This is really helpful! It's a great reminder to revisit our spending habits and identify the hidden areas where our money is slipping away without us even realizing it. Thanks for documenting!
Yes! I was shocked to see my spending to be honest and I will revisit my spending later, possibly make an update video. Thank you for watching and I’m glad you found it helpful :) Please consider subscribing so I get your feedback in the future!
Love how realistic and transparent you are about living expenses in Vancouver! It's eye-opening to see how much it really costs to live here in 2024. Thanks for sharing this insight! 🙌
Was there for 10days I spent $1500 +hotel + flight +food+drinks+best times 😂🎉❤+25 miles day walking.Love Vancouver . Cant wait to go back. People are so nice.
I am from the Bay Area San Francisco.Vancouver is way cheaper lol for having fun and experiencing Great Adventures for free meeting beautiful people. I guess if you willing to do lot walking 😂
I’m glad you enjoyed your stay here :) and yes I heard the Bay Area is crazy. My cousins are born and raised there but recently moved out to Portland. Thanks for watching! 😆
Grew up in the mainland. Went from 1400 for a whole 2000sqft house in the mid 90s to 2000 for 800sqft basement. Wages just havnt kept up unfortunately. Its definitely become a place that almost requires roommates or a so to live with just to split the cost of housing. This is the biggest factor for why we've seen the largest exodus from bc. Mainly moving to Alberta, USA or overseas, in that order. Making bout 80k/yr and finding it more difficult to save for future and/or vacations. Great video explaining the costs around here for anyone who is looking to move here. Though New West is a little more expensive area over Coquitlam, or Delta. Both neighboring cities. You wont really notice a good savings until you get out to Langley or Ridge
I agree, wages most definitely haven’t kept up with the cost of living especially the housing compared to many other major cities that are also expensive like San Fransisco, and New York. Even though their cost of living is actually higher than ours in Vancouver, the gap between Vancouver’s median income vs the cost of living here is much larger than those of other US cities. Thanks for your comment! Please considering subscribing so I get to hear your feedback on my future videos too :)
Another good content. Like you said, costs really depends and is way too subjective. For example, your car petrol costs $80 each pump for 7-10 days is considered cheap for a Camry... also it depends on how the driver drives and how much is used on the road.. whereas groceries and necessities we don't normally buy every day, we'd either buy enough for 2 weeks or for the whole month, that saves a lot... Mon-Fri home cook - sat & sun "take away" or eat out... restaurants or food courts at the malls... it's very subjective but 3-4k/mth can be the guideline not only for single person but a family with one kid (full nest 1)... Thanks for your constant effort in producing and delivering good quality content bro..
You are absolutely right, these costs are very subjective and I’m sure I can be spending a lot less, and there are also people that spend more than me. It would’ve been a bit more accurate had I tracked my entire month’s spending to account for bi-weekly and monthly spending on necessities as you mentioned. Thank you for your feedback, it means a lot to me to hear from the viewers and I can improve accordingly!
Your Vancouver spending is similar to a student. The highest cost is $2000 housing. With everything else being adding together $4000+ a month or under $50000 is quite reasonable living. In the US, the food and other living expenses would but the same except in USD. This is assuming no traveling that require airfare or hotel stays as well as no gf which can cost quite a lot. Assuming $100000 a year salary is $70000 after tax. This leaves $20000 a year savings. The living expenses seem pretty fixed so it is a question of increasing salary / earnings to have more savings. It looks like responsible spending vs. frivolous.
Thank you for your comment. I’ve definitely tried to keep my spending reasonable, having moved out at a younger age and trying to keep my expenses as low as possible even as my income rises. However, from my research, the median income for a single person in Vancouver is about $40,000-50,000k/year so it doesn’t leave much for savings if any. Vancouver salary is significantly lower than many of the major US cities, especially when you factor in how much more valuable US dollar is, compared to our Canadian dollar. I’d love to hear more of your valuable input in my future videos, please consider subscribing! :)
Wow - that’s a lot for just one week !! You should track how much you spend on a month. Appreciate how realistic it is though. I don’t spend that myself in a week for me that’s a month’s spend. I don’t eat out at all !! I’m lucky to eat out once a month. I drink my coffee at home and once in a while I’ll treat myself to SB or Tim’s.
