Living Expenses

Food:

I predict I will eat out once a week, which will cost about $30 a week, or $120 a month.

Rent:

Rent is the listed price of the apartment I have chosen.  This apartment includes electricity, water, and gad.

Savings:

Savings are broken down into 4 things; Car, Wedding, House, and RRSP

Car will cost me $5000 over 5 years, or $84 a month

Wedding will cost me $14000 over 8 years, or $146 a month.

A bungalow will cost me $580333 over 30 years, or $1614 a month

I read that an RRSP is typically 6% of your income.  As an aerospace engineer, I would make $97480 a year.  $97480 a year = $8123 a month.  6% of $8123 = $487 a month.

$84+$146+$1614+$487=$2231

My after tax income would be $71 174.  This is significantly greater than my yearly expenses of $54 672, therefore I will survive!