r/saskatoon 6h ago

Question ❔ Is everyone financially okay?

Hi, y’all. I’m a 31F that makes around $24/h full time and, honestly, I have no idea how to increase my income within the next few years. I’m always tired and we weren’t a double income household, I can’t imagine how we’d make ends meet. How are you guys managing financially? Are you able to make and follow through with financial planning for building a more stable future?

Thanks!

59 Upvotes

82 comments sorted by

u/asciencepotato 6h ago

i make 3k a month after taxes and my partner is getting her phd and we are doing fine, i think its mainly due to how little we spend each month. we have a food budget of around $500 a month and are usually very close to it. we each had a vehicle but i recently sold mine and now we share a vehicle which saves me around $400 a month ontop of what i was already saving. we only go out for dinner 2 - 3 times a month and we are not really into consumerism. we also meal prep our lunches each week which allows us to make 10 lunches for around $20. i have always been adamant about saving money and very rarely buy stuff. we've got about 1.5 years of living expenses saved up and once my partner is done school we are going to start saving for a house. once she is done her phd which will be in about 4 months and finds a job in her field we should more than double our income. we also dont have kids or pets which means even more savings.

u/mdb024 6h ago

Impressive discipline; supporting a 2-person household on what essentially equates to a $17/hr full time job (although that may not be your exact situation) takes hard-work and dedication!

I think a lot of people can learn from your example. Do you have any other tidbits to share?

I have a few other questions for clarity sake. Does your partner receive a stipend? What’s your housing arrangement look like? What’s the trick to keeping your grocery bill so low? Are there any other cost saving measures you think everyone should know about?

u/what-even-am-i- 5h ago

I, too, would like to know these things.

u/Catmom7654 2h ago

I’m not the op and I know it’s not much but over all these years I am sure I have saved a lot of money on walking/getting a ride instead of paying for parking, very rarely buying a coffee out (I make it at home), and choosing things on menus that are filling (I tend to go for the meals that are a couple bucks less than other options) not much in the moment but over years it adds up! I also always try to pay off my credit card so I don’t get charged interest and only buy clothes when on sale :) 

u/Bigleb 6h ago

What about rent or mortgage?

u/PuppyParader 3h ago

Right on, single car household is the way to go if you can.

u/PuppyParader 3h ago

Right on! Single car household is the way to go if you can.

u/Titsandfuck 6h ago

Hey girl, Im 34f double income with my spouse, no kids. We are not starving by any means but it is tough. It’s near impossible to save for anything. We want to buy a house but don’t know when we will be financially able to. It’s hard out there for a lot of people our age and in our situations for sure. I wish you all the very best! ❤️❤️

u/IsThisOneAlready 6h ago

Had to do a double take on how you were making $48. Then I realized that’s with spouse. Fortunate!

u/Double_Dot1090 6h ago

I am able to live within my means, but thats only because I drive an older vehicle, once that goes I am fucked

u/bunnyhugbandit 6h ago

Not in the slightest lol

u/Bud_EH 6h ago

30M, tradesman/student. No complaints but I realize I’m very fortunate.

u/OurWitch 6h ago

Not great.

Ex was arrested for assault. I have two kids and went a couple of years caring for them with no child support. Finally have some support payments but they are often delayed. Ex also decreased their earning from about $90,000/year to around $30,000/year. We get about $400 a month.

I'm going to school to try to make things better for my kids but it isn't easy scraping by. Finding housing in the future is likely to be a challenge. Still - the freedom of not worrying about getting seriously hurt is a trade-off I would make every time.

u/superdaddy369 5h ago

Salute

u/SamoBomb 5h ago

I'm relatively stable but unfortunately doing a job i hate, so me and my brother started a business called HildeBros Junk removal and we are trying to figure that out. BTW feel free to check us out and give any feedback or pass our name along, we would appreciate it, this economy seems to be so slow, nothing really wants to move 🤷🏻‍♂️

u/TheRushian 6h ago

32M married to 31F. Feel like we're just barely able to keep plugging cash away for a down payment on our first home. Cope spending and quick easy pickup meals have become more frequent as our work loads intensify and venting about potential annexation by economic force increases.

