A Week In Toronto On A $305,653 Salary

Occupation: Vice president
Industry: Insurance
Age: 40
Location: Toronto, Ontario (I moved here from Chicago at the beginning of 2025).
Salary: $305,653, plus bonus (which this year was $198,871 in cash and $132,583 in RSUs. My bonus has fluctuated between $50,000 and what I received this year over the years I have been with this company); rental income for my US condo: $50,340 (USD); housing allowance: $53,775 (each year for the next two years); Cost of Living Adjustment (COLA): $50,328 CAD (each year for the next two years). A quick note about my bonus: I’m aware that it makes a significant difference to my compensation, and I did consider how this could make the title of my diary seem misleading, but it is never guaranteed, so I treat it as just that — a bonus — every year.
Assets: Canadian checking account: $14,567; US checking account: $4,937 (USD); Canadian HYSA: $18,021; US HYSA: $86,954 (USD); US brokerage account: $121,842 (USD); IRA: $382,949 (USD); 401(k): $265,048 (USD); unvested RSUs: $13,210 (USD); condo value: $595,500 (USD) — this is according to Zillow. The assets I’ve listed do not include any of the payout for my bonus mentioned above — that hasn’t cleared my bank account yet.
Debt: Mortgage: $371,033 (USD)
Paycheck Amount (Biweekly): $6,801 — this includes the housing allowance, plus an additional $6,291 every quarter for the COLA; $4,195 (USD) monthly for rental income.
Pronouns: She/her

Monthly Expenses

Housing Costs: Rent: $4,600 for a two-bed (plus den), 2.5-bath condo that includes all utilities (except internet) and a full gym, pool, tennis court.
Loan Payments: $0
Mortgage: $1,881 (USD). The mortgage, additional principal, and HOA are all covered by the rental income, which is $4,195 a month (USD). I make around $75 a month in net income from renting this out.
Additional Principal: $1,219 (USD).
HOA: $1,017 (USD).
Cell Phone: $50 (USD). I pay $90 to our family plan but my company reimburses me $60, which is ~$40 in US dollars.
Internet: $68
Netflix: $26 (USD). My sister pays for Hulu and Disney+ and we get Max for free from our cell phone company — although Max doesn’t work in Canada…
Charity: $50 (USD) — calm down, I give more to charity, but this is what I give monthly to World Central Kitchen and Planned Parenthood.
ESPP: $350
Home Cleaning: $486

Annual Expenses

US Credit Card: $95 (USD).
Monarch Money: $100 (USD).
Duolingo: $93 (USD).
Google Drive: $20 (USD).
NYT Games: $44 (USD).
LTD: $81 
Amazon Prime Canada: $99 (includes DashPass).
Zwift: $196 (USD).
Canadian Credit Card: $120

Was there an expectation for you to attend higher education? Did you participate in any form of higher education? If yes, how did you pay for it?
Yes, absolutely. I am not really sure I ever realized there was a path other than a four-year university. My mom didn’t graduate college until I was in high school, so she was always adamant that we not repeat that. Plus, I was an excellent student, so the path fit. If I could go back and do it now, I would definitely go to community college for a couple of years and/or take a gap year — I was too young and too naïve and really struggled in college. I was fortunate that my parents paid for my schooling and room and board at a public state school. They said if I wanted to go out of state, I would have to pay the difference, so it was a no-brainer to stay in-state. I worked a couple of jobs every year to have spending money and was fortunate to graduate undergrad with no debt. I got my MBA while I was working full time a couple years later. My company at the time paid for 100% of tuition and books, so I was also able to graduate with my master’s with no debt as well.

Growing up, what kind of conversations did you have about money? Did your parent(s)/guardian(s) educate you about finances?
We learned how to balance a checkbook and had savings accounts. The message was always don’t spend more than you have and save as much as possible, but specifics were lacking. They did tell me to put as much as I could into my 401(k) when I started my first adult job, which was very good advice. We now talk more about finances since my parents are nearing retirement. It has been extremely helpful to see their perspective now as well as to know what their financial situation is to make sure they have enough to do what they want/need to in retirement.

