In true Toronto millennial fashion, I'm spending more than 50% of my monthly take-home pay on housing. I'm still doing okay (I think?), but things I really want (a dog) remain frustratingly out of reach. I may be a victim of lifestyle creep.

Lately I've been feeling morose about the fact that I'm almost 32 and alone in the world with no pets/children/husband/etc.

There's no one in my life I can really talk to about money, and I have no idea what I'm doing. Do you need to be rich to benefit from a financial advisor? Am I saving enough? How do you become 'good' at money?

I've been debating taking on a roommate, because another ~$1k a month would be great. No one here can tell me whether the love/joy a dog would bring to my life is worth the hassle of a roommate, but want a gut check on my overall financial situation.

OVERVIEW

  • early 30s, single female in Toronto
  • $4700 in take-home pay a month
  • 10% bonus annually - 1/3 goes to TFSA, 1/3 to emergency fund, 1/3 to fun fund
  • any 'surplus' in my budgeted money at the end of the year gets split 50/50 between my emergency fund and my fun fund
  • $350k remaining on mortgage (3bed/2ba stacked townhome) - down payment was funded via a combination of my savings and an inheritance
  • Currently have $18k in my emergency fund (HISA), $38k in a TFSA (ETFs), $22k in RRSPs, and $2.5k in my 'fun fund'
  • A lot of my fun fund got spent last year being a bridesmaid in the world's most expensive wedding (it cost $5k, kill me)
  • I estimate that the 'carrying costs' of a dog would be ~$350 a month (insurance, food, walker/occasional daycare) plus I'd like to set aside an additional $100 a month for unexpected dog expenses - dog owners, does that seem fair to you?
  • Really want a dog within the next two years

MONTHLY BUDGET

Housing

  • Mortgage: $1500 mortgage
  • Other fixed home expenses (maintenance fees, property tax, utilities, insurance): $950

Basics

  • Groceries: $400
  • Vehicle: $385 (gas and insurance- car is paid off.)
  • Internet: $75
  • Phone: work pays
  • note I drive, walk or ride my bike everywhere. I haven't been on the TTC since 2018 out of sheer stubbornness. I Uber very rarely (approx 8 round trips a year)

Discretionary

  • Personal Care: $115 (toiletries, skincare, haircuts, waxing, etc.)
  • Clothing: $125
  • Entertainment: $225 (eating out, concerts, baseball games, minor hobby expenses)
  • Subscriptions: $25 (Strava, plus one streaming service at a time)
  • Charitable donations: $25

Other

  • Therapy: $25 of my own money, work pays for the rest
  • Bike: $25 for maintenance gets set aside monthly, but that's paid for out of my work wellness subsidy (not out of my take-home pay)
  • Slush Fund: $150 (gifts, any minor unexpected expenses - 50% of whatever isn't spent gets put into emergency fund at the end of the month, remainder gets pushed forward to pay for Christmas/weddings)

Savings

  • Fun Fund: $325 (travel, major hobby expenses)
  • TFSA: $375
  • RRSP/company stock: $480 (not counted in my take-home pay)
  • company match: $480 (paid by my company, not in my take-home pay)