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The minimum amount of settlement funds you need.

As per Citizenship and Immigration Canada, unless you have pre-arranged employment in Canada, you must prove you have settlement funds of at least $12,669 CDN per person, plus an additional $3,414 for each dependant who will immigrate with you. Note that how much money you need to move to Canada as settlement funds may vary according to where you want to move to Canada and is determined by family size.

While every family’s needs are different, and every region of Canada has a different cost of living, I suggest the following basic guidelines for a newcomer’s budget (excluding moving costs and airfares):

  • One adult moving alone: $25,000 CDN
  • A couple moving together: $30,000
  • A couple with one child under 10 years: $33,000
  • A couple with a child over 10: $35,000
  • For each additional child under 10: add $1,000
  • For each child additional child over 10: add $2,000

Basically, this sum of money will provide you with enough breathing room to settle into a new country before you find a job and start making an income. Depending on how well you budget, it should cover basic living expenses for four to six months. Anything less than this will make it extremely difficult.

Here is a small list of basic goods and commodities and what they cost on average in Canada’s popular cities.

Average list of prices in Toronto, Canada. Current as of Dec 2019

Combo meal at a fast-food restaurant (Big Mac Meal or similar) $10
Basic dinner out for two $40 to $60
1-litre whole fat milk $3.49
A dozen large eggs $2.99
½ kg of boneless chicken breast $7
1 kg of apples $3.90
1 kg of potatoes $2.45
A can of a domestic beer $3.10
2 litres bottle of Coca-Cola $1.79
A loaf of bread from a supermarket $2.50
4 rolls of toilet paper $2.67
1 litre of petrol $1.18

Monthly rent for a one-bedroom apartment in the GTA can range from $1800 to $2320 and
for a two-bedroom apartment in the GTA, it between $1800 to $2950 depending on the location.
Utilities 1 month (heating, electricity, gas …) for 2 people in 85m2 flat $130
Internet 8-10 Mbps (1 month) $45
Monthly public transport pass $145

Average list of prices in Calgary, Canada. Current as of Dec 2019

Combo meal at a fast-food restaurant (Big Mac Meal or similar) $10
Basic dinner out for two $40 to $60
1-litre whole fat milk $1.85
A dozen large eggs $3.70
½ kg of boneless chicken breast $7
1 kg of apples $3.41
1 kg of potatoes $3.12
A can of a domestic beer $3.10
2 litres bottle of Coca-Cola $2.15
A loaf of bread from a supermarket $1.65
4 rolls of toilet paper $2.90
1 litre of petrol $0.95

Monthly rent for a one-bedroom apartment can range between $1050 to $1300
And for a two-bedroom apartment, it can range from $1250 to $1450
Utilities 1 month (heating, electricity, gas …) for 2 people in 85m2 flat $159
Internet 8-10 Mbps (1 month) $65
Monthly public transport pass $106

Average list of prices in Vancouver, Canada. Current as of Dec 2019

Combo meal at a fast-food restaurant (Big Mac Meal or similar) $10
Basic dinner out for two $40 to $54
1-litre whole fat milk $2.20
A dozen large eggs $4.73
½ kg of boneless chicken breast $7
1 kg of apples $3.44
1 kg of potatoes $2.86
A can of a domestic beer $3.59
2 litres bottle of Coca-Cola $2.38
A loaf of bread from a supermarket $2.68
4 rolls of toilet paper $3.66
1 litre of petrol $1.50

Monthly rent for a one-bedroom apartment in the GVA can range between $1350 to $2150
And for a two-bedroom apartment, it can range from $1650 to $2950Utilities 1 month (heating, electricity, gas …) for 2 people in 85m2 flat $122
Internet 8-10 Mbps (1 month) $65
Monthly public transport pass $109

All prices mentioned are in Canadian dollars.

 

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