What was your first job and why did you get it?
I worked at a gym folding towels and cleaning locker rooms when I was 16. I got a free gym membership, and we had a lot of fun. I got it for spending money and an international student trip I was going on. I mostly used it for Auntie Anne’s pretzels and Abercrombie & Fitch sweatpants.

Did you worry about money growing up?
Worry is a strong term — aware is probably better. My parents divorced when I was very young and split custody. My mom remarried fairly quickly and was well off. We had a nice house, went out to eat, had all the latest gadgets, etc. My dad was single for a long time and was unemployed many times. We lived in a tiny apartment and never had any luxuries. We always had food on the table and were able to do school activities, but it was a strange mindset to have such opposite lifestyles for half the week. My dad remarried when I was in high school, and things evened out much more, and I wasn’t concerned after that.

Do you worry about money now?
Not really. I would like to retire early so I am always concerned I am not putting enough away or that I am doing too much reckless spending. I am prone to anxiety, so I’ve got to have something to worry about! But day to day (and even long term), I know I am in a good spot.

At what age did you become financially responsible for yourself and do you have a financial safety net?
At age 22, when I moved out of my parents’ house. I had a full-time job when I graduated college, but I lived at home for about 10 months (for free, thanks dad!) to save up money. I have a decent amount of savings as a financial safety net. I also know that I would be able to move back in with either set of parents if I needed to.

Do you or have you ever received passive or inherited income? If yes, please explain.
My mom gave me $35,000 to help with the down payment for my first condo. The agreement was that I would pay her back with a percentage of the profit when I sold. However, I sold that condo for a loss, so she told me to just roll the money into a new condo. I also sold that second condo for a loss (buy high, sell low — that’s how real estate works right?!) so she told me to roll the money over again. If I had to guess, she will never make me pay it back. I know she gave my sister some money when she needed it with no expectation of repayment. But I will continue to ask her about it, as I am in a spot to pay her back if she wants me to. I assume we will inherit some money when my parents die, but my wish for them would be to spend everything they’ve got while they can, and I am planning my life as if that is the case. I also just started receiving $50,340 (USD) rental income annually when I rented out my condo after I moved at the beginning of the year. I make very little money off this; the intent was to cover my mortgage and HOA.

12:10 a.m. — I wake up to an awful noise. After a few delirious minutes trying to figure out what is happening, I realize the fire alarm is going off. I know I am supposed to wait for instructions, but I panic trying to decide if I should at least try to corral my cats into their carriers. I walk to all the windows to try to see if I see any smoke or fire and look out in the hallway. Nothing appears to be happening. They finally make an announcement that we should await further instructions (helpful...) so I sit tight, slowly pacing by all the windows to see if I notice any change. They make another announcement saying the fire department is on site and to keep waiting. After about 30 minutes of the alarm blaring every few seconds, the fire department finally makes an announcement that it was an accidental pull, and we can “resume our normal activities”. Like trying to get enough sleep. I finally fall back asleep around 1:30 a.m.

5:45 a.m. — My sunrise alarm starts to brighten, and I immediately shut it off before any noise happens and try to get some more sleep. At 7:30 a.m. I finally decide I must start getting up. I do my NYT games and Duolingo (185-day streak!), and read the news. I finally get out of bed just before 8 a.m. I grab a Diet Coke and decide I am too exhausted from my interrupted sleep to start work yet. I decide to read a couple chapters of my book The Three Lives of Cate Kay. I am almost done and can’t put it down. I also grab my laptop and some papers I need to read and bring them to the couch. I decide today will be a couch working day. I very rarely do this, but it is nice that I have the option when needed. I start my workday covered in a blanket and cats.

