How much money do you need to live comfortably in Canada?

It is difficult to provide a specific amount as the cost of living in Canada can vary greatly depending on the location

According to the Canadian government’s “Low-Income Cut-Off” (LICO) measure, a single individual living in a large city would need to earn at least $24,000 per year before taxes to be considered above the low-income threshold. However, this amount does not necessarily represent a comfortable living standard and could be considered a minimum threshold for meeting basic needs.

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To determine how much money you would need to live comfortably in Canada, it is important to consider your own personal financial goals and needs, as well as the specific cost of living in the location where you plan to live. It may be helpful to create a budget and determine your monthly expenses, including any debts or savings goals you may have.

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