Student Living Costs Canada

Obviously, it is very hard to calculate how much money you will spend studying in Canada – there will be differences between individuals in everything from the amount of money spent on food to where you live to whether you decide to make frequent visits home. There are average prices for goods and entertainment that might give you an idea of what you will be spending on the basics.
  • One way bus fare - $2                                       
  • Meal out (per person) - $10-$25
  • International postage - $0.95
  • Utilities (per month) – $20-$30
  • Internet (per month) - $40
  • Cinema trip - $11.50-$13
  • Pair of jeans - $40-$80
As is the case with most countries, if you choose to live in the centre of a city you  will spend a lot of money on rent -  if you live further out you will pay less, but you have to bear in mind the cost of travel and the time it will take you to commute to class. You may decide that the extra cost is worth paying for the convenience and security it offers.

Accommodation costs in Canada

On average, rents in Canada cost around $600 per month.

One thing that you may not have considered is your health insurance, which you will have to take out as a matter of priority either as soon as you arrive or before you set off. If you need medical treatment it will be hugely expensive if you don’t have insurance. Expect policies to cost between $300 and $500 per year.

In general, the cost of living in Canada is lower than in a number of other countries – including the US, the UK and the rest of Europe. Things such as food, petrol and social activities will all be cheaper than elsewhere. You will probably spend an average $200 per month on food.

Expensive cities in Canada

In terms of the cities where you might be likely to live, a 2011 study by Mercer found that Toronto has the highest cost of living in the country. It is followed by Vancouver, Montreal, Calgary and Ottawa. These cities are the most expensive largely because of their high rent prices, however, they are also likely to offer the best experience for students.

If you want to set up a bank account whilst you are in Canada (which will avoid you paying bank charges if accessing an account that is based in your home country) the largest banks are the Bank of Montreal, the Bank of Nova Scotia, the Canadian Imperial Bank of Commerce, the National Bank of Canada and the Royal Bank of Canada.
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