This Liberty Village couple makes $279,000 a year. How do they spend it?
“We’re on a variable mortgage, but so far we’re not worried”
Who: Ginette Nguyen, 29, and Michael Nguyen, 33
What they do: She’s a senior analyst at a consulting firm; he’s a manager at a hospital as well as a nursing instructor
What they make: $278,934 combined
Where they live: A one-bedroom condo in Liberty Village with their golden retriever, Harlo
Regular Expenses
Mortgage: $2,500 a month. “It’s a variable mortgage,” Michael says, “but we’re not worried. We have an emergency fund in case we need to increase our monthly payments.”
Condo fees: $450 a month.
Cell: $145 a month. “Work subsidizes half of my phone bill,” says Ginette. “I’m with Telus, and Michael is on a friend’s business plan with Rogers.”
More Toronto Budgets
Internet: $55 a month for Beanfield. “It’s pretty fast,” Ginette says. “Michael uses it a lot for virtual nursing. He does about five remote shifts a week, while I work from home once a week.”
Hydro: $60 a month. “Our building runs on a heat pump, so we’re not relying on natural gas,” says Ginette.
Groceries: $500 a month. “Usually I cook and Ginette does the dishes,” says Michael.
Dining out: $400 a month. “We have a date night every Tuesday or Thursday. We like Lee Restaurant a lot—the cheeseburger spring roll is my favourite,” Ginette says.
Bike Share Toronto: $80 a year. “I bike to work every day, which takes about 12 minutes,” says Michael. “It’s faster and more convenient than the TTC.”
Car: $3,110 a month. “This includes payments, parking, gas and insurance,” Ginette says. “I drive to Ancaster for work. We also use the car to visit my parents in Vaughan once a week and to see Michael’s sister, who lives near the Distillery District.”
Pet care: $954 a month. “Harlo has a serious heart murmur,” says Michael. “It was a pre-existing condition, so our pet insurance doesn’t cover it.”
Subscriptions: $94 a month. “This is all for streaming—we love horror, crime and exposés,” Ginette says.
OSAP: $400 a month. “Currently, my student loans are interest free,” says Ginette. “We’ll pay the balance off after our wedding.”
Savings
Wedding fund: $2,900 a month. “We got married at city hall in 2023, but we’re hosting our Catholic ceremony in Rome,” Michael says. “Half of the guests will stay at a spa in the Dolomites with us post-wedding. The whole trip will cost us about $70,000.”
RRSP: $1,200 a month.
Emergency fund: $1,000 a month. “This could be for Harlo, a future recession—whatever might come our way,” says Michael. “We like to be prepared.”
Recent Splurges
Bathroom renovation: $1,750. “We got a new vanity, mirror, towel rack and door knobs,” Ginette says.
![](http://www.facebook.com/sharer.php?u=https://torontolife.com/city/cost-of-living-liberty-village-couple-budget/&title=This Liberty Village couple makes $279,000 a year. How do they spend it?&picture=https://torontolife.com/wp-content/uploads/2024/01/Michael-Nguyen-COS-1-2000x1333.jpg&description=
Who: Ginette Nguyen, 29, and Michael Nguyen, 33
What they do: She’s a senior analyst at a consulting firm; he’s a manager at a hospital as well as a nursing instructor
What they make: $278,934 combined
Where they live: A one-bedroom condo in Liberty Village with their golden retriever, Harlo
Regular Expenses
Mortgage: $2,500 a month. “It’s a variable mortgage,” Michael says, “but we’re not worried. We have an emergency fund in case we need to increase our monthly payments.”
Condo fees: $450 a month.
Cell: $145 a month. “Work subsidizes half of my phone bill,” says Ginette. “I’m with Telus, and Michael is on a friend’s business plan with Rogers.”
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Internet: $55 a month for Beanfield. “It’s pretty fast,” Ginette says. “Michael uses it a lot for virtual nursing. He does about five remote shifts a week, while I work from home once a week.”
Hydro: $60 a month. “Our building runs on a heat pump, so we’re not relying on natural gas,” says Ginette.
Groceries: $500 a month. “Usually I cook and Ginette does the dishes,” says Michael.
Dining out: $400 a month. “We have a date night every Tuesday or Thursday. We like Lee Restaurant a lot—the cheeseburger spring roll is my favourite,” Ginette says.
Bike Share Toronto: $80 a year. “I bike to work every day, which takes about 12 minutes,” says Michael. “It’s faster and more convenient than the TTC.”
Car: $3,110 a month. “This includes payments, parking, gas and insurance,” Ginette says. “I drive to Ancaster for work. We also use the car to visit my parents in Vaughan once a week and to see Michael’s sister, who lives near the Distillery District.”
Pet care: $954 a month. “Harlo has a serious heart murmur,” says Michael. “It was a pre-existing condition, so our pet insurance doesn’t cover it.”
Subscriptions: $94 a month. “This is all for streaming—we love horror, crime and exposés,” Ginette says.
OSAP: $400 a month. “Currently, my student loans are interest free,” says Ginette. “We’ll pay the balance off after our wedding.”
Savings
Wedding fund: $2,900 a month. “We got married at city hall in 2023, but we’re hosting our Catholic ceremony in Rome,” Michael says. “Half of the guests will stay at a spa in the Dolomites with us post-wedding. The whole trip will cost us about $70,000.”
RRSP: $1,200 a month.
Emergency fund: $1,000 a month. “This could be for Harlo, a future recession—whatever might come our way,” says Michael. “We like to be prepared.”
Recent Splurges
Bathroom renovation: $1,750. “We got a new vanity, mirror, towel rack and door knobs,” Ginette says.){kind=link}