Ave. household expenses
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    Question Ave. household expenses

    So I was talking to my brother, a businessman, last night. He claims the average Canadian household spends $5000/mth. (!!!) to keep things going. I just about died. Are any of you close to that? That includes debt etc.

    We fork over $2600/mth to run our household, and I think that's outrageous. Another $1000/mth goes into short term savings...to be spent on home renovation projects throughout the year. Our home is old and needs a lot of work. So I guess you could say we spend $3600/mth. I wonder who's throwing the average up there? Wonder where he got this figure...

    Jean

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    Registered User Debbie-cat's Avatar
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    Not counting groceries, our household cost is $415.00 give or take a buck. That includes internet, satelitte, phone, garbage, electricity, insurance. Our taxes run $800/yr. I am trying to get groceries under $500/mth. I would say we are not a family that keep the economy going in the States.




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    Registered User Wendy99's Avatar
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    Quote Originally Posted by peanut View Post
    So I was talking to my brother, a businessman, last night. He claims the average Canadian household spends $5000/mth. (!!!) to keep things going. I just about died. Are any of you close to that? That includes debt etc.

    We fork over $2600/mth to run our household, and I think that's outrageous. Another $1000/mth goes into short term savings...to be spent on home renovation projects throughout the year. Our home is old and needs a lot of work. So I guess you could say we spend $3600/mth. I wonder who's throwing the average up there? Wonder where he got this figure...

    Jean

    $5000.00 a month, wow - we maybe earn half that if we're lucky!! I cant imagine ...

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    Registered User sabrelvssammy's Avatar
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    ...i don't see how anyone can afford to live there....and that's the average? just think what the 'rich' must spend....

    good thing i live here in the states...i'd have to live in a cardboard box under a bridge in canada....

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    Quote Originally Posted by sabrelvssammy View Post
    ...i don't see how anyone can afford to live there....and that's the average? just think what the 'rich' must spend....

    good thing i live here in the states...i'd have to live in a cardboard box under a bridge in canada....
    No you wouldn't.

    Here is the average income in Canada.
    http://www40.statcan.gc.ca/l01/cst01/famil21a-eng.htm

    Here is a site for you to find out the average expenses in Canada. You just need to find a city closest to you. If you look at it, some of the expenses are crazy. If you want to spend almost $4,000 on recreation, $1500 on tabacco products, gifts almost $2,000 then maybe your average expenses would be that much.

    http://relocatecanada.com/stathousehold.html


    We bring in 1/3 of that and live quite comfortably. We have no debt, own our home and do quite well.

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    jas
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    I was gonna say wow that is alot of money! We don't spend near that here.

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    Registered User danni's Avatar
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    We only earn about $2500/month so we would be in big trouble if that was true.

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    Registered User Emjo's Avatar
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    We spend about $2500 a month, but we don't own a home. $5000 seems high to me, but not outrageous.

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    Cool! Thanks for the link Homesteadmamma. I can't believe what it says for my area though...A family spends $71K per year?! Truly guys, I'm with the rest of you...we live quite well (in fact, I think we live very well) off of considerably less.

    Maybe they're talking about those poor beggars in Toronto and Vancouver...the ones paying over half a million for a 3 bedroom bungalow.

    BTW, for the Americans on this thread. It's not as bad as it looks when you figure in the monetary exchange rate. Chop the figure to 80% and that's what it would cost in US dollars. Still, that's a fair chunk of change.

    When I look at the categories I think we have them beat in almost all, except possibly "Household operation". Utility rates have shot up since 2007 (when those figures were done). Plus I think all the repairs on the house shot up our "Shelter" figure too. Other than that, no way do we meet their average expenses.

    Jean

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    Registered User MomToTwoBoys's Avatar
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    Wow. I wish! We spend about $2800 per month and that's on everything I could possibly imagine. We only make $42k between the two of us per year.

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    Registered User PrairieGirl's Avatar
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    I would say we're below that, but not by much.
    And it has nothing to do with us living "extravaggently" or anything...we're just a young couple starting out so we havent paid all of our expenses off (cars and home).

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    That number doesn't surprise me, most people we know have two incomes. If a couple is pulling in $200K+ a year, I'm sure they are going to spend way more than $5000 a month. Those are the ones driving the national average up.

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    Registered User prftstrngr's Avatar
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    We bring in about $4500 a month after deductions and of that I would say $4000 is expenses. My mortgage alone is $1100 a month. Before my husband lost his job and went back to school we were closer to $7000 a month and yet still thought we had no money.....yes Im learning to be much more frugal!!!

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    Registered User freebs's Avatar
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    Wow i wish i had that to spend everymonth. gross dh and i bring in around 2200 a month. We have no credit card debt and no car debt.

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    Ok, I'm one of those suckers that lives near Toronto. I think it would be cheaper for me to live in Toronto.
    Our expenses are really high, partly by choice so I'm not complaining.
    We are self employed so some of our expenses like phones etc. are pair for by our company....
    Our property taxes, mortgage and utilities run $3300/month. That doesnt' include insurance, phones, gas, clothing, gifts, food.
    We live on 5 acres and have a fairly large home so this is part of the reason. We bought this place from my inlaws a couple of years ago so that they could stay here and we could have the space. We needed room to build a shop for our business and fil really wanted to stay here (they have an inlaw apartment).

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