Cost of Living

[MyMeowCat]

I was just reading about Allison from the Flight Training section about how they pay $2000 to $3000 per month and I was just doing some calculations about what it might cost to actually live in Alberta:

Mortgage 600
Property Tax 150
Cable and Internet. 100
Phone + extra line + long distance 116
Fuel (Car) 280
Electricity and Water 230
Gas/Heating 180
Car Lease 340
Cell Phone 70
Porn site subscriptions 40
Food 300
Smokes 300
Beer 180

SUBTRACT ROOMATES
FIXED MONTHLY PAYMENT -400

Total Living Expense 2486

Flying hours required to
break even per month
(Assume $30/hr) 82.87

Divide by 4 to get
Hours per week: 21 hrs per week flying to break even

Note this assumes you own the place, don't pay home insurance, don't do laundry and have no entertainment and don't do things like buy new clothes or gadgets like MP3 players, IPODS, etc.
Conclusion -- it is possible to live from between $2000 to $3000 per month in Alberta

[grimey]

You forgot income taxes in your budget. $24-36k puts you well above the basic exemption.

[MyMeowCat]

You forgot income taxes in your budget. $24-36k puts you well above the basic exemption.

This assumes you "NET" $30/hr instead of "GROSS" $30/hr.

Yikes! I forgot to mention car insurance Anyways -- let's just drive without it or take the bus at $2.50 per one way trip.

I forgot to mention that $300 for food is assuming 1 Kentucky Fried Chicken 4 piece combo per day (more like $8 to $9 per shot) and that if you need a second meal that it's either free or parents pay for the second meal of the day.

The "mortgage" of $600 per month assumes you already made a down-payment a long time ago and got the house when prices were low and now my monthly payments are $600 per month. IF you rent -- the cost of a 1 bedroom condo can run you about $400 more per month ($1000)

OK -- let's assume you need 2 KFC meals per day (that makes it an additional $300 plus an additional $400 assuming you rent) please add another $700 to the orginal figure.

[grimey]

the cost of a 1 bedroom condo can run you about $400 more per month ($1000)

Paying $850 in CYPE right now, includes utilities. The guy in my building who didn't secure his wifi is a nice plus.

[1000 HP]

I was just reading about Allison from the Flight Training section about how they pay $2000 to $3000 per month and I was just doing some calculations about what it might cost to actually live in Alberta:

Mortgage 600
Property Tax 150
Cable and Internet. 100
Phone + extra line + long distance 116
Fuel (Car) 280
Electricity and Water 230
Gas/Heating 180
Car Lease 340
Cell Phone 70
Porn site subscriptions 40
Food 300
Smokes 300
Beer 180

SUBTRACT ROOMATES
FIXED MONTHLY PAYMENT -400

Total Living Expense 2486

Flying hours required to
break even per month
(Assume $30/hr) 82.87

Divide by 4 to get
Hours per week: 21 hrs per week flying to break even

Note this assumes you own the place, don't pay home insurance, don't do laundry and have no entertainment and don't do things like buy new clothes or gadgets like MP3 players, IPODS, etc.
Conclusion -- it is possible to live from between $2000 to $3000 per month in Alberta

$600 dollar mortgage? HA! Most people where I live are paying $1700 per month for the mortgage, unless they bought ten years ago. This is a job for kids who still live at home with mommy and daddy. Nothing more....

[Nark]

..oOr those who know how to live within their means.

How is it that so many can survive (or struggle like we all did at the start) without declaring bankruptcy?

[200hr Wonder]

Easy I keep re-negotiating my loans for more money right before I get in deep shit

[visual approach]

well said Nark. Is there really a need for a $116 a month phone bill? My only phone is a cell and it runs me around
$50-60 a month. Who needs 3 phone lines (phone+ extra line+cell)? Why lease a new car when you can buy an old POS for $2000 that gets you from A to B. If you quit smoking and drinking you will save nearly $500 a month!!!!

Note this assumes you own the place, don't pay home insurance, don't do laundry and have no entertainment and don't do things like buy new clothes or gadgets like MP3 players, IPODS, etc.

your entertainment was included (porn site subscription).

This is a newbie position and pays accordingly. Not saying that the pay is good, but you can live on it. Obviously it is not going to be the wage for ones entire career.

[unknowingly upsidedown]

Rent 625 (shared two bedroom, includes util)
Cable and Internet. 45 (shared $90 total)
Phone + extra line + long distance Get rid of it. Use your cell phone and something like SKYPE
Fuel (Car) 280
Electricity and Water Included in rent remember
Gas/Heating also
Car Lease 340
Cell Phone 70
Porn site subscriptions 40 Add this to "beer" and call it entertainment
Food 300
Smokes 300 You have got to be kidding!! If you complain about no money, this should be first to go.
Beer 220+40 = 260
Incidentals: (toothpaste, TP, etc) 100
Total: 2320


Here is what I came up with. Made some changes to your budget to show that it can indeed be done. Its not how much you make but how much you spend. Prioritize. Do you need a new car? Why don't you get a 4-5,000 dollar car instead? Also, quit smoking and invest that money or do something smart with it. The rent/util numbers i used are what I pay. I live about 10 minutes from CYYC in a very nice two bedroom basement unit. I own my truck, but still pay 80/month on insurance and however much on gas.