9:30 a.m. — I finally get around to making breakfast — a couple pieces of French toast leftover from yesterday. I also fill up my water glass so that I hopefully remember to drink water today. I brush and floss my teeth and wash my face and try to motivate myself to have a productive week. I have a day free of meetings (a rarity) so I try to take advantage of it. I move back to the couch and put on my Normatec compression boots. I have been ramping up my workouts the last month or so and haven’t had much recovery time, so I take advantage of my meeting-free morning to sit in those for a couple hours while I work.

12 p.m. — I have a productive morning responding to emails, reading some technical reports, and finalizing the itinerary and food for a multi-day meeting I am hosting later this week. I finish in my Normatec boots and decide it is time for lunch. I empty the dishwasher and then heat up some leftover pasta I made over the weekend. While I eat (and drink a Diet Coke of course) I read some more of my book. I am so close to the end! I have some fruit snacks for good measure.

1 p.m. — Back to work. I turn on some Parks and Rec in the background and do a little more work for my meeting this week and get through a few other things on my to-do list. I also send some info in for my taxes. My taxes are complicated this year as I have to file in two countries. My company is paying for the tax prep as part of my moving compensation, but it has still been a lot of work to get them everything they need. I drink a Cove orange soda to give myself some energy at some point.

4 p.m. — That’s enough for the day. I make sure my to-do list is in order for tomorrow and shut down my computer. Tomorrow will be an office day, so I make sure my gym bag and work bag are packed. I take some chili out of the freezer to defrost for dinner and head back to my book to finish it. Once I finish that, I heat up some chili and have that with shredded cheese, sour cream, and tortilla chips and a caffeine-free Diet Coke. I watch a few episodes of Schitt’s Creek and heat up a frozen cherry pie and have a (large) slice. After a few more episodes, I take my vitamins, brush my teeth, wash my face and head to bed around 9 p.m. I put on more Parks and Rec and fall asleep by 10 p.m.

6 a.m. — My alarm goes off and I immediately do my NYT puzzles and Duolingo before putting on my workout clothes, grabbing a cheese stick and heading to my personal training appointment at 7 a.m. I paid for 24 sessions a couple weeks ago for $3,100 ($129 per session), so I don’t pay anything today. There is no membership for this facility, you just pay for the sessions. I shower and get ready for work in the locker room and head to the office. I put on brown and black checked pants that are cute work pants, but also elastic waist, with a black tank, black blazer and black ankle boots. I settle into my desk around 8:30 a.m. and check my emails before my first meeting. I have a Diet Coke while I power through meetings up until lunchtime.

12 p.m. — We have a celebratory lunch meeting for a large piece of business we bound a few weeks ago. I get a sushi bento box and some zeppole for dessert. I don’t know how much the bill is because my colleague pays, but for five of us at a pricey restaurant, I imagine it was at least $300 (expensed).

2:15 p.m. — Back at my desk for another hour and it is a parade of people in and out of my office asking questions or chatting. We have another work even tonight, so I leave the office around 3:15 p.m. This time we are going to an escape room ($479, expensed) and then dinner. This is the first time many of my team members have seen each other in person (or I have met them), so it is great to have some team bonding time. I have never been to an escape room before so we will see how it goes!

4:30 p.m. — We escaped! It was fun and did turn out to be a good team building exercise. We head to a local bar/grill for dinner. Since we are so early, it is happy hour. Lots of drinks/mocktails/food and dessert is had by all. I don’t see the bill because my colleague pays, but I imagine it was around $400 (expensed). We chat for a while and then we all leave. I suspect many people decide to go out, but I head home. 

7:30 p.m. — I get home and immediately change into pajamas. I feed my cats and watch a couple episodes of Schitt’s Creek before doing my nightly routine and heading to bed. I fall asleep around 10 p.m.

