Canada is a popular destination for people from all over the world, whether they are seeking work, education, or just visiting. Regardless of your reason for coming to Canada, having enough funds to support yourself is crucial. This blog will explain why financial stability is important for foreign workers, students, and visitors, and provide some tips on how to ensure you have enough money for a smooth stay in Canada.


Cost of Living in Canada


The cost of living in Canada can vary greatly depending on the city or province you choose to live in. Major cities like Toronto, Vancouver, and Montreal are significantly more expensive than smaller towns and rural areas, with rent often being three times more expensive in large cities. Here are some key expenses to consider:

  1. Housing: Rent or mortgage payments are typically the biggest expense. In big cities, renting a one-bedroom apartment can cost between CAD 1,200 to CAD 2,500 per month.
  2. Utilities: This includes electricity, heating, cooling, water, and garbage. Expect to pay around CAD 150 to CAD 200 per month.
  3. Food: Groceries for one person can cost around CAD 200 to CAD 300 per month. Eating out can quickly add to your expenses.
  4. Transportation: Public transport is an option in many cities, costing about CAD 100 to CAD 150 per month. If you plan to own a car, consider additional costs for insurance, fuel, and maintenance. Keep in mind that smaller cities and towns may not have effective public transportation, and owning a car may be more practical.
  5. Healthcare: While Canada has a public healthcare system, some services may not be covered. Private health insurance can help cover these extra costs. Employers may contribute to your health costs.


Financial Requirements for Different Categories


Foreign Workers


When you come to Canada as a foreign worker, it's important to have enough funds to cover your initial expenses until you receive your first paycheck. This includes housing, food, transportation, and other daily expenses. Additionally, you may need to pay for work permits and other related fees. Employers might not always provide financial assistance upfront, so being prepared is key.


International Students


International students must show they have enough funds to cover tuition fees and living expenses for themselves and any accompanying family members. This requirement ensures that students can focus on their studies without financial stress. Besides tuition, students should budget for textbooks, school supplies, and other educational costs.


Visitors


Visitors to Canada need to demonstrate that they have enough money to cover their stay, including accommodation, transportation, and other daily expenses. This is particularly important for long-term visitors who plan to stay for several months. Having sufficient funds ensures you can enjoy your visit without worrying about running out of money.


Benefits of Having Sufficient Funds


Having enough funds offers several benefits for foreign workers, students, and visitors:

  1. Peace of Mind: Knowing you have enough money to cover your expenses allows you to focus on your purpose for being in Canada, whether it's working, studying, or exploring.
  2. Better Living Standards: Adequate funds mean you can afford better housing, food, and healthcare, contributing to a higher quality of life.
  3. Flexibility: With enough money, you have the flexibility to explore different cities, job opportunities, and educational options without immediate financial pressure.
  4. Emergency Preparedness: Unexpected expenses can arise at any time. Having a financial cushion helps you handle emergencies without added stress.
  5. Meeting Your Goals: Many people come to Canada with the expectation of sharing earnings with family members. Being aware of cost of living empowers you to meet your goals.


Tips for Financial Planning


Here are some practical tips to help you plan your finances before moving to Canada:

  1. Create a Budget: Estimate your monthly expenses based on the city you plan to live in. Include housing, utilities, food, transportation, and other essentials.
  2. Save in Advance: Start saving as early as possible. Having a financial cushion will make your transition smoother.
  3. Research Job Opportunities: Look for job opportunities in your field before you move. Having a job lined up can significantly ease financial stress.
  4. Understand the Currency: Familiarize yourself with the Canadian dollar (CAD) and its value compared to your home currency. This will help you better manage your finances.
  5. Consider Financial Assistance: Explore scholarships, grants, or financial aid if you are a student. For workers, some employers offer housing assistance.


Staying in Canada as a foreign worker, student, or visitor is a rewarding experience, but being financially prepared is essential. By understanding the cost of living, meeting financial requirements, and planning your finances carefully, you can ensure a stable and enjoyable stay in Canada. Remember, having enough funds is not just about meeting immigration rules; it’s about securing your future and making the most of your time in this beautiful country.


Ready to take the next step towards your Canadian dream? Visit immigrate.biz today and connect with our best-in-class immigration experts. We'll help you navigate the financial requirements and make your journey to Canada smooth and successful. Let’s make your Canadian dream a reality!

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By Dirk Propp • November 17, 2025
As provinces work to use up their remaining 2025 nominations and travel-based permit applications gain popularity, it’s never been more important to plan ahead, both for employers and workers.  Provincial Nominations Have Returned Provinces across Canada have received some of their unused nominations back, meaning more opportunities for both employers and applicants. We encourage you to check each province’s immigration website for updates as they begin issuing these newly available spots. From experience, government programs operate on a “use it or lose it” basis. Provinces that don’t use their full nomination allotment may receive fewer in future years. With the end of the year approaching and a potential reset of nomination quotas, most provinces will be working to allocate every remaining nomination before 2026. In Saskatchewan, where the program previously closed after reaching capacity, the province is now creating a list of employers and contacting them to confirm whether positions are still needed. This allows them to issue Job Approval Letters (JALs) and proceed with nominations. If you’re an employer in Saskatchewan who hasn’t yet joined the queue, now is the time to get your name on that list. Holiday Work Permit Applications to Work in Canada Holiday Port of Entry Applications are a new and growing trend, and I believe we’ll see a steady increase in these for those who qualify. Traditionally, people would go to the nearest land border to obtain a new work permit based on their LMIA, nomination, PR in process or an applicable exemption. However, beginning in 2025, land borders will no longer be able to issue work permits, which makes Holiday Port of Entry applications a new and viable option. It’s important to note that people previously had the opportunity to apply for work permits from within Canada, so this wasn’t a problem. That option has also been removed, further reinforcing the relevance of Holiday Port of Entry applications for work permits. If you're from a country not listed below, you’ll need to apply for a new work permit and cannot use a Port of Entry to obtain a decision without submitting an application. In that case, your options are to apply from your country of citizenship or from a country where you are legally permitted to be and currently present. This introduces the concept of the Holiday Application, many destinations now have quick work permit processing times. By applying online after you land, you can enjoy a short warm (or cold) holiday while waiting for a decision on your new work permit. Individuals from the countries listed below are able to apply for a work permit upon entry, based on holding an eTA. There are two main groups to consider: Visa-exempt countries that can always apply upon entry, and2. Conditionally visa-exempt countries, where eligibility depends on the applicant having held a Canadian visa within the past 10 years or currently holding a valid U.S. non-immigrant visa. In my opinion, it would be wise to stay at least a day or two as part of your holiday so that it’s not blatantly obvious that you are “Holiday Flag Poling.” Take the opportunity to genuinely enjoy a short holiday before obtaining your work permit to return to Canada. For individuals who are not from a visa-exempt country, check which countries you are legally permitted to travel to and how long you can stay there. Then, review how long it takes to obtain a work permit from that location if you’d prefer not to return to your home country to apply. For employers: If you have a worker whose status has expired or who has gone out of status, and that worker entered under a Dual Intent LMIA, you are not required to pay for the flight home or to another country they choose (as long as both parties agree). For Low-Wage LMIA applications, however, it’s important that employers do pay for the return flight, so speak with your employee or applicant in advance to confirm costs and ensure this is arranged. Lastly, applying for a work permit while traveling does not guarantee approval. A strong and professionally prepared application is always recommended. Ultimately, the immigration officer has the discretion to make the final decision. So feel free to reach out to the team at Fill a Role before hand to get assistance and a second-opinion.