This Etobicoke couple makes $157,000 a year. How do they spend it?
“His income goes to savings, mine to everyday spending”
Who: Marion Rana, 31, and Jarelle Gabison, 34
What he does: Apprentice electrician
What she does: Marketing manager at a tech company
What they make: $157,000 combined
Where they live: A one-bedroom condo near Bloor and Islington
Rent: $2,200 a month. “We recently moved from Mississauga to shorten our commutes,” says Marion. “Jarelle’s office is now a 10-minute bus ride away, and we’re close to the Gardiner and the 427, so for me, getting to work is a breeze.”
Internet: $54 a month. “We were paying over $100, but we recently got a deal with Fido,” Marion says.
Phone: $124 a month, combined. “Jarelle’s phone is mostly covered by her work, so the majority of the bill is my plan,” Marion says.
Groceries: $550 a month. “Cooking every day comes naturally to us,” says Jarelle. “We try to combat inflation by shopping in bulk at Costco and freezing things.”
RRSP and TFSA: $2,500 a month. “I’m currently earning more than Marion,” Jarelle says. “To be equitable, we assign most of his monthly income to investments and savings while mine goes to everyday spending, bills and debt. I provide for the present, and he provides for the future.”
Emergency fund: $310 a month. “This allows us a safety net for unexpected costs.”
Kitchen island: $300 from Wayfair. “Our new place has a galley kitchen, essentially a hallway,” Marion says. “Having a dining table would be too much, but the island adds counter space and gives us a place to eat.”
Counter stools: $420 from EQ3. “We happened upon them at The Bay, and they matched the kitchen island perfectly,” says Jarelle. “I couldn’t get them out of my head—they were so beautiful.”