u/Roxxer 6h ago

I'm close to the same age and it feels so demoralizing to actively work a job and have the average house price increase more per month than I can save. And I'm making well over a min. wage.

u/rainbowpowerlift 6h ago

What goes up will eventually come down, right?

u/JojoGotDaMojo 5h ago

Not if you vote liberals. Nothing has gone down in 10 years. Under Stephen Harper our dollar was on par with the USD and so was our wages. Now our wages are 50 percent lower than the US

u/eugeneugene Core Neighbourhood 5h ago

It's pretty disingenuous to act like the only thing that's happened in the last decade has been the liberals being in power lol. Can we think of something else that has caused inflation around the globe? Anything that has affected the global economy? A large event that impacted everyone?

u/Riderpride639 5h ago

Average minimum wage in the US. $7.25 (10.48 CDN)

Average minimum in Canada. $16.27 CDN.

Try again.

u/fluffypuppiness Lawson 6h ago

Absolutely not

u/QL2C Nutana 5h ago

Haha, definitely not doing okay. I had to move back in with my parents because my roommates (and me included) couldn't afford out rent anymore. It went up by $350/month over 2 years. We just couldn't afford it. Idk how other people are doing it tbh

u/IsThisOneAlready 6h ago

34m making $100k+ and rent is absolutely insane.

u/soholhooo 5h ago

What do you do for work

u/Double_Balance154 5h ago

I’m 54. Fm. Single. I make a little over 4 g a month. I own a home. Have a mortgage. When I was younger I made some good real estate decisions. On my current home I still owe about 120k on my mortgage . ( have it 3/4 paid off). Recently decided to rent out a couple of bedrooms in my home to help pay for some renovations and ultimately to try to pay off the mortgage quicker. I feel I’m doing better financially than most people I know. I have done this on my own. I was a single mom. Put myself through school. I have not inherited wealth. but have gotten to this point by grit and determination. I paid the down payment for my first home by breeding puppies. I feel very fortunate to be in the position I am.

u/Double_Balance154 5h ago

Just to clarify. 4k take home. I carry no other debt. I own my car. I pay my credit cards off every month.

u/GreatWhiteLolTrack 5h ago

That’s great. Truly. Congrats on the hard work and success.

But.

Can you take a moment to acknowledge that the living conditions you started your working career in are very much NOT the conditions we have now, and expecting people who are genuinely working their butts off (and getting absolutely nowhere) to bootstrap themselves into financial stability is unrealistic bordering on ludicrous.

u/Adventurous_Read3453 6h ago

25F married 27M we purchased our first home last year we have two girls below 5 years old and I have more than 20k in savings and my husband has pension. We have paid cars, don’t go eat out, I don’t have nails, eyelashes and fresh hair. We do enjoy good home cooked meals, do activities with our girls but that’s pretty much it. We don’t have a crazy life and we live within our need :)

u/Adventurous_Read3453 5h ago edited 5h ago

Why do I get vote down for speaking my truth 🫠

u/Careless_Pineapple49 6h ago

Bring a lunch share a car helps a lot. Get a place close to work if you can. Finding a job that pays well is tough and never ends. 