6 a.m. — My alarm goes off and I snooze it a couple of times. I do my NYT puzzles and Duolingo and finally get up around 6:45 a.m. I brush and floss my teeth, wash my face, brush my hair, get dressed in jeans, a cute white blouse, houndstooth blazer, and black ankle boots and put on a minimal amount of makeup (foundation stick and mascara is about as fancy as I get). I head to the office and get to my desk around 7:30 a.m. I want to get a few things done before meetings the rest of the day. I drink a Diet Coke while I check my emails and prepare some documents for my meetings today.

8:30 a.m. — Our breakfast arrives ($265, expensed) and my team sits and eats together. We start our meeting right at 9 a.m. We have various sessions all day, some guest speakers, but mostly team discussions and trainings to help us have a successful year. This team, more than any other team I have managed, is super engaged and we have a really productive day. 

12 p.m. — Lunch arrives ($295, expensed) and we take a break for an hour before heading back into our meeting for the rest of the afternoon and more productive sessions. My boss calls me into his office during our break to give me my bonus ($198,871 cash and $132,583 RSUs that vest in two years). Because I spent half of last year working for the US and the other half working for Canada, my bonus is very convoluted, and I had no idea what to expect. It is by far the biggest bonus I have received since I have been here (and this company is notorious for excellent bonuses) so needless to say, I am happy! I also receive a 1% raise, which is nice because I just started in August in this role and wasn’t expecting an increase to my salary so soon. 

4:15 p.m. — We finish for the day. Everyone heads back to their desk to do some actual work before we head out to dinner around 5 p.m. We go to an Italian place, and everyone has drinks/mocktails and lots of food and good conversation. Dinner was $975 for 12 people (expensed.) 

8 p.m. — We finish dinner and I head home. I assume most of the rest of the team stays out to have more drinks, but I am fried. I come home, get in pajamas and watch a couple of episodes of Schitt’s Creek. I feed the cats their wet food and some treats since I have been gone so much. I order a new litter mat and some face cleaning wipes from Amazon and head to bed around 9:30 p.m. after washing my face and brushing my teeth. $79.08

6 a.m. — My alarm goes off and I snooze a couple of times, then I do a few NYT games and my Duolingo and get up to take a body shower. I brush and floss my teeth and get dressed in jeans, a sweater, and rain boots, since it appears to be raining outside? I head to the office to do a bit of work before the rest of our team meeting this morning. I go back and forth about taking an Uber but just suck it up and walk. It is starting to turn into snow, which sucks, but is actually a little better for walking than cold rain.

8 a.m. — Our breakfast gets delivered ($268, expensed) and the team slowly trickles in and eats breakfast before our 9 a.m. start. Once everyone is settled, we dive into a few more topics before we conclude at noon. 

12 p.m. — I have box lunches delivered so people can take them and go if they are heading to the airport ($302, expensed). I eat my lunch with the team and then go back to my desk to send out takeaways from our meetings as well as any follow up material I promised. I have two more quick meetings that could have been emails and decide to head home around 4:30 p.m. since my brain hurts. 

5 p.m. — I change and get ready for spin class. I signed up for an introductory month with this studio and this is my last class. I can’t decide if I am going to continue — I like the owner and the spin classes but haven’t really enjoyed any of their other offerings.

6:30 p.m. — I get home from spin class starving. I take a quick body shower, heat up some leftover pasta and turn on Schitt’s Creek to veg out. I finish the NYT games I didn’t get to this morning and eat some leftover cherry pie. At around 9:30 p.m., I do my nightly routine and head to bed. I slept terribly the last few nights, coupled with extremely extroverted days, so I am exhausted and hope I sleep well tonight!

6 a.m. — My alarm goes off and I am not up for getting out of bed. I shut it off and go back to sleep for a bit. Once I am awake, I do my NYT games and Duolingo before getting up to brush and floss my teeth and wash my face. I put on leggings, a workout tank, and sweatshirt along with my gym shoes to get ready for my workouts later. I start a load of laundry, and I have an English muffin and butter for breakfast paired with a Diet Coke, since I am mostly out of food. Once I finish that, I head to my desk and start work.

