Can I Afford It?
Canadian Life Planner
Pick your biggest financial question. Every card links to the right Canadian calculator with context for your situation — housing, family, career, retirement. Based on real 2026 Canadian numbers.
How these affordability tools work
Every calculator uses Canadian-specific rules — provincial tax brackets, OSFI stress test, Canadian semi-annual mortgage compounding, CMHC insurance rules, and 2026 data. Not adapted from US tools.
These calculators use the official formulas — CRA's CCB formula, ESDC's EI best-weeks formula, OSFI's GDS/TDS limits. Where numbers depend on your personal situation, we show you the full range and let you input your specifics.
Every tool is free, runs in your browser, and requires no account or email. Your numbers are never stored or transmitted anywhere. Just open the tool and get your answer in seconds.
Common affordability questions
How much do I need to earn to afford a house in Canada?
Using the OSFI stress test with a 5% down payment on a $700,000 home (near the national average), you'd need roughly $130,000–$145,000 in combined household gross income to qualify with minimal other debt. At 20% down, the required income drops to around $115,000–$125,000. Use the Home Affordability Calculator for your specific situation — income, debts, province, and down payment all matter significantly.
Can I afford to have a baby on EI maternity leave?
EI maternity benefits replace 55% of your insurable earnings up to $729/week. At $80,000/year ($1,538/week), you'd receive $729/week — not 55% because you've hit the cap. That's about $38,000/year or $3,160/month before tax. Many people find the gap between their salary and EI challenging. Check whether your employer offers a top-up, and factor in the Canada Child Benefit (tax-free, up to $7,997/year per child under 6) as additional income.
What's the minimum salary to live comfortably in Toronto?
Based on 2026 data: a single person renting a 1-bedroom in Toronto (average $2,400/month) needs roughly $65,000–$75,000 gross to be comfortable (spending under 35% of income on rent). A couple with one child needs $110,000–$130,000 combined. These numbers have increased significantly in recent years. The Cost of Living calculator lets you see this breakdown city by city.
How much should my emergency fund be in Canada?
The standard recommendation is 3 months of expenses for people with stable employment in low cost-of-living areas, up to 6 months for those in contract or unstable employment, or high cost-of-living cities. With Canadian EI providing income replacement after the 1-week waiting period, the 3-month baseline is somewhat offset — but EI doesn't start immediately and only covers up to $729/week.