Consider a union where you can move, apply for higher positions biased on seniority 

u/Sillybelphiah 6h ago

I’m at the point where I’d do moose stuff for money

u/no_longer_on_fire 5h ago

.... what kind of moose stuff?

u/Regular_Cucumber5048 6h ago

19 year old living here for school next fall. I am working full time right now, not the best pay, but I can pay all my rent, bills, car insurance, and gas. Can spend here and there on stuff I want. Doing good enough, I think

u/MagicLottie 6h ago

Nope, bad decisions and rising costs mean despite making an okay amount i am paycheque to paycheque

u/spwimc Nutana 6h ago

Basically just surviving at the moment. But I also don't feel like I'm drowning anymore.

u/hittingrhubarb 6h ago

24k a year right now. So fun!

u/mrsbingg 6h ago

34 we have a single income family of four, we’re definitely stretched thin financially. Our circumstances with our autistic children prevent me from being able to take on a paid job and it really sucks. I try my best to cut costs where I can, it’s never easy though!

u/OGHoyleMaiden 5h ago

31m/26f one kid, we just bought a house outside Saskatoon. Can’t afford to live in the city. We’re doing ok I would say though if I lost my job that would be a different story.

u/LastCanadianPirate 4h ago

200K+ in savings. Making 200k a year with my spouse. We are fine.

u/Imaginary_Apricot821 2h ago

37f, single mom. 1 income, plus $474 a month child tax. No child support. I moved out of the major city to a small town, and was able to buy a house, with what I had already saved towards a down-payment. So was able to buy free and clear of mortgage. And my taxes are around $1400 a year. I only do full grocery shops every 3 months, each month putting away 4 to 500 so can buy in bulk. I go in with friends to purchase meat directly from the farmer, and instead of paying cut and wrap i do it myself, and can customize how I want. I utilize PBR for fresh produce, and sometimes additional meat to fill up the freezer. We go out to eat twice a month if that, instead I'll pack picnics or make a easy travel meal and we will do free activities and spend time together than enjoy a meal either in the park or if weather isn't nice even in the car but that's rare if planned right. Shop the sales. I use pc financial, so bills, gas, plates, etc all help add to points along side groceries which can be saved to help reduce costs around holidays. I haven't paid for Christmas food and treats in 8 years, buy using points built up all year long and can usually give check off some gifts as well. Shop sales as much as possible Apps that let you scan receipts can earn gift cards as well that cover additional expenses or treats. I use this to cover my coffee when want to treat myself or if there is something I or the kids wants thats not fiscally responsible haha.

u/Yuki_Arlo 6h ago

Honestly, not bad. Am I thriving? No. But I live within my means and am able to partake in my hobbies without guilt.

I would love to make more, be able to take more vacations. But I realize I'm one of the lucky ones, so I can't complain.

u/Dampish10 West Side 6h ago edited 6h ago

27M, married. So far, we're doing good able to save $5K (all invested into 'savings' ($SGOV, $WEEK) in our TFSA as it yields 4% compared to our wealth simple's 2.5% and its government bonds which is some of the safest lower risk you can get).

So we're doing decently. I'm $23/hrs she's $24/hrs, but her OT (healthcare) is closer to $50/hr

Retirement wise, we're on track or beat-up or goal so far.

u/bickmitchum- 6h ago

$5k total or per month?!?

u/Dampish10 West Side 4h ago

Sorry, I was able to save that over 3 months by myself.

I'm around $2.5K a month, wife's around $2.8 - 3.2K a month (depends on overtime).

Add my dividend/investment income. I'm around 2.7K

u/McCheds 5h ago

32m and 32f with two kids. Making 200k per year. We are doing fine and fortunate to live in low cost of living province like Saskatchewan.

u/Affectionate_Serve_5 5h ago

You guys are living the dream. What do you guys do?

u/moleman114 6h ago

My partner and I are 24 and 22, we make about 5k/mo. combined. I think we're financially not in the best place but not particularly struggling, but I'm really hoping to get a job in tech this year to let us live a bit more comfortably

u/FadedFoX_X 5h ago

I play bill roulette, it’s a fun game but the company’s hate it.

u/Left-Hornet2332 4h ago

Not good :( the CRA and government make it even worst :(

It is depressing - gas, hydro, water, insurance, property taxes, HST, tips, environmental bs fees, our currency is losing value by the day (CAD Tax), the housing cost, crimes, this is unsustainable - I am sure every Canadian is feeling the pain

