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What are the monthly living expenses for a family of 3?
Your monthly expenses depend on many things, such as your city, housing type, where you shop, your lifestyle and more.
It is not easy to provide a specific monthly expense for you and your family. Living expenses vary from city to city in Canada. Some household spending surveys estimate that the average family will spend C$55,000 - C$65,000 per year.
Different stores charge different prices for food, clothing, and other things you need to live. You may want to ask your relatives, friends, or coworkers where they shop for good prices.
There are also special services or stores in many communities where you can find items for free or a low price.
When looking at monthly expenses, you'll want to budget carefully. A budget allows you to manage your money, planning your expenses from month to month, and helps you to live within your financial means.
Many community agencies can help you find information about living expenses and budgeting. To find help in your area, go to Services Near Me.
For More Information
January 19, 2012
- Canada's Best Places to Live - MoneySense magazine analyzes data for 100+ communities to discover the very best places to live in Canada. This is updated once a year.
- Settling in Canada - Profiles of some of Canada's major cities and regions.
- Monthly Budget Tracker [PDF] - This booklet makes it easy to track (record) your fixed and variable spending. Knowing how you spend your money is the first step in creating a realistic budget.
- Tips to Reduce Water Costs - This website lists many ways you can save water at home, in the garden and at work. From the City of Toronto.