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bt
Member
2013-Jan-23 8:37 pm
Cost of living in MTL?I've got a friend asking if $42k/yr is enough to survive on for 2 people in Montreal. Since I'm not that up to date on cost of living in Montreal, I figured I'd ask the Montrealers here. |
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Depends where and how well you want to live. |
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bt
Member
2013-Jan-23 10:29 pm
I guess somewhere with a reasonable (non-driving) commute to McGill. As for how well, "survive", so not wanting for the basics. |
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kenze join:2009-10-09 Montreal, QC |
kenze to bt
Member
2013-Jan-23 10:57 pm
to bt
About 1500 $ per month for 2 people.
600-700 on rent, this includes utilities
400-500 on food minimum to eat well.
125 for internet and 2 cellphone bills
Transportation will cost anywhere from 90 to 155 per month for both
Another 100 on misc expenses. |
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milnoc
Member
2013-Jan-23 11:36 pm
Sounds about right, although I believe the rent estimate would be for a studio apartment in the McGill Ghetto. A 1 bedroom apartment (a.k.a. a "3 1/2") would cost more. |
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horsey to bt
Anon
2013-Jan-23 11:42 pm
to bt
said by bt:I've got a friend asking if $42k/yr is enough to survive on for 2 people in Montreal. Since I'm not that up to date on cost of living in Montreal, I figured I'd ask the Montrealers here. More info? If we are talking 2 people on minuim wage NO. If one person is talking home 42 K Yes. It is hard to live in a world class city and not be able to afford all it has to offer. |
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GuspazGuspaz MVM join:2001-11-05 Montreal, QC |
to bt
First, let me define how Montreal measures apartment sizes:
One and a half: Single-room apartment, very small. Might be called studio elsewhere. Two and a half: Normally a single-room apartment with an alcove for the bed. Three and a half: One bedroom apartment Four and a half: Two bedroom apartment Five and a half: Three bedroom apartment etc.
Rent will always be highest close to any metro station, but rent will still be much cheaper outside the downtown core, even close to a metro station.
My building, which is "downtown" (five minute walk from Concordia) charges $895 - $975 for a two and a half (366 sqft, AC/heat/electric/appliances incl.), although I'm only paying a bit over $800 due to living here a while. For two people, you would probably want at least a three and a half, which in this building is $995 - $1095 per month. I'd consider my building to be an upper midrange building. It's not fancy, but it's relatively modern and well managed, with a security guard in the lobby at night. There's a nicer building around the corner, for example, that charges 200-300 more for a three and a half than my building.
If you want to save cash, live outside downtown and commute by public transit (like metro). If you're in NDG or something you can get a five and a half for less than I pay for my two and a half.
Public transit pass (no commuter train) is $77 per person. They're tax deductible.
For food, I have no real idea how much it costs if you make your own food (I don't cook), but $400 a month for two people is an average of $2.23 per meal, which seems a bit low.
Consumer goods and services are probably similar to anywhere else (what with the internet and large chains normalizing pricing and all). I mean, you're going to have all the normal expenses you'd expect beyond those kenze listed.
$125 is cutting it close for telecom bills. Presumably no TV service. Cable internet will save you money because of no dry loop fees; $40 gets you 8 meg cable with a 300GB cap. Assuming you don't need a telephone line due to cellphones, you're looking at maybe $35 each on a cellphone. You're not going to be using smartphones for that price, $40 is sort of where that starts.
If $42k is your pre-tax income, you're going to have trouble. If $42k is your combined after-tax income, you should be fine. |
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to bt
Live in Verdun or NDG/CDN. Close to downtown, low rents ($750 for a 2bdrm).
$42k/yr is about $2100/mo. You can swing it for sure. |
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to Guspaz
$125 for the telecom bills can work if you skip the cable TV and just get a Netflix subscription. Also Guspaz, you forgot the 30% surcharge payment to the Montreal Mafia. |
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to horsey
said by horsey :said by bt:I've got a friend asking if $42k/yr is enough to survive on for 2 people in Montreal. Since I'm not that up to date on cost of living in Montreal, I figured I'd ask the Montrealers here. More info? If we are talking 2 people on minuim wage NO. If one person is talking home 42 K Yes. It is hard to live in a world class city and not be able to afford all it has to offer. 2 people, single income. $42k is pre-tax, not take home. It's also a move to Canada, not just to Montreal, so we can count out relying on any government services that require you to be Canadian. |
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eksterHi there Premium Member join:2010-07-16 Sainte-Anne-De-Bellevue, QC |
to Guspaz
$400 for food for two is fine. We spend between $200-500 a month, and we tend to buy pricier and healthier food.
