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Gen Y: The 'Can I Afford to Move Out?' Calculator Add to ...

Just over 42 per cent of Canada's young people aged 20 to 29 lived at home with their parents, according to the latest census data. Can these members of Generation Y accord to move out on their own? This calculator lets you know.

Just over 42 per cent of Canada's young people aged 20 to 29 lived at home with their parents, according to the latest census data. Can these members of Generation Y afford to move out on their own? This calculator lets you know.

The chart below shows how your paycheque is divided each month. Each green circle represents 1 per cent of your income. Enter your yearly income and monthly expenses to see how it's divided.

Yearly income before tax

Your province for income tax rate

The rent you'll pay


Per month. Your rent should be less than 30 per cent of your income.

Debt repayment


Per month. Consider student loans, credit cards and any other debt.

Savings


Per month. It's recommended you save at least 10 per cent of your pay before taxes.


Please enter your yearly income.

100% of your income
Each green circle below represents
one per cent of your income

Where does your money go?

Left over income per month

Approx. income tax per month

Rent per month

Debt repayment per month

Savings per month

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