Is 7200$ per month a good salary for a family of 3 (4 year old Kid)?

Show all answers

iritadragon

I would be so lucky to have this!

Yes, this is a VERY good salary. A two bedroom apartment will set you back around $1200 (all inclusive) per month. You will have 4500 after tax dollars to spend. A family of three will only consume about $500 per month in food, even if they are big eaters. This leaves you approximately $1000 per week to spend as you wish.

I could do a whole lot with $1000 per week.

Kara B

well it is good money but do not rent in the core bad neighborhoods but a decent area is in the londondery and clairview locals shop around some spots are rough while maybe two blocks away they can be all right I suggest this area because of the LRT which can have you to work in about 15min

Shannon E

Yes that is very comfortable amounts too live on. Since you are moving here Expenses will be high for the first few months.....so at times it will leave you thinking it isnâ€™t enough.. Donâ€™t worry it will pass.. It takes a good 6 months to get settled from one city to the next... reason I say this is because there are a lot of extra expenses to come your way for a bit.. One of them is Insurance is extremely high anywhere in Alberta, Out of province vehicles need to be inspected (even brand new).

As for food the other person has said... Yes a family of three can eat more then $500 a month on groceries. To eat well it costs you PERIOD. We are a family of 3 and Iâ€™m pregnant. We spend more then $500.00 a month on food and we are NOT fat people, we eat dam good. Buying in bulk is the way to go... That is another reason why more then $500.00 a month is spent in our house hold... Keeping things stocked.... Get a Cosco card it will help.

Also since you work downtown.. Do NOT look for a place in that area when you have kids.. Right now even in Edmonton finding good housing is really hard to get. Also rents are very high too.. Since you will require a larger apartment it will cost you about $1100.00 + a month... You would be almost better off getting a house. Most Nice apartments now donâ€™t include all the utilities... So you are still paying high to hear your neighbors.

I you really want to get an apartment, There are some fantastic 2 story apartments to rent.. Double the space approx 1100 to 1500 sq ft. and doesnâ€™t feel so apartment like. If you are going to rent an apartment DONâ€™T SETTLE, get a good one with a excellent size. Gives everyone there own space and doesnâ€™t feel so cramp. Not much of a price difference either from this style to the norm. Its worth the extra bit a month.

There are some rough spots in Edmonton so look at crime rates and states before making a decision as to where to move. Iâ€™m in my 30â€™s and grew up in Edmonton so I know what Iâ€™m talking about.

Wish you all the best with your move... There are a lot of family activities in this city which is great. Once settled look at some of the sites for fun stuff.

jeremy B

that is enough as long as you dont go nuts with it

happy trails

It is an extremely good salary, but it all depends on your lifestyle. It's more than most people earn. Invest in the future of your child, retirement and if you have a favorie charity or cause that means something to you, be generous!

darlin0043

Yes this is a very good salary. It does not cost all that much to live here in Edmonton as compared to other cities. We are going through a "boom" right now here so the prices are higher then we are used to. This will pass as the last one did in the early 80's, yes apartments are higher and I would suggest if you can get into a townhouse especailly for the child to have room to grow. To me I never even thought about raising my children in an apartment, it is way to small for them to be able to have fun like children do. I recently moved into a two bedroom apt and I did get lucky as my rent is only 675 per month. Most apts are around 800-900 per month with townhouses being about 300-400 higher. It is difficult right now to find available places here in Edmonton so if and when you do come here I would strongly suggest that you have a place to live already in place. Good Luck!!

RaynorShine

You'd be making the equivalent of two blue collar workers income, so you should be fine. Parking is expensive downtown, if your work doesn't cover it, stay close to the LRT line and use the transit system.
If you're able to start a mortgage, it'd be better than renting. Homes here are averaging about a 6% increase every month, with no reprieve in sight.
Our first home more than doubled in value over the past 4 years. We sold it in February and moved into a place with a smaller price tag than what ours sold for. We have now cleared off most of our debts and are living more comfortably.

viewernumber1

great !

Dispachcops

If you cannot live on that amount of money you need to have your head examined. I have provided for a family of 5 on about 50% of that amount in the US. Dont try to keep up with the Jones's and you will have plenty.

raj

Hi from my analysis , it sounds like a good salary. I am also planning ot move to Edmonton. I am married and have a son aged 4. Let me know if you want to keep in touch.

shorty

yes that is an excellant income. Im sure most people would be happy with it.

ckm000

no

i spend $6000 for lunch

Enter Your Message or Comment

User Name:
User Email:
Post a comment: