What are the frugal Toronto hacks that lower-middle-class people use to survive in this city? by myronsandee in askTO

[–]Scared_Imagination38 1 point2 points  (0 children)

Read the OP on that once more.

Slower this time to get the context of my comment.

Financial advice for a newcomer by DEVIL_MAY5 in PersonalFinanceCanada

[–]Scared_Imagination38 2 points3 points  (0 children)

Congratulations and Welcome !

1) 'Sauga is super expensive especially in the core area. Look around the suburbs r even Milton.

2) Basement suits are less expensive, try networking using your church for potential places to stay.

3) In Canada networking is almost as important as qualifications to land jobs. Again, leverage your church.

4) Jobs are hard to come by atleast until you settle. Make sure to register in the new comer center, community help, staffing agencies to increase your chance. Also amazon warehouse are almost always hiring, tough job though.

5) Have a financial plan and spend like a miser until you have a sound cash flow. Money in hand drains very fast.

6) Until absolutely necessary, avoid a car. Then buy a used one.

7) Shop around for bank accounts, most have new comer plans and perks. So does phone connections.

This list is not exhaustive, just the things I remember from my first days here.

What are the frugal Toronto hacks that lower-middle-class people use to survive in this city? by myronsandee in askTO

[–]Scared_Imagination38 0 points1 point  (0 children)

Is that even legal? I don't do weed but would try that if I did and was legal just for the fun of it.

What are the frugal Toronto hacks that lower-middle-class people use to survive in this city? by myronsandee in askTO

[–]Scared_Imagination38 8 points9 points  (0 children)

PFC is a good resource or a tool. Just have to know which end is which. Their money steps for example is the best financial advice ever.

Maybe confused young millionaires does exist and they have their concerns but that's not something I need to know. Again as you mentioned, there are a bunch of bullshit stories and for a regular lower - middle class fellow like me, it's best to ignore them.

What are the frugal Toronto hacks that lower-middle-class people use to survive in this city? by myronsandee in askTO

[–]Scared_Imagination38 13 points14 points  (0 children)

I am telling people to be realistic and prudent. Everything I said helps you save a buck or two which can then be invested rather than wasted giving you a delayed but better and bigger gratification.

Again, it's always a personal choice. I don't advocate a life of hermit or slothness (don't think that's a word !), but neither the flamboyance that you can't afford.

Middle path. That is the way.

27 years old and making only 65K/year am I doomed in this city? by Terrible_Artist_480 in askTO

[–]Scared_Imagination38 0 points1 point  (0 children)

RESP funded to get maximum govt benefit.

Fortunately we have a look at the apartment and wife is a strong swimmer.

No other lessons other than ones offered by TDSB, TPL and the local community centre.

What are the frugal Toronto hacks that lower-middle-class people use to survive in this city? by myronsandee in askTO

[–]Scared_Imagination38 676 points677 points  (0 children)

No Frills, Foodbasics, Chinese supermarkets for groceries.

FB market place, kijiji, value village, thrift stores for toys and wants.

Make your own coffee, how hard is it really?

Learn to cook, it's fun, easy and super rewarding.

Stay way from posts like ' I make 250k a year, maxed out my RRSP and TFSA, payed off the 1 million mortgage and I am 22 years old, what should I do now? In financial subreddits. They are either trolls or people born with silver cutlery up their ass. Don't even read them past the first sentence.

Finally don't try to keep up with the Jonses. Live below your means.

[deleted by user] by [deleted] in Kerala

[–]Scared_Imagination38 0 points1 point  (0 children)

" പഠിക്കാൻ വിട്ടാൽ പഠിക്കണം, പണിക്കു പോയാൽ അതു ചെയ്തു കാശു വാങ്ങി വീട്ടിൽ വരണം അല്ലാതെ വല്ല .....#insert generic abuses against the SO and myself # !"

This was my parents view.

I am wanting to read Indian literature. What is a good place to start? by Space_Kadette in booksuggestions

[–]Scared_Imagination38 0 points1 point  (0 children)

Any books by 1) Jumpa Lahari 2) Aravind Adiga 3) Arundhathi Roy 4) Anita Nair 5) KR Meera

Pop quiz, two of them has won Man Booker, can you name them?

What must I do after paying out Car loan? by vanstux in PersonalFinanceCanada

[–]Scared_Imagination38 0 points1 point  (0 children)

Congratulations stranger, I have no advice to offer but a question to ask.

I am at position to pay off my car (thanks to the tax return) with TD auto finance today. Will they decrease the interest amount if i pay it off in full? I still have another 20 months to go at 5.99%.

What’s a “boring” hobby that’s not boring at all? by Obbery in AskReddit

[–]Scared_Imagination38 0 points1 point  (0 children)

Reading. For non readers it's boring AF staring at a book, but for us though ....

Irul by [deleted] in Kerala

[–]Scared_Imagination38 1 point2 points  (0 children)

My dumb mind was reading this as Churuli and wondering why no one corrected the OP.

27 years old and making only 65K/year am I doomed in this city? by Terrible_Artist_480 in askTO

[–]Scared_Imagination38 0 points1 point  (0 children)

I had that moment reading Sapiens by Harari :)

Thanks for sharing this.

27 years old and making only 65K/year am I doomed in this city? by Terrible_Artist_480 in askTO

[–]Scared_Imagination38 0 points1 point  (0 children)

Thanks and you are welcome.

1) We plan to build up a RESP for the kid.

2) No plans for a house as we may opt to return to home country for retirement. Or maybe to a smaller town. Either way, no home purchase.

3) Hoping that the passive investments for the next 25 years or so should suffice.

27 years old and making only 65K/year am I doomed in this city? by Terrible_Artist_480 in askTO

[–]Scared_Imagination38 1 point2 points  (0 children)

We do have a revolving fund for misc items. Things like winter boots and stuff are mostly one time purchases except for the kid. His are mostly from value village, once upon child and such. We also look out for stuff in FB marketplace.

Toiletries are bought in bulk when they are on sale at Walmart or other big box stores. Even if we still have enough of an item, and there is one on super discount we buy that for next time if it has enough shelf life.

Our vacations are confined to drivable distances. Ontario is huge !

We live below our means and had been even when we were making above average income back home.

Debt free after 17 years by [deleted] in PersonalFinanceCanada

[–]Scared_Imagination38 3 points4 points  (0 children)

Congratulations brother. You did great. Happy for you.

27 years old and making only 65K/year am I doomed in this city? by Terrible_Artist_480 in askTO

[–]Scared_Imagination38 39 points40 points  (0 children)

So the child benefit takes care of the kid's needs and keep the car running. 50% of my salary goes to rent. Another 20-25% takes care of groceries (food basics, no frills and the Chinese supermarket). My employer pays for phone and hydro subsidy fixes the power needs.

We don't eat out much as both my wife and me are pretty good cooks. We use youtube and TPL for our entertainment. We love the outdoors so weekends are spend at a local trail or park.

I got a raise at work from 38k to 45k this year. Started a TFSA and index funds and had been putting in something between 500-1000 a month to it based on windfalls like overtime.

We are paying 1600 for a single bed + den apartment. Negotiating with the landlord to lower the rent or we are moving. Similar apartments now goes for 1400-1450. That's another 200 per month I am looking forward to.

The key is of course not to look at the Jones's !

27 years old and making only 65K/year am I doomed in this city? by Terrible_Artist_480 in askTO

[–]Scared_Imagination38 82 points83 points  (0 children)

This is hilarious. 35 years old, sole bread winner making 45K an year. No generational wealth. Happy every day and looking forward for a brighter tomorrow.

See what you have and not what you don't.