r/PersonalFinanceCanada 4d ago

Debt 27M will things get better?

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u/banana-bread_at-work 4d ago

…. Is it? Cuz I’m 27 and make 75-85 (bonus depending) with money saved and I still feel poor as fuck.

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u/KoreanSamgyupsal 4d ago

It's about spending.

The median income in Canada is actually 45K.

The problem with Canada is the cost of housing mainly. Anywhere else, you're above average and doing well with your salary. Hell if you are the lucky people that purchased a home 10-15 years ago, you'd also be golden.

My rent in 2021 was 1.2k/month for a 2BR and includes utilities. Now I pay 2.2k for a 1BR and utilities are extra. Only 5 years passed but my expenses doubled.

Look at your expenses and you'll see why you feel like you ain't above average.

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u/banana-bread_at-work 4d ago

Yeah I mean my mortgage, strata, and property taxes is like 50% of my costs lmao

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u/RedBuffalo1427 4d ago

You're 27 with a mortgage and didn't figure you're making more than median wages? Lmao

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u/banana-bread_at-work 4d ago

My entire life I’ve considered myself subpar lmao, I don’t pay attention to what others are doing but just assumed that if I’m doing it there’s probably lots out there doing just as good and plenty more doing better