How much do I need to live on my own in Toronto as of 2025?
I'm thinking I'll need to earn maybe like 24 CAD per hour, and assuming I'm working a full-time job, probably like roughly 50K annually. Although due to income taxes, I think I'd only have like roughly 40K left which not sure if it's enough. I thankfully live outside of Toronto, so I can probably get by with minimum wage or even slightly less, which in Ontario is a bit over 17 CAD per hour.
Let's assume that at most I'll use a motorcycle and/or ridesharing as a means of transportation, and I don't waste my money on social events like parties, concerts, theaters, drinking, gambling, etc. Let's also consider that I'll be renting a place all to myself, so either a studio/bachelor or a 1 bedroom apartment rather than an entire home nor sharing common spaces. Also let's pretend I'll avoid renting in affluent neighborhoods and ghettos too.
Let's assume that at most I'll use a motorcycle and/or ridesharing as a means of transportation, and I don't waste my money on social events like parties, concerts, theaters, drinking, gambling, etc. Let's also consider that I'll be renting a place all to myself, so either a studio/bachelor or a 1 bedroom apartment rather than an entire home nor sharing common spaces. Also let's pretend I'll avoid renting in affluent neighborhoods and ghettos too.
26-30