9 a.m. — Why is Friday so busy? I have two meetings this morning before I head to my personal trainer for another session. I switch my laundry quickly before I go. At around 10:45 a.m. I log off and walk to my PT appointment at 11 a.m. We have a good session, and I know I am going to be sore tomorrow. I head back home and don’t have time for lunch before I have to jump into my 12:30 p.m. therapy session. I grab a cheese stick to hold me over. I was with my old therapist for five years, but since my move from the States, I have had to start with a new one. I thought it was important to find someone right away as I adjust to a new city/country, so I am planning to do monthly sessions. The cost is $190, but I get reimbursed $185 from the Ontario Health Insurance Plan (OHIP) within two days. $5

1:30 p.m. — A woman from TaskRabbit comes to hang all my artwork. This is the last thing I have to do to be fully settled in my new apartment. I have already figured out where I want everything, so I show her what needs to be done and then I do my work while she does hers, answering questions when needed. Once she is all settled and knows what she is doing, I heat up a bowl of chili and grab another Diet Coke. I do a bit more work, have one more meeting and then get myself organized for next week.

4:30 p.m. — I thought three hours would be enough time to get all of my pictures hung, but I grossly underestimated. Since I have to leave, I will have to have her come back another day. It cost $242 for three hours of work and everything looks great so far. I grab my Pilates socks and head out for my Pilates session. I take the bus since I am running late (the bus costs $3.30, but I use my prepaid Presto card). I paid $990 ($99 session) for 10 Pilates sessions a few weeks ago so I pay nothing today. Between this and the strength session, movement tomorrow might be problematic! $242

6:30 p.m. — I get home from Pilates and take a quick shower. I fold my laundry before heating up the last of my leftover spaghetti and have that with a caffeine-free Diet Coke. I should clean up the dust and put the room back in order from the work earlier, but I can’t get myself to do it. Instead, I watch a few more episodes of Schitt’s Creek. I really want some dessert but have nothing left in my house and use every last drop of willpower I have not to order something. I head to bed around 9:30 p.m., exhausted from the week and all my workouts today.

6:15 a.m. — I wake up  with a headache after a horrible night’s sleep. I lay in bed for a while trying to go back to sleep before giving up and doing my NYT games and Duolingo. I finally get out of bed around 7:30 a.m. and move to my couch with a Diet Coke. I decide to watch To Catch A Killer.

9:30 a.m. — I still have a headache, so I grab a cheese stick and see if doing a bit of work helps. I clean up the detritus from yesterday and put my furniture back in order. Once that is done, I start Roomba. I finally break down and take some Excedrin and brush/floss my teeth and wash my face.

11 a.m. — I was planning to go to a new brunch place but it’s pretty far away and it’s super cold out, so I decide to walk to a nearby food hall instead. I get a cheeseburger, Diet Coke and chocolate chip cookie ($21.75). Magically I start feeling better almost immediately. Was it the burger grease or the Excedrin? Who’s to say? On my way out of the food hall, I see a dessert place and impulse buy four cookies for later ($28.06). In case you are keeping track, yes, these four cookies did cost more than my entire lunch. They better be the best cookies I have ever eaten. $49.81

12 p.m. — Now that I’m refueled, I decide to brave the grocery store to stock up for the week. I am going on vacation on Friday, so I don’t need too much. I get berries, Greek yogurt, lunch meat, cereal, and pesto. This small shop doesn’t have any Diet Coke so I will have to stop somewhere else tomorrow. $34.39

1 p.m. — I get home and unload the groceries. Now that all my errands are done, I can settle on the couch for the rest of the day and rot. After scrolling for far too long trying to find something, I finally settle on Enola Holmes 2 since I watched the first one not too long ago. I make sure I’ve got water and a Cove orange soda, so I won’t have to get up for quite some time. I grab a couple of the cookies as a snack and they were definitely excellent cookies! Worth almost $30, not sure, but definitely top notch. I put on Back In Action and continue to rot on the couch covered in cats.

