Family budgeting in Calgary: a detailed guide for 2025

Calgary is a city with a high quality of life, but also significant expenses. To effectively manage your family budget, it is important to consider key expenses and use modern tools. Let's figure out how to plan your expenses and which programs can help automate the process.

Basic family expenses in Calgary (2025)

1. Housing

• Rent for a 3-bedroom apartment: $2,200–$3,500 CAD/month.
• Utilities (electricity, water, gas, garbage): $290–$425 CAD.
• Internet: $74–$110 CAD.

Tip: Use RentFaster to find apartments with utilities included.

2. Food

• Family of 4: $1,200–$1,500 CAD/month.
• Food prices:
• Milk (1 liter): $3.10 CAD.
• Eggs (12): $4.66 CAD.
• Chicken breast (1 kg): $16.75 CAD.

Savings: Buy in bulk at Costco or Superstore. Use loyalty programs (e.g., PC Optimum).

3. Transportation

• Car: Gas ($1.60/liter) + insurance ($150–$200) = ~$450/month.
• Public transportation: Monthly pass – $115–$135.
• Taxi: $4.75 per ride + $3.15 per mile.

Life hack: Use a bike in the summer – savings of up to $300/month.

4. Childcare expenses

• Daycare: $1,000–$1,750 CAD/month (before subsidies).
• Sports clubs: $50–$150/child.
• School supplies: $30–$80/month.

Government assistance: Apply for subsidies through Alberta Child Care Subsidy.

5. Emergency fund

• Recommended: 5–10% of income ($300–$500 for a family with a budget of $5,000).
• Example: Set aside $500/month – in a year, you will have $6,000 for emergency expenses.

Top 5 budgeting apps

1. Monarch Money

• Who it's for: Families, freelancers, small businesses.
• Features:
• Syncs with 11,000+ banks (RBC, TD, Scotiabank).
• Automatic expense categorization, family sharing.
• Referral program: $50 per friend.
• Cost: $14.99 USD/month.
• Nuances: For Canadian banks (CIBC, Wealthsimple), manual updates are sometimes required.

2. YNAB (You Need A Budget)

• Philosophy: “Every dollar has a job.”
• Pros: Educational materials, credit card and loan support.
• Cost: $14.99 USD/month.

3. KOHO

• Who it's for: Cashback enthusiasts.
• Features:
• Returns up to 4% on purchases.
• RoundUp: Saves the difference from rounding (e.g., $3.50 → $4.00, $0.50 goes into savings).
• Cost: Free basic version.

4. QuickBooks

• For businesses: Invoices, tax reports, integration with Canadian banks.
• Features: HST support, automatic payroll. - Cost: From $25 CAD/month.

5. Wave

• For small businesses: Free invoicing and expense tracking.
• Cons: Limited bank support.

How to choose software?

| Business | ⚠️ | ❌ | ❌ | ✅ | | Cashback | ❌ | ❌ | ✅ | ❌ | | Price | $$$ | $$$ | $ | $$$ |

Tips for effective budgeting

1. Use the 50/30/20 rule:

• 50% – housing, food, transportation.
• 30% – entertainment, hobbies.
• 20% – savings and debt.

2. Plan your weekly menu: This will reduce your food expenses by 15–20%.
3. Monitor prices: The website Flipp shows supermarket deals.

Sample budget for a family with a monthly income of $6,000

| Savings | $500 | | Total | $6,250 |

Conclusion

Budgeting in Calgary requires discipline, but modern tools simplify the process. For families, I recommend Monarch Money or YNAB, and for businesses, QuickBooks. Don't forget about a reserve fund — it will save you in case of unexpected expenses!