Rent depends on location A LOT. I know some people who rent a 4 and a half, heating included, for $700 in Lasalle, close to metro and plenty of buses. I also know people who pay a $1000 for a 2 and a half downtown.
Living on $40k gross for two is reasonable. There won't be too much room for spoiling themselves, but it still can sustain a reasonable lifestyle with a few sacrifices. |
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MaynardKrebsWe did it. We heaved Steve. Yipee. Premium Member join:2009-06-17 |
to bt
said by bt:I've got a friend asking if $42k/yr is enough to survive on for 2 people in Montreal. Since I'm not that up to date on cost of living in Montreal, I figured I'd ask the Montrealers here.
After-tax, it's enough. Pre-tax, it depends. |
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GuspazGuspaz MVM join:2001-11-05 Montreal, QC |
to bt
Well, if that is going to count for taxation purposes as $21k/yr per person, at least there won't be much tax to pay. Still, $42k pre-tax living with two people in Montreal is going to be very student-living. |
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donoreo Premium Member join:2002-05-30 North York, ON |
to MaynardKrebs
said by MaynardKrebs:said by bt:I've got a friend asking if $42k/yr is enough to survive on for 2 people in Montreal. Since I'm not that up to date on cost of living in Montreal, I figured I'd ask the Montrealers here.
After-tax, it's enough. Pre-tax, it depends. After Tax in Quebec leaves...12K? |
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eksterHi there Premium Member join:2010-07-16 Sainte-Anne-De-Bellevue, QC |
ekster
Premium Member
2013-Jan-24 10:55 am
Two people living together with a 40k income will most probably get back all the taxes they've paid. |
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shepd join:2004-01-17 Kitchener, ON |
shepd to bt
Member
2013-Jan-24 11:45 am
to bt
They'd get back two personal amounts ($20k total) + they would possibly receive GST cheques. Also, there's a high chance of getting apartment taxes back.
Total income taxes paid would be something like $1500-$2000, from my experience. |
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GuspazGuspaz MVM join:2001-11-05 Montreal, QC |
Guspaz
MVM
2013-Jan-24 12:09 pm
said by shepd:They'd get back two personal amounts ($20k total) + they would possibly receive GST cheques. Also, there's a high chance of getting apartment taxes back.
Total income taxes paid would be something like $1500-$2000, from my experience. Isn't your experience from a different province with different tax laws and rates? Quebec pays far more income tax than Ontario, and apartment tax credits are now built into the Solidarity Credit. Ontario pays roughly 5% on the lowest tax bracket. Quebec pays roughly 16%. Assuming no other tax credits (which will give us a worst case), I calculate it as: $42k total $21k per person $21k - $10,822 = $10,178 (Federal taxable amount) $21k - $10,925 = $10,075 (Provincial taxable amount) $10,178 * %15 = $1,526.70 (Federal payable tax) $10,075 * %16 = $1,612.00 (Provincial payable tax) $1,526.70 + $1,612.00 = $3,138.70 (Total payable tax per person) $3,138.70 * 2 = $6,277.4 (total payable) So, you say $1,500 to $2,000, I say $6,277.4 assuming zero tax credits. Obviously that will go down after credits, but I doubt it'd go down to $1500-2000... |
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bt
Member
2013-Jan-24 12:12 pm
said by Guspaz:Assuming no other tax credits (which will give us a worst case) There's also the potential for taxable benefits which would make it go the other way, though they could wash with the credits. |
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donoreo Premium Member join:2002-05-30 North York, ON |
to Guspaz
I remember working with a guy who had just moved to Ontario from Quebec. He thought there was a mistake on his pay because there were so few deductions. |
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GuspazGuspaz MVM join:2001-11-05 Montreal, QC |
to bt
Yeah, my calculations don't include the source deductions for QPP, EI, or health insurance (assuming they have a health insurance plan). |
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