Hello Everyone, how are you all? Here I am with a new video today.
So, you may have noticed that the title of today's video is My Monthly Expenses.
For those who are unaware, I have already made a video about My Monthly Expenses as a Student.
But, I am no longer a student. As you may know,
I have done a 2-year course on Computer Networking from Seneca College.
My course is finished, and I applied for a work permit in September, which has also arrived
4-5 days ago.
Now, I am here on a Work Permit.
So, my monthly expenses have increased or dropped, I'll explain everything in this video.
And following my student life, I shall discuss what expenses have increased and which have dropped.
So, watch the complete video. First, please like the video, and then let's get started with the video about my monthly expenses.
So, the first and most significant item that consumes a significant portion of your income is your monthly rent.
It is a significant cost, and I lived in a shared room during my student life.
As you may know, and if you don't, let me explain briefly.
I was living in a shared room with Ankit, and there were two people in one room, and I used to pay $310 for rent in Toronto.
I'm currently in Winnipeg because I shifted after finishing my studies.
So, I used to pay $310 rent for a shared room.
But, when I moved here, we rented a basement, and if you haven't seen my basement tour, I'll put a link here for you to check out.
So, we have two rooms here, where I and Sorav live in different rooms, implying that I now have a personal room.
As a result, I had to pay higher rent because I now have a separate room.
So, I no longer have to share a room, and the basement rent is divided for two rather than four people.
Now, we both pay half-rent for two rooms, and I've already made a video on the rent and how my basement looks.
So, I now pay $400 in rent. I used to pay $310, but now I pay $400. So, on average, my monthly home expenses are roughly $420.
So my monthly rent is $420, which is $110 more than my former rent.
The second major expense you must bear is the cost of your groceries.
Your Grocery can include things house hold items and food items like Rice, Pulses, etc.
But that's just me. Groceries are dependent on you; if you are a non-vegetarian, your expenses will be different; if you are a vegetarian, your expenses will be different.
Those who prefer to eat out have different expenses, those who prefer to eat at home have different expense.
It depends on you. But if I talk about myself, $400 is my rent
and talking about food, me and Sorav like home made and we prepare food by ourselves.
We only eat 4-5 times a month and not more than that.
Because we both work and cook our food after we get home.
We both know how to cook, so it's simple, convenient, and home-cooked food is always nutritious and tasty.
So, the expenses of our grocery is around $350-400
which includes everything like Milk, Food, etc.
So, it is around $200 per person. So, $400 is my rent, $200 is for grocery
totalling around $620.
But, if you don't know, my monthly expense in student life was under $650.
Because, I have to pay my fees and that time
I was saving my monthly income in a better way.
But, now as you can see, only two expenses costs me $620.
My thrid expense, which is now decreased a lot is my Phone Bill.
Any student arrives to Canada, the first thing they want is to buy an iPhone, latest model.
But, I'll suggest that don't do that, it will increase your expenses.
After a month, you will agree that it's just a phone.
As you can see, my phone's screen is broken and I don't really care about that much, I just wanted a Camera which I bought.
So, it's okay. I used to pay $110/month for phone
which is a huge amount and when I bought this phone, it was a latest model at that time
which is my foolishness.
I paid for it 1-1.5 years, but then I paid off. $200 left for this so, I paid all the amount
and now I am on a $50 plan, so, my monthly expense on phone is only $50.
So, if you monthly phone bill is under $50-55, then its good.
But I'm not suggesting you shouldn't buy a phone. Occasionally, good offers are available.
You are paying $50 for phone, you can get new iPhone in $65
or If you can acquire a new smartphone for less than $65 during Black Friday sales, it's not too bad.
However, if the amount is approaching $100,
then it will have an impact because $35 per month for a short period of time makes no difference.
However, if you pay $35 a month for 12 or 24 months while studying, you could have saved that money.
I'm just giving an example, if you want a phone, you'll buy it and you won't listen to me.
But, I am just saying from my Experience that, it's just a phone after all.
So, it's not beneficial.
But, if you must have a phone, choose one that allows you to spend no more than $70 a month.
$70 per month, not without taxes. $70/month including taxes, insurance, and so on.
So, the third expense is also discussed.
My bus pass was a fourth expense that was quite useful to me while in Toronto.
It was my transportation expense, for which you had to get a month's pass.
In Toronto, a presto card pass costs less than $140.
So, I got unlimited taps for TTC Area buses in Toronto.
So my college was a 10-minute walking distance, and my workplace was a 15-minute walking distance.
So, I spent 6-7 months under $150
and I didn't make Bus pass because ( I am just giving example, you should know about this)
it's a monthly pass and whether you used it for 4 times, 6 times, or 200 times, your $130 is gone.
So, I deposited $100 instead of making a bus pass because I knew that I won't use it that much.
So, that's how I spent on transport, there.
Now that I have a job and need to buy groceries, my usage is high.
Now, the pass costs roughly $102/month in Winnepeg Transit with unlimited usage.
Tap means your one-time usage.
So, I made the pass for $102/month. So, $620 for my monthly rent with groceries,
with $50 for phone bill totalling $670 & $100 for pass Totalling my expenses to $750.
So there you have it, the monthly pass. You can save money if either your college or your workplace is close by.
So, fortunately, I obtained a job nearby and my college was also nearby, so my money was saved
and I saved a lot on transportation in student life.
However, I use the pass here, yet my job is 30 minutes away. It's a cost for me, and I will make a pass every month here
till I get a Car, and If I get one, I'll tell you.
So, my monthly expenses are $620 plus $50 equals $670
plus $100 which is $770. So $770 is my expense so far,
and there are still some items left. So, these are the essentials without which survival is impossible.
Now for the extras. So our spending totalled $770, rounding up to $800.
My job starts at 9 a.m. on Sunday, and the bus service begins at 11 a.m., so I book Uber for it.
Uber costs me $15 every ride, so four rides per month add up to a total of $60 per month for Uber.
So, $800 plus $60 equals $860,
plus an additional $100 if we have to eat outside or pay for something.
So, the total is now $960, which means
my expenses, which were previously limited to $700, have now been increased to $960.
So that's what happens when you come on a work permit. Despite this, your income also increases because you were previously working 20 hours per week and now you're working full time.
You are now working 40 hours a week, therefore your income has increased, but your expenses have also increased.
But it varies because you can acquire a place with reasonable rent and also save money on groceries.
It can also increase, if you eat outside more often, which I don't recommend.
It's not worth it because it won't be healthy, and you can modify it if you cook your own food.
The third point is that if you own a car, your expenses will undoubtedly rise.
Even, if you have a Bus pass or not
If you own a car, your expenses will rise. So, if you make a lot of money and save some of it, you have the advantage of owning a car.
Like, even though my expense is around $900, I save some money from my Income.
But, if I purchase a car then my expenses will undoubtedly rise.
However, treat the car as an asset rather than a liability; don't spend $1200-1300 on a car and then feel obligated to perform extra work.
Live your life comfortably; the more your expenses, the more hours you must work
which is not worth it. That is why people are unhappy to live here and whine about how bad life is in Canada.
Because people here say things like, "My expenses have increased, so I must do this task and that work, I should do uber."
You can understand, It's not worth it.
So, that's all. I made a small video for you where I told you my monthly expenses
because many people requested it, and I decided to make a video about my monthly expenses in Winnipeg.
I hope you enjoyed it, and if so, please Like the video and subscribe to the channel
and thank you once again for 50,000 Subscribers.
I am too late now, but I am happy and I am very thankful to you all.
Follow me on Instagram, till then, take care, bye-bye guys, have a good one and stay safe.