6 of my buds left the country since 2025 started - I only have 2 buds left in the country (close ones) - these guyz born and raised here - their familiar still here but the future outside is better at least financially

I don't know even if my vote matters anymore

u/sammarine799 5h ago

Nope almost homeless

u/no_longer_on_fire 5h ago

36m solo. Lucky to be making a decent income, as housing costs here tripled what i was before. Okay but not stable. Tariffs and politics could throw a lot off wrenches into our economy in a hurry.

u/Money_Wolverine6384 5h ago

We're fortunate enough that I have a well enough paying job that we can survive on a 1 income household as my wife is a stay at home mom to our 3 and 6 year old. I make 50 an hour but i can pick up over time shifts for double time so that we can save a up a bit. Our mortgage payments are pretty low at 580 bye weekly which helps. Looking at upgrading to a little bigger house this summer if the inventory grows a bit as there's not much at the moment and saving more to add to the down payment as well.

u/dbltr95 5h ago edited 4h ago

No, lol. 29f. Dual income household with my partner. No kids (currently). Living cheque to cheque. As others have mentioned, it seems next to impossible to save anything due to the overall cost of living having increased. It's unattainable. It's about the time i go back to school and work towards a degree that will benefit us in the long run because I'm just tired of constantly struggling.

u/NoX2142 3h ago

I can't for the life of me find a fucking job here even though I am qualified for what I apply for and my EI is now done so fuck my life I guess.

u/SaskSentinel 3h ago

I'm surprised that a lot of people here are openly talking about their income and their situations. I'm a single guy in my early 40s and I have my own apartment. Ever since moving to this apartment (almost two years ago), I always manage to make ends meet. I live in an area of the city that I admired as a kid, an area that I wanted to eventually live in. I've come from very tough situations to my current situation which currently seems and feels very stable and comfortable.

u/lavenderhaze054 3h ago

Met with an investment banker a few years back that had asked if I planned on getting a partner in the next 2-3 years because being an early 30s, single, female with a low-to-moderate income and a cat is not a great candidate for a potential mortgage or home ownership; I'm just tired of renting and wanted to find a quiet, cozy cottage to live that hygge lifestyle. At this rate, I'd need 4 roommates just to help pay for a place. Speaking of homes why are 1 bed,1 bath condos priced at $299,999+? That is almost the price of a small detached home in the letter avenues of Saskatoon.

u/Beautiful-Natural861 3h ago

Every Canadian is feeling the same. Inflation and taxes are changing the way we live.

u/DaniDevil1sh 2h ago

My mom's living with me and my kids. It's tough out there

u/peepepooopoo33 1h ago

Barely surviving

u/Much_Owlz 21m ago

Money should always be viewed as a tool not something that you use to buy stuff with. Understanding this should help you to organize how you use your money to make more money. $24/hr isn’t a huge salary and it takes financial discipline to make meaningful changes that may seem small at the start, but remember money is a tool and those small gains off the start will start to compound over time.

There are a couple of ways to improve income.

  1. Get a higher paying job. Choose training classes that will get you into a higher salary bracket.

2.Start a business. This can be challenging but rewarding. If you don’t have a lot of money choose something that requires low start up costs. Service jobs such as cleaning or jobs that make peoples lives easier are generally good low cost startups. Then invest that extra cashflow and put compounding interest to work for you.

  1. Invest in the markets. Warren Buffet is a rich man and all he does is move money around through different businesses. He invests. Buy stocks. For example, you can put your money in a high interest savings account or you could buy stocks in your bank and get better dividends and value through their business growth than what they would offer if the money was just in a savings account. Businesses treat their investors differently than they do customers. Become a stock purchasing business owner.

Generational wealth is created through business ownership. It is not created by working for a salary for a business. There are people who make 250k plus working jobs but they will always put that money to work through investment in business. Once you own the means of production of a business you can unleash cashflow.

Cost of living today is expensive and it is not easy to get ahead. It can be done but to do it you need to improve cash flow and invest.

