How Much Money Should You Bring to Canada? A First-90-Days Budget

A single newcomer arriving in Canada without a job or permanent housing should aim to have about $12,000 to $16,000 in accessible savings. That rises to approximately $18,000 to $25,000 if you plan to rent your own apartment in Toronto or Vancouver.

A couple should generally target $20,000 to $30,000, while a family may need $28,000 to $45,000. Child care, a vehicle and furnished temporary accommodation can push the total higher.

These are practical planning ranges for the first 90 days. They are not immigration requirements, and they do not include flights, immigration application fees or the cost of shipping your belongings.

Recommended first-90-days budgets

The lower end assumes that you find reasonably priced housing quickly, use public transit and avoid major purchases. The upper end gives you more time to find work and covers the higher upfront costs of settling in a major city.

If you already have a signed employment contract, employer-provided accommodation or family you can stay with, you may need considerably less.

Proof of funds is not the same as a moving budget

Some immigration programs require applicants to show proof of settlement funds. This is an eligibility requirement, not a personalized estimate of what your first three months will cost.

The current Immigration, Refugees and Citizenship Canada table lists the following minimums for the Federal Skilled Worker Program and Federal Skilled Trades Program:

You generally do not need to show these funds if you are applying under the Canadian Experience Class. An applicant authorized to work in Canada with a valid job offer may also be exempt, including in certain Federal Skilled Worker or Federal Skilled Trades applications.

IRCC updates settlement-fund amounts periodically. Check the official Express Entry proof-of-funds page before submitting or updating an application.

Your family size normally includes your spouse or common-law partner and dependent children, including family members who are not accompanying you to Canada.

The money must be available when you apply and when your permanent resident visa is issued. It cannot be borrowed from another person, and you cannot count equity in a home as readily available settlement money.

A realistic budget for one adult

The following example assumes that you arrive without permanent housing and support yourself for three months.

You will not necessarily spend every amount in the table. Temporary accommodation may overlap with your first month of rent, for example. A rental deposit is also money you may eventually recover rather than a permanent expense.

It still needs to be available when you arrive. Newcomer expenses tend to arrive close together, often before the first paycheque.

Housing takes the largest share

Canada’s rental market varies sharply by city. A room in Edmonton, Winnipeg or a smaller community may cost much less than a one-bedroom apartment in Vancouver or Toronto.

CMHC reported in its 2026 mid-year rental market update that advertised rents had been declining in several cities, including Toronto, Vancouver and Calgary. That does not make these markets inexpensive. New renters can still pay considerably more than long-term tenants in the same building.

A workable arrival plan is often to book seven to fourteen nights of temporary accommodation, then view permanent rentals in person. Booking an expensive short-term rental for an entire month can consume a large part of your settlement fund, but booking only two nights can leave you pressured to accept the first apartment you see.

Rental deposits vary by province

The amount due when signing a lease depends on provincial law.

In Ontario, a landlord can generally request a rent deposit of up to one rental period, usually the last month’s rent. A damage or pet deposit is not permitted, although a refundable key deposit may be allowed.

In British Columbia, a security deposit can be up to half of one month’s rent. A landlord may request a separate pet damage deposit, also limited to half of one month’s rent.

In Quebec, a landlord can require the first month’s rent in advance but cannot require an additional security or key deposit.

Check the rules in your destination province before sending money. Never pay a deposit based only on photographs and messages from someone claiming to be a landlord. Confirm that the property exists, view it in person or through a trusted representative, verify the landlord’s identity and obtain a written lease.

Groceries and household supplies

A single adult cooking most meals at home can reasonably budget $400 to $600 per month for groceries and basic supplies. Dietary needs, location and shopping habits can move that number considerably.

The first grocery trip is usually more expensive because you are buying items that established households already have, such as oil, spices, cleaning products, laundry detergent and food-storage containers.

Statistics Canada reported that Canadian households spent an average of $8,659 on food purchased from stores in 2023. That is a national household average, not a suggested newcomer budget, but it shows why food should not be treated as a minor expense.

Buying store brands, using loyalty offers and choosing discount grocers can lower the total. Restaurant meals and delivery during the first week can quickly add another few hundred dollars.

Transportation depends on the city

Public transit is usually the safest first option in Toronto, Vancouver, Montreal, Ottawa, Calgary and Edmonton. Budget approximately $100 to $200 per month per adult, depending on the city and whether you purchase individual fares or a monthly pass.

A vehicle changes the calculation substantially. Even an inexpensive used car may require:

• The purchase price
• Sales tax
• Registration
• Provincial inspection or repairs
• Winter tires
• Fuel
• Parking
• Insurance

New drivers or people without recognized Canadian insurance history can face high premiums. Do not include a vehicle in a basic $12,000 settlement budget unless the purchase and several months of operating costs are funded separately.

Phone, internet and banking

A basic mobile plan can cost around $30 to $70 per month, although promotional and prepaid plans may be cheaper. Home internet may add another $50 to $100, but it is often included in a furnished rental or shared home.

Newcomer banking packages can waive monthly account fees for a limited period. Some also include a credit card, international transfer offer or cash bonus. The most valuable account is usually the one that gives you easy access to your money without requiring a long-term fee commitment.

Canooq tracks current Canadian welcome bonuses, including offers that may be available to newcomers. Read the eligibility and direct-deposit requirements before opening several accounts.

