to be making a minimum of 7,500 per month CAD.Here is a breakdown of your monthly costs:First, you won't be buying a house, so you'll be renting which is way higher than a mortgage.House rent: 2,000utilities: 1,000(This includes heating)Car payments: 350Gas: 150 to 200Car and house insurance: 75Groceries: 1200 to 1500Credit cards: 500 to 750clothes: 350 to 500And then its your daily family things that you'll be doing: Movie rental, dining out, theatres, sporting events, lessons for the kids (piano or karate lessons,etc): 750 to 1,000.
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