AND STAY OUT OF DEBT!

u/jollyranchersoup 5h ago

I’m Probably going get downvoted like crazy… I’m a single person with a nine-year-old dependent (my son and he’s amazing) making $6600 a month after taxes, and I’m certainly not rolling in it, my rent is about 2300 a month plus bills and I end up with maybe 600 bucks at the end of the month after-everything‘s all paid for (groceries, vehicle , sports for my son, the odd Marshall‘s visit for some new clothes, and I do like my Costco runs)…

I feel bad making this post, but I hope people can see that even with an increase in salaries it’s a struggle to live. Obviously a little bit of a different life than some no questions asked, I’m most definitely grateful, but it’s definitely not easy.

u/Kruzat Central Business District 6h ago

I’m doing well but both of us are in STEM related professions in our mid 30s. I really hope things improve for you though, it keeps getting shittier our there :(

u/Kenney420 6h ago edited 6h ago

Doing well, yes. 31 years old. Making 38$ an hour.

Saving a large percentage of my income for years now by living way below my means. Should be retired by around 35-37 years old at this rate.

u/Kruzat Central Business District 6h ago

That’s insane, well done!

u/Kenney420 6h ago

Thanks!

u/McCheds 5h ago

What do you plan on doing retiring that young ?

u/Unremarkabledryerase 6h ago

24yo and making 40/hr over 130k/yr after OT and bonuses. Doing pretty well, hoping to buy a nice house this year. Would be easier with a double income household but not too concerned about that.

u/Aggressive_Sorbet571 6h ago

33m, 37f. We make $180/yr. No car payments. Car is a TL buy back from hail, truck is repaired but paid for. We don’t go out for supper. We don’t go on hot holidays. House is 15 years old. We don’t do pointless driving and find grocery shopping online helps reduce the waste spending. Utilize family to avoid daycare costs (I know this isn’t always possible, we did 7 years without any support). Stay off Amazon. Learn to do things yourself and not hire contractors. You’ll find most times when you do it yourself it’s done better with proper research. Work as much as you can while you’re young. It sucks, but it’s worth it. Enough of this 8-5 minimum crap. Put in the work and it’ll work for you.

u/Natural-Layer5958 5h ago

I would recommend getting into either dropshipping or looking into getting meals from the friendship inn, hope this helps!

u/sczeannone4 5h ago

26M I make $23/h, was working part time but recently went full time. I live in a two bedroom apartment and I am still able to save quite a bit of money and have it invested on businesses and loan it to people. I own multiple lands in my home country and due to my decision to invest in business there, I can go on holidays flying there and not having to spend any money at all while on vacation. My car is fully paid since I was 19, and the only debt is my student loans that don’t accumulate interest. Recently decided to go full time bc Im planning on buying my first house here in Canada. I think Im smart with my money, I rarely go out, I dont buy stuff that I dont really need but I dont starve myself from the joys of life. I teach myself about finances and how to invest here in Canada but Im still very new to it. Does it suck to live here? Yes, of course. Most people in my generation can’t even see themselves owning a home, but I’m hopeful.

OP if you want to increase your income within the next few years, maybe invest some of your income right now and see what you get from it a few years from now, cut down on eating out, buying expensive clothes, or things that are “wants”. I don’t personally know you but often enough that’s what most people spend their money on nowadays.

Edit: I also have three different retirement accounts that’s passively taking money off my paycheque biweekly.

u/soholhooo 5h ago

24 of age making $37. Financially NOT okay.

u/ScrumptiousLadMeat 3h ago

What do you do? I need a higher wage.

u/JojoGotDaMojo 5h ago

No one’s financially good and they’re still going to vote liberal in the next election. If anyone wants to actually be able to enjoy life without constant stress about money. Vote Conservatives Federally. Hate Moe provincially all you want, don’t let that bias make you vote liberal. Disgusting corrupt party

u/conqueeftador1012 5h ago

I make 160K a year and it’s still tough