How is this for comparison?
I earn $43,000 per year. I live about an hour away from Toronto (in Bowmanville). I bought myself a small, modest townhouse recently which I pay for entirely on my own. About half of my monthly salary pays for my mortgage and all of my utilities. I manage to put aside $100 per month into my RRSP retirement fund. I drive a VW, which I managed to pay off the loan on. I also manage to have fun! I go out for dinner/movie maybe once a week, I buy little things for my house, and I have a decent wardrobe. I am taking my holidays at the end of May and spending a month in Europe.
Does this give you an idea?
The main thing here is to PRIORITIZE!!! I manage my money carefully and think twice before buying just anything.
I think you will do just fine on $52,000! If I were you, I would consider boarding with someone to help cut down on rent expenses in Toronto. Good luck!
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