When preparing to study in Canada, it's crucial to budget for arrival costs to ensure a smooth transition. While your first living expense payment from your loan will typically be disbursed into your bank account on the first day of your program (or within 2–3 business days after successful loan activation, if you've arrived late), you’ll need to cover your expenses until then. To avoid financial strain, it’s recommended to bring enough funds for your first month in Canada, even beyond your initial disbursement.
Adding Up the First Month
While the exact expenses vary depending on your city, lifestyle, and personal circumstances, here’s a general idea of what you might encounter:
Transportation Costs
Public Transit Passes: Most cities offer monthly transit passes for buses, subways, or trains (e.g., around $100–$150 CAD)
Food
Groceries: Shopping for basic food items may cost $200–$400 CAD for the month, depending on your diet.
Eating Out: Occasional meals at budget-friendly restaurants or cafés could range from $10–$20 CAD per meal.
Accommodation
Initial Payments: Some landlords require first and last month’s rent upfront, depending on your rental agreement.
Temporary Housing: If you’re staying in a hotel or Airbnb while finalizing permanent accommodation, this can cost $50–$250 CAD per night.
Household Essentials
If your accommodation isn’t fully furnished, you may need to buy basic items like bedding, kitchenware, or toiletries, which could total $100–$300+ CAD.
Communication and Utilities
Mobile Plan Setup: A Canadian SIM card and phone plan could cost $50–$100 CAD to activate.
Internet Fees: If your accommodation doesn’t include internet, expect a monthly charge of $50–$100 CAD.
Incidentals
Miscellaneous expenses, such as personal hygiene products, winter boots, and other unforeseen costs, can add another $50–$100 CAD.
Planning Ahead
Since your first loan disbursement will happen after your arrival to Canada, it is important that you ensure you have enough funds to cover these initial costs. Having the funds mentioned in this article readily available can help you manage immediate expenses and provide peace of mind. Bringing funds for the first month is even better, as it allows you to adjust comfortably with minimal financial stress.
Budgeting carefully for these initial costs ensures a smoother transition into life in Canada, setting you up for academic and personal success. Safe travels!