There are many reasons young adults choose a different approach to building their lives. According to our ChangeShapers, middle class jobs that pay decent wages are more scarce; thanks to the Internet, young adults are better connected to the world than the generations that came before and; quite frankly, they simply choose to live differently, work differently and have different priorities than their parents. So we (we being the young Coaches of Libro) thought we'd look into where the best place for a YOLO (you only live once) lifestyle might be. Here's what we found so far; we need your help to fill in a few blanks.
That seems to make southwestern Ontario an easy choice. Even in KW where the GTA impacts costs more, the savings are profound. And that adds up to a lot more YOLO flexibility. Here are the hard numbers.
Most of the numbers in the infographic above are from between 2014 and now - but the relationships between the numbers have stayed relatively consistent. This seems to indicate you can make more money in southwestern Ontario, use less of it to purchase a home (rents are far lower too), spend a little less of your monthly take-home pay on daycare if YOLO includes a little family addition and spend about 100 minutes per week less in your car (which means more time in your garden or hanging out with friends).
Add your numbers to ours...
What comparison numbers would you like see? Cost of a dinner out? Average attained education, cost of joining a recreational hockey league or yoga classes and fitness classes? Send us your numbers and we'll try to find some comparisons. Even better, ask your friends in the GTA what their costs are, do the comparisons yourself and let us know how it worked out.
Choosing your own lifestyle can't be a bad thing. It's even better when you figure out how to pay for it while dealing with old student debts, small business start up costs, travel expenses and so on. At Libro, we call this Prosperity Planning - your choices and priorities are what matter, YOLO or any other lifestyle included. Any time you'd like to chat about that is good by us.
Thanks from the Young Coaches of Libro Credit Union.