To use myself as an example again, I had a job pulling down well over 4000 a month (oilfield). I was always broke. I am trying to learn how to spend my money smarter and make it last, and I have done good living off student loans for the last couple years.

Now I just gotta figure out how to budget a PPL into the equation.

[Captain X]

Food 300???

If you only eat No Name KD and Hot dogs.... $300 don't get you very far if you have fresh produce and non processed meat.

[visual approach]

Food 300???

If you only eat No Name KD and Hot dogs.... $300 don't get you very far if you have fresh produce and non processed meat.

well if your going to be spending $300 a month on smokes, you might as well eat crappy food (KD and hot dogs). If you want some real food, give up the smokes.

[Captain X]

What you do is date/marry with someone who has a good job then problem solved

and or work for someone who knows the cost of living has gone through the roof and has raised the wages accordingly

Here my salary over the last 3 years

2500/month
3000/month after 6 months
3600/month year 2
4122/month year 3


If every operator out there would stop undercutting one another and set a "standard rate of charge" for their aircraft then everyone would be able to live comfortably.

I feel for the guys and gals who are struggling out there right now. I know what it was like to live off of 1200/month!

[Adam Oke]

I used to always wonder how much is costs to live. Move out and you learn realy quick how to manage money responsibly. I always have and was taught well about money managment as I am living comfortably. As for comments on $300 for food ... it's done quite easily and I'm not talking about KD either. Bottom shelf shopping, bulk purchases, no name brands, not eating out ... simple. Also easily able to purchase steak, chicken, chops etc. Learn how to shop and you'll save big bucks.

I've got a budget made on excel and here are some numbers off it. All rounded UP to the nearest 5 or 10

Housing
Rent: $400
Hydro: $50
Phone: $50

Transportation
Insurance: $225
Fuel: $100
Maintenance: $25
Other: $10

Food
Groceries: $300

Personal Care
Hygene: $5
Loan: $400

Loan
Personal: $400

Taxes
Federal: $240
Provincial: $125
CPP: $110
EI: $50

Monthly Projected Cost: $2090

I do not carry a loan right now ... but it's in there as a buffer for everything else and to show monthly payments I can afford (give or take)

Taxes were from my $2000/month income in the past.

[Captain X]

Transportation

Fuel: $100

Personal Care
Hygene: $5
Loan: $400

Loan
Personal: $400

Dude where do you drive even in a honda civic for $100 a month

I sure its a Typo but Personal Care Loan?? for a collagen lip injections perhaps

$5 for Personal hygiene!!! 4 bars of soap a toothbrush and toothpaste cost more than that.... better skip on the rubbers better yet recycle the ones you find on hooker alley

[Mr. North]

Smokes $300

You would feel much better financially and physically if you cut out the above burden.

[sky's the limit]

Net Income: $6500/month

Hookers: $2000/month

Blow:$4500/month

Hygiene: $0



This is a little more indicative of the average Oil Patch worker.....

stl

[Adam Oke]

Transportation

Fuel: $100

Personal Care
Hygene: $5
Loan: $400

Loan
Personal: $400

Dude where do you drive even in a honda civic for $100 a month

I sure its a Typo but Personal Care Loan?? for a collagen lip injections perhaps

$5 for Personal hygiene!!! 4 bars of soap a toothbrush and toothpaste cost more than that.... better skip on the rubbers better yet recycle the ones you find on hooker alley

Dude I drive a 1.8L and you don't require 4 bars of soap a month....nor do you require 4 bars of toothpaste a month....I have ZeRO loan thus the $400 covers a significant amount that I may have missed........do the math chaps....

[grimey]

Dude I drive a 1.8L and you don't require 4 bars of soap a month....nor do you require 4 bars of toothpaste a month....I have ZeRO loan thus the $400 covers a significant amount that I may have missed........do the math chaps....

Your toothpaste comes in bars? Does it taste like Irish Spring?

[Dust Devil]

Net Income: $6500/month

Hookers: $2000/month

Blow:$4500/month

Hygiene: $0



This is a little more indicative of the average Oil Patch worker.....

stl

You can usually include a decent truck payment. I'd take $500 off of hookers and blow to drop $1000 on a decent truck.

[1000 HP]

Come on, there are no breaks on pick-ups right now, try $1100 per month before the lift kit

[2R]

Once the big wheels are bolted on the miles per gallon becomes yards per gallon

[raven54]

When it costs 50 bones to gas up my corolla, I have a hard time believing anyone can budget only $100 per month on gas. I also have to power the lawnmower/motorcycle/etc . Also, eating well can be expensive, but buying locally at farmers markets etc can help.

[seniorpumpkin]

[Dust Devil]

When it costs 50 bones to gas up my corolla, I have a hard time believing anyone can budget only $100 per month on gas. I also have to power the lawnmower/motorcycle/etc . Also, eating well can be expensive, but buying locally at farmers markets etc can help.

Christ my truck is $170 to fill right now. Oh well I'll grin and bear it.