Do not assume a new Canadian credit card will cover your arrival expenses. Your starting limit may be low, and approval is not guaranteed. Keep enough money in a chequing or savings account for rent, food and transportation.

Health coverage may not begin immediately

Provincial health insurance rules depend on where you settle and your immigration status. Registration may require proof of identity, status and residence.

Some newcomers qualify from their date of arrival, while others may need private insurance for a waiting period or until their provincial application is processed. Prescription medication, dental care, eye care and ambulance services may also fall outside basic provincial coverage.

Obtain a private-insurance quote before travelling if you will not be covered immediately. A medical emergency without coverage can consume a settlement budget very quickly.

Furniture and winter clothing are easy to underestimate

An unfurnished apartment may need more than a bed and table. Initial purchases can include:

• Mattress and bedding
• Cookware and dishes
• Towels and cleaning supplies
• Lamps and small appliances
• Desk or work equipment
• Winter coat, boots and gloves
• Child supplies or school items

A basic second-hand setup may cost $500. Furnishing an entire apartment with new items can cost several thousand dollars.

Check whether your rental includes appliances, window coverings, heating and laundry. In some provinces and buildings, heat or water may be included while electricity and internet remain the tenant’s responsibility.

Keep at least one month untouched

A first-90-days budget should include an emergency reserve that is not assigned to rent or daily expenses.

For one adult, try to keep $2,000 to $4,000 untouched. A couple may want $3,000 to $6,000, while a family may need more.

That reserve can cover:

• A longer job search
• A rental that falls through
• An emergency hotel stay
• Medical or dental costs
• Replacement documents
• A flight home for an emergency
• A delayed first paycheque

Without a reserve, one unexpected expense can force you to use expensive credit before you have built a Canadian credit history.

How to adjust the budget for your situation

You already have a job

Confirm when you will receive your first paycheque. Depending on the employer’s payroll schedule and your start date, you might work for several weeks before being paid.

Bring enough to cover all expenses until that first deposit, plus an emergency reserve. Do not calculate from your annual salary alone.

You can stay with family or friends

Free temporary housing can reduce the amount you need by thousands of dollars. Agree on the expected length of the stay and whether you will contribute to groceries, utilities or rent.

Keep enough money to leave and rent elsewhere if the arrangement changes.

You are bringing children

Add clothing, school supplies, transportation, medication and larger housing costs. Public school is generally funded for eligible residents, but before-school care, after-school care and full-time child care can be significant.

Child care should be researched separately because fees, subsidies and waiting lists vary by province and provider.

Newcomers may also qualify for federal or provincial benefits. The Canada Revenue Agency says eligible newcomers can apply for certain payments before filing their first Canadian tax return. Canooq’s benefits resources can help you identify programs to investigate after arrival.

You are studying in Canada

Use the financial requirements attached to your study permit application as the starting point. Add tuition, health insurance, books, housing deposits and travel separately.

Do not rely on finding part-time work immediately. Job availability, permit conditions and study schedules can all limit how much you earn.

Do not carry your entire settlement fund in cash

Canada does not prohibit you from arriving with more than $10,000. You must declare currency and monetary instruments with a total value of CAN$10,000 or more when entering or leaving the country.

That includes Canadian and foreign currency, bank drafts, cheques, money orders and certain securities. Declaring it does not mean you will be taxed on the money simply for bringing it into Canada.

Failing to declare can lead to penalties and seizure of the funds. The Canada Border Services Agency arrival guidance explains what must be reported.

For security, most of your money can remain in a regulated account and be transferred to your Canadian bank after arrival. Before travelling, check:

• Your bank’s international transfer limits
• Transfer fees and exchange-rate markups
• Whether you can access your existing account from Canada
• Whether two-factor authentication will work with your phone number
• How long a Canadian bank may hold an incoming cheque or draft
• What documents your Canadian bank will need

Carry enough for your first few days, but avoid travelling with your full settlement fund as physical cash.

A simple way to calculate your target

Start with three months of essential living costs, then add your housing deposit, initial setup expenses and emergency reserve.

For one adult expecting to spend $3,000 per month:

Someone renting a room in a lower-cost city may be comfortable with less. Someone renting alone in Vancouver, bringing a family or arriving without employment should plan for more.

Canooq’s budget planner can help you replace the national estimates with your expected rent, transportation and household costs.

What to prepare before travelling

• Price temporary accommodation for your actual arrival dates.
• Research current rents in specific neighbourhoods, not only city-wide averages.
• Request health-insurance quotes if provincial coverage will not begin immediately.
• Confirm the date of your first paycheque if you have a job.
• Prepare a secure way to transfer money into Canada.
• Keep proof showing the source and ownership of your funds.
• Leave room in the budget for a deposit and basic furnishings.
• Maintain an emergency reserve after signing your lease.
• Declare $10,000 or more in currency or monetary instruments at the border.

Sources

• IRCC: Express Entry proof of funds
• IRCC: Preparing financially for life in Canada
• IRCC: Crossing the border to settle in Canada
• CMHC: 2026 Mid-Year Rental Market Update
• Statistics Canada: Survey of Household Spending
• Ontario: Guide to the standard lease
• British Columbia: Tenancy deposits and fees
• Quebec: Paying the rent

Last reviewed August 29, 2026. Costs are planning estimates and can vary substantially by city, household and immigration status. Confirm immigration requirements with IRCC and provincial rules with the relevant government authority.