Yes! After all the feedback from this video, I am considering making a monthly spend video with fixing my excessive eating out spending habits 😂 You are much more disciplined with your spending than I am and I can respect that!
@@WonbaeSon Japan is quite cheap. To eat out is half or less the price and no tips. And housing is VERY cheap comparatively. Especially if you want to buy something.
You could also add much more for to your monthly expenses if you did the following: Had sinking funds for things that will also come up, which I do. For example: Bday: $150/mth Christmas: $150/mth Clothing: $100/mth Car insurance/repairs: $150/mth Trips-Getaways: $300/mth This easily adds another $850/mth Plus, since you're a renter, you might be saving for a the down payment for a place of your own: $500/mth And, if you are into investing, which would be a great idea for someone your age, you could be doing that as well. Since you have a full time job and are pretty young, around $200/mth is a good place to start. This now adds another $1,550 to your monthly expenses, which I think is more realistic for someone in your place. Closer to $5,500/mth...? - if you're saving and investing like I do. (I'm twice your age and a home owner but it's not close to being paid off, yet I invest quite heavily each month, which will add to my healthy pension when I retire one day). In addiiton, you might want to save for an emergency fund of around $10,000 in case a big-ticket emergency item comes up, and at some point, it will. Nice video. I live in Vancouver as well and recognized some of your hang-outs. Good luck with your channel.
You definitely made a good point there. This was a week where I didn’t count for any of those monthly or quarterly expenses. Perhaps I should make a monthly cost of living video to account for those unexpected costs like travel, shopping, and emergency expenses that come up like car/home repairs. Thank you for your input, that way I can improve my videos going forward. Please consider subscribing so I get your feedback for future videos!
very cool video. dont feel bad about eating out once at least your not wasting money on delivery. also is 75 on a phone plan necessary? i find i never go through more than 20-30 gb and at that range a fido plan is like 40$
In my case, yes because I work as a realtor and use my phone daily for work so for me, it is necessary. But for majority of the people, my plan is overkill and could save half the cost as you mentioned around $40 from Fido, Koodo or like Freedom mobile
Being that an average price of a home (condo, townhouse, houses combined) is $1.25m, and considering 20% down payment, it’s extremely hard to save that much, making it a near impossible goal for an average Vancouverite with a median income.
Oakwyn Realty means you probably have a more sales oriented job so you might be used to going out more to take clients out. I would say your budget is reasonable for your age. You could consider buying what is on sale vs what you are craving.
Yes, good observation! I am in sales and there are often additional spending that I invest into my business but for this video, I kept it strictly personal spending. That is a good tip on buying things on sale though, I am trying to control my impulses better nowadays haha thanks for watching! :) I’d love to get your feedback on my future videos Please consider subscribing
@@WonbaeSon sure I can subscribe I am a local and my profession is finance and accounting. I might know someone at Oakwyn if you are in the office on Hastings near Willingdon. If you like Japanese, Tentatsu has great deals. Hope my comments were helpful you are more disciplined than I was at your age. Hope to encourage you more. Vancouver is a very expensive city I have to make instant coffee when at home and get free coffee at work.
@@jaschan2006yes that’s my office! And yes I’m actually going to make coffees at home and at the office going forward! Looking forward to your comments in the future :)
I DEFINITELY eat out too much 😂 but to be fair, McDonald’s coffees were $1 and I don’t spend on much else that’s unnecessary haha I was suggested to make a video showing the cost after cutting out my bad spending habits so maybe I’ll do that 🤔🤔
Interesting how you're exactly the type of person to complain about the cost of living here, but you're eating out mutliple times a week. Maybe try cooking 7 days a week and see how much money you save. Sunday you had work cancelled? Then how about you go mow some lawns or do any extra work instead of going to the beach the entire day. People just complain about the cost here but don't take any opportunity to actually make a living.
Hello Thanks for watching and commenting. I appreciate your feedback and yes I’m sure I could be doing a lot more to cut back on my eating out. I think there’s some truths to people complaining but Vancouver IS a statistically very expensive city to live in, median income vs cost of everything, especially housing costs. I’ll get back to mowing some lawns 🫡🫡 I hope to hear from you in my next video too!
I do skip breakfast regularly and the meals I don’t show here are me eating from the groceries that I bought. So not BS at all. Thanks for watching the video. I appreciate you watching and commenting anyway. It means a lot! 👊