6:15 p.m. — I make some pasta with pesto for dinner and eat while I watch 21. Every time I watch this movie, I am convinced that I can count cards. Spoiler alert: I can’t, but it’s fun to think about being a high roller anyway. I put away my hang dry clothes and give Roomba a quick clean because she worked hard today. Since my day was so taxing, I decide to call it a night early and head to bed around 8:30 p.m. I take my vitamins, wash my face, and brush my teeth. I put on some Parks and Rec and try to fall asleep early.

7:30 a.m. — I woke up at 5 a.m. but was able to sort of fall back asleep. I lay in bed for a few minutes doing my NYT games and Duolingo before getting up. I grab a bowl of cereal (unfortunately I don’t have any hot dogs in my house, otherwise I would have had a couple for breakfast!!) and watch some campervan building videos. I have started thinking about building a van and have become pretty obsessed with the idea (reader please note she has no skills or know how to do such a thing). I should get on my bike trainer and do a ride but I’m not feeling up to it yet.

9:15 a.m. — I decide to go to brunch instead of working out. I brush and floss my teeth and wash my face and put on some fleece leggings and a wool top. It is extremely cold out, so I decide to take the bus part way instead of walking. It is $3.30 but I have money on my prepaid Presto card, so there is no charge today. I walk through Kensington Market on my way to brunch from the bus stop. Nothing is open this early on a Sunday, but I make some notes about places to go back to.

10 a.m. — I sit down to brunch and immediately order a chai latte to warm up and the char sui Benedict. I start a new book, A Killer’s Code, while I eat. The food is delicious and I’m glad I made the effort to come here today. $34.58

10:40 a.m. — I see the streetcar coming so I hop on that and take that back to the bus (both the bus and streetcar are covered by my prepaid Presto card, so no charge for these). The timing works out perfectly for the transfer, which caps off a good morning. I run into the grocery store before heading home to pick up a 12 pack of Diet Coke. Once I get home, I grab the last cold Diet Coke and the rest of the cookies from yesterday and sit on my couch to read some more of my book. $9.59

1 p.m. — I force myself to get up and ride my bike. I do a fitness threshold test since I haven’t been on my bike since I moved. It is the worst, but I am glad I get it out of the way. I watch some episodes of Parks and Rec while I ride. Once I finish that, I take a long Epsom salt bath and read some more then do a hair mask and face mask. Then I do a full shower before moving back to my couch. I have a cherry Coke Zero and spend the rest of the afternoon reading.

5 p.m. — I empty the dishwasher, feed the cats their wet food, heat up the rest of the pasta from last night, and drink a caffeine-free Diet Coke. I spend the rest of the night reading on the couch and am able to finish my book — it was a quick read, but good. One of the benefits of moving to a new city by yourself is you can have a quiet weekend alone without social obligations getting in the way, especially after a really long week. I am sure at some point it will get lonely, and I will wish for built in social connections again, but for right now, I am enjoying the freedom and solitude.

9 p.m. — I quickly check my calendar for the week and add some things to my to-do list before doing my nightly routine and heading to bed. I fall asleep around 10 p.m.

“I wasn’t sure if I should write a diary for a week when I had so many work events expensed, but after looking at my schedule over the past few months, I realized that weeks like these are more common than not. This week was pretty much what I expected. I started getting pretty religious about tracking my spending and net worth a couple of years ago when I decided I wanted to retire no later than 55. I wanted to write another diary after my move to see if my spending habits had changed much. Right now I am trying to balance getting to know a new city with staying within a budget. So far I am managing well, but it is still winter, so once summer comes, I am assuming I will want to get out more. I am looking for things that I can cut down/out that won’t dramatically change my life. Rent seems to be the easiest one — I love the apartment that I found and am not excited to move again, but seeing everything in print does give me something to think about.”