How a not-so-wealthy guy lives in downtown Toronto
A Canadian journalist tells how he saves money in the most expensive city.
Patrick Gilson works as a content writer for the Canadian online-magazine The Narcity. Like many writers and others in the arts, he is as poor as a church mouse. By all accounts, there's no way he can afford to live in Toronto. The average rent of a studio apartment would eat up half his salary. Nevertheless, he's been living in this city for ten years. How does he do it? Patrick shared his secrets with the readers.
Rent a place together
Patrick lives downtown, in a fairly affluent neighborhood. But his own house is modest — it's an old building that his landlord has no money to renovate. Gilson's apartment has all the amenities: a bathtub, a refrigerator, Internet, beds, and furniture. Otherwise, the conditions are Spartan. The writer rents this corner together with his friend. They divide the rent in half, so it becomes quite affordable. The young people often spend a lot of time at work, so they also save on utilities. You can take a light shower at home, and have a thorough bath day at the gym — subscriptions are cheap, and the use of showers in the fitness center is free.
Many people in Toronto do this. They rent a place with a group of friends. This is especially convenient for young people who study or work a lot — they only go home to rest and sleep.
But lately, even large families are renting houses and apartments together. It's easier for two families to live in a four-bedroom apartment than for one family to rent separately. Canadians have rediscovered the phenomenon of communal housing and are very happy about it. Only it has a nicer name: coliving.
Plan moves and all important purchases in advance
Patrick never moves to another house without careful preparation. He and his companion start looking for a new place in advance. This makes it possible to choose the best option. Finding a good apartment in two months is much easier than finding it in a week.
And there is also a good time for all the action: in a certain season, rent drops. For example, it is better not to look for an apartment in late August, when students come to town. But in June, they end their studies and many leave their rental housing, which causes its price to fall.
Likewise with large expenditures. Contingencies are possible, but it usually works out when the old laptop is in disrepair and needs a new one. Start saving your money and monitor the seller's websites in advance. It is quite possible that you will be able to find a discount on the desired product or a promotion.
Keep a log of income and expenses
Patrick has become a genius at controlling expenses and income, even though he hates counting money. He keeps his budget in an Excel spreadsheet. You can record your spending in a notebook or download a special offer.
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The main purpose of these records is not to limit your spending, but to analyze how you spend your money. Patrick, for example, started ordering food delivery and using streaming services less often. It came easy to him — he reasoned that he spends a lot on these things, but doesn't really need them.
Look for affordable entertainment
Patrick and his girlfriend like to have fun. They like to go to bars, movie theaters, and sports games. But money is tight for both of them. So together they look for affordable places and services where tickets can be purchased cheaper. In Canada, this is quite possible — there are many websites and apps that report on discounts and promotions, or provide special coupons. Some would say that Patrick and his girlfriend are just greedy, since they save money on holidays together, but the couple is quite happy and does not feel deprived.
With his article, Gilson wanted to show that it's possible to live in Toronto on a tight budget. He wants others to follow their dreams and pursue a career in this city, even if they are told they are too poor for it.
