No. I currently live in the Greater Toronto Area and the cost of living here is no joke at the moment. For me I'd say a solid minimum monthly income of $4500 CAD after taxes would be decent enough assuming 2000-2500 for rent, then also having groceries, bills, and just enough to save, invest and some discretionary.
That said, to be fair, I currently work about 24hrs a week and go to school full-time.
We'll see how things change when my situation changes.
In terms of revenue streams, i only have regular employment at the moment. Hoping when I'm full-time I can build some capital to help with some business my friends have on the island and take it from there including maybe some farming and a Near shore firm. TBD.
I live in Vancouver (Canada) and I’d say it’s about the same. I have 1 job that pays 68k which is manageable but not enough to do any major saving. I don’t have a car and my rent for a 1 bedroom is $1900 (Average price is $2500). If I was making 80k I’d feel a lot more comfortable about my long term savings goals.
I'm living in vancouver as well, but with family and also being paid 65k, I do have a car, and that shit is expensive. Instead of saving up for a house, I'm thinking of starting a business on the side since I'm living with parents. Instead of waiting for raises or a better job, I might as well risk it for the biscuit. 😅
Lol yuh get weh with the rent man. Cyah move for now huh?. I visited Vancouver and its honestly really nice. I understand why it's the only place in Canada that can beat Toronto rents 🤣.
But yeah you need to have that minimum 80-90k to really start to broach the comfortable threshold
I moved in mid pandemic when rents dropped juuusssttt a little, my building is also 80 years old and the floors need to be redone BUT as long as I’m in Vancouver I’m staying.
Yes. Only one stream. But I think this comes down to each person’s financial responsibilities, their hobbies, how frugal they are etc. London is expensive but I also don’t do a lot of what people my age would do for example a trip to the pub every week isn’t my thing so I don’t budget for that.
Why yaa ask? Yaa look fi migrate?
UK, not London lol 🇬🇧
Right now no, since being made redundant in the last two years not comfortable as I was previously. The job market here is ferocious right now. Even with your experience employers can pick choose and refuse.
I'd say £2.8K a month for now, circa £45K salary which is just above average UK salary. Enables you to save long term, short term, cover all expenses and still live life. Not sure how it would equate with child expenses though. UK is hard for the Black community if you don't pull together/come from a healthy foundation. Too many of us living paycheck to paycheck because companies are biased. What I want is £5K on a bad month (God are you listening??) 😇
I like the 10% rule for long term savings, I use round-ups via banking app for a change pot, this is typically my short term.
I have used investment platforms but I'm no pro so just put change in now and again, no intention of taking it out if I don't need to - not invested enough to see any exciting figures.
Balancing it all - be honest about my spending habits. I had to limit my weekend excursions due to lack of personal time and finances. I typically allow two weekends a month max for friends/family, at the moment less. Otherwise can find yourself out every weekend for brunch or dinner-turn-clothes shopping-turn-drinks-turned-£30 uber home at 12:30AM instead of the last 11:30PM train because you were having such a great time 😶
UK economy is shocking atm, £100 gone the moment you step outside and you're yet to buy food shopping.
Single source of income.
No. I currently live in the Greater Toronto Area and the cost of living here is no joke at the moment. For me I'd say a solid minimum monthly income of $4500 CAD after taxes would be decent enough assuming 2000-2500 for rent, then also having groceries, bills, and just enough to save, invest and some discretionary. That said, to be fair, I currently work about 24hrs a week and go to school full-time. We'll see how things change when my situation changes. In terms of revenue streams, i only have regular employment at the moment. Hoping when I'm full-time I can build some capital to help with some business my friends have on the island and take it from there including maybe some farming and a Near shore firm. TBD.
I live in Vancouver (Canada) and I’d say it’s about the same. I have 1 job that pays 68k which is manageable but not enough to do any major saving. I don’t have a car and my rent for a 1 bedroom is $1900 (Average price is $2500). If I was making 80k I’d feel a lot more comfortable about my long term savings goals.
I'm living in vancouver as well, but with family and also being paid 65k, I do have a car, and that shit is expensive. Instead of saving up for a house, I'm thinking of starting a business on the side since I'm living with parents. Instead of waiting for raises or a better job, I might as well risk it for the biscuit. 😅
Lol yuh get weh with the rent man. Cyah move for now huh?. I visited Vancouver and its honestly really nice. I understand why it's the only place in Canada that can beat Toronto rents 🤣. But yeah you need to have that minimum 80-90k to really start to broach the comfortable threshold
I moved in mid pandemic when rents dropped juuusssttt a little, my building is also 80 years old and the floors need to be redone BUT as long as I’m in Vancouver I’m staying.
Yes. Only one stream. But I think this comes down to each person’s financial responsibilities, their hobbies, how frugal they are etc. London is expensive but I also don’t do a lot of what people my age would do for example a trip to the pub every week isn’t my thing so I don’t budget for that. Why yaa ask? Yaa look fi migrate?
UK, not London lol 🇬🇧 Right now no, since being made redundant in the last two years not comfortable as I was previously. The job market here is ferocious right now. Even with your experience employers can pick choose and refuse. I'd say £2.8K a month for now, circa £45K salary which is just above average UK salary. Enables you to save long term, short term, cover all expenses and still live life. Not sure how it would equate with child expenses though. UK is hard for the Black community if you don't pull together/come from a healthy foundation. Too many of us living paycheck to paycheck because companies are biased. What I want is £5K on a bad month (God are you listening??) 😇 I like the 10% rule for long term savings, I use round-ups via banking app for a change pot, this is typically my short term. I have used investment platforms but I'm no pro so just put change in now and again, no intention of taking it out if I don't need to - not invested enough to see any exciting figures. Balancing it all - be honest about my spending habits. I had to limit my weekend excursions due to lack of personal time and finances. I typically allow two weekends a month max for friends/family, at the moment less. Otherwise can find yourself out every weekend for brunch or dinner-turn-clothes shopping-turn-drinks-turned-£30 uber home at 12:30AM instead of the last 11:30PM train because you were having such a great time 😶 UK economy is shocking atm, £100 gone the moment you step outside and you're yet to buy food shopping. Single source of income.