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This tech entrepreneur makes $200,000 a year. How does he spend it?

By Penn Javdan
This tech entrepreneur makes $200,000 a year. How does he spend it?
Photograph by Ebti Nabag

Who: Alex Ellinas, 39 What he does: He’s a tech entrepreneur and stock investor What he makes: $200,000 a year Where he lives: A two-bedroom condo in Fort York


Regular Expenses

Mortgage: $2,000 a month. “I bought the condo back in 2017, with a $120,000 down payment,” says Alex. “About half of that was from investment income.”

Utilities and condo fees: $520 a month.

Cellphone: $100 a month for unlimited talk and text with Telus.

Cable and internet: $200 a month with Rogers. “This includes some specialty channels such as the NHL package and Crave.”

Insurance: $100 a month for home insurance.

Transportation: $300 a month. “I don’t own a car, so I Uber often.”

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Groceries: $1,000 a month. “For produce and supplements, I shop at Whole Foods and Ambrosia, which are pricey but worth it,” he says. “For everything else, my go-to is Organic Garage.”

Eating out: $750 a month. “I entertain a lot of clients.”

Health and wellness: $400 a month. “I’m a firm believer in self-care, so I spend my money on naturopathy, acupuncture and chiropractic.”

Long-Term Savings

For a house: $2,000 a month. “I’d like more space and peace. In the next two to three years, I plan on buying a house in either Thornhill or Vaughan.”

For an investment property: $1,000 a month. “My brother and I are planning to go in on a rental property, probably a condo. I like the idea of having a low-maintenance income source.”

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What’s your budget? Tell us how you make life in Toronto work at costofliving@torontolife.com

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