{"id":1339,"date":"2026-04-12T15:47:16","date_gmt":"2026-04-12T15:47:16","guid":{"rendered":"https:\/\/www.europesays.com\/canada\/1339\/"},"modified":"2026-04-12T15:47:16","modified_gmt":"2026-04-12T15:47:16","slug":"winnipeg-geologist-earning-117000-is-getting-ready-to-sell-his-first-home","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/canada\/1339\/","title":{"rendered":"Winnipeg geologist earning $117,000 is getting ready to sell his first home"},"content":{"rendered":"

Open this photo in gallery:<\/a><\/p>\n

iStockPhoto \/ Getty Images<\/p>\n

Name, age: Tom, 27<\/p>\n

Annual income: $117,000<\/p>\n

Debt: $242,192 mortgage<\/p>\n

Savings: $24,322 in savings account, $96,073 in tax-free savings account (TFSA), $47,156 in registered retirement savings plan (RRSP)<\/p>\n

What he does: Geologist for a mining exploration company<\/p>\n

Where he lives: Winnipeg<\/p>\n

Top financial concern: \u201cMy industry contains boom-and-bust cycles. It is booming right now, but that could very quickly change. If I don\u2019t have a job, I want to have enough savings to live comfortably for a while.\u201d<\/p>\n

Tom lives in Winnipeg in a house he bought with a family member to save on costs. They\u2019ve been living there together for four years and get along \u201cextremely well,\u201d he says.<\/p>\n

They\u2019re currently renovating the house before putting it on the market, in part because Tom wants to move in with his girlfriend. They bought it for $290,000 and expect to sell it for about 30 per cent more.<\/p>\n

While that\u2019s good for his finances, Tom says it makes him uneasy to be part of a real estate system that keeps pushing prices up and making it harder for his peers to get a foothold.<\/p>\n

\u201cIf we want to … have lives similar to our parents, I feel like we have to buy houses, and that means participating and helping to prop up the exorbitant prices of the housing markets,\u201d Tom says, adding that \u201c… many friends of mine are stuck in the loop of just being able to make ends meet with most of their money going to pay for rent.\u201d<\/p>\n

His girlfriend of two years is in that position, and the couple has struggled to figure out how they would combine their finances if they move in together.<\/p>\n

\u201cIt has come up in some conversations where it\u2019s very stressful for her, because she doesn\u2019t have the same finances and can\u2019t bring the same to the table,\u201d says Tom.<\/p>\n

The couple\u2019s current plan is that Tom will buy a house, in his name, with the money he gets from the sale of his current home. She won\u2019t own the house, but can live there rent-free to allow her to start saving money. \u201cIt takes the stress off her, but also me if it doesn\u2019t work out,\u201d he says.<\/p>\n

Tom travels a lot for work, going to remote communities to investigate potential mining sites. He loves the adventure \u2013 \u201cyou could be riding in a helicopter or in a remote part of the world that no one has seen\u201d \u2013 and gets a good salary in exchange for his willingness to be away for weeks at a time.<\/p>\n

He says he\u2019d have to look for a different job if he were to have a family, which he\u2019d like to do one day.<\/p>\n

\u201cIt\u2019s taking a pay cut, but you\u2019re at home more,\u201d he said. \u201cIt\u2019s an industry that\u2019s extremely hard on family and relationships.\u201d<\/p>\n

His typical monthly expenses:<\/p>\n

Investment and savings: $500<\/p>\n

$500 to RRSP. \u201cWhen I have extra cash throughout the year I will transfer a little more.\u201d<\/p>\n

Servicing debt: $1,225<\/p>\n

$1,225 to mortgage. \u201cI split all housing costs 50\/50 with the family member I bought the house with.\u201d<\/p>\n

Household and transportation: $1,558<\/p>\n

$125 on property tax<\/p>\n

$234 for electricity<\/p>\n

$150 on renovations. \u201cTo maintain and prep our house for the market.\u201d<\/p>\n

$266 on gasoline. \u201cI drive lots for work.\u201d<\/p>\n

$320 for vehicle insurance. \u201cMotorbike, car and boat trailer.\u201d<\/p>\n

$320 on car maintenance. \u201cDriving and repairing an older vehicle.\u201d<\/p>\n

$143 on internet and cellphone. \u201cIncluding unlimited data for the U.S., but I regret that because I refuse to travel down to the U.S. and be a tourist due to the current state of affairs.\u201d<\/p>\n

Food and drink: $1,155<\/p>\n

$625 on groceries. \u201cI visit the grocery store multiple times per week as I hate wasting food.\u201d<\/p>\n

$60 on coffee<\/p>\n

$400 at restaurants. \u201cI often eat out as I work rurally, which I like to justify is a boost to the local economy.\u201d<\/p>\n

$70 on alcohol<\/p>\n

Miscellaneous: $6,149<\/p>\n

$5,391 to payroll deductions<\/p>\n

$150 to going out. \u201cI like keeping busy, trying new things, going to concerts.\u201d<\/p>\n

$12 for Paramount+<\/p>\n

$11 on Amazon Prime<\/p>\n

$34 on electronics <\/p>\n

$50 on clothing<\/p>\n

$30 on gym membership<\/p>\n

$30 on running. \u201cOrganized race fees are getting expensive.\u201d <\/p>\n

$40 on haircuts<\/p>\n

$8 on dentist. \u201cI go yearly for a cleaning.\u201d <\/p>\n

$50 on glasses. \u201cNormal and prescription sunglasses every year.\u201d <\/p>\n

$10 on other medical expenses<\/p>\n

$208 on vacations. \u201cI often go on a yearly trip somewhere fun with friends.\u201d<\/p>\n

$50 on boat maintenance. \u201cAn old, simple boat for fishing.\u201d<\/p>\n

$25 to donations. \u201cHomeless people when it\u2019s cold outside. Cash to the local food bank.\u201d<\/p>\n

$50 on gifts. \u201cI like to spoil my girlfriend at Christmas and for her birthday.\u201d<\/p>\n

Some details may be changed to protect the privacy of the person profiled. <\/p>\n

Participate in the Paycheque Project<\/p>\n

\nWelcome to Paycheque Project, a regular series in The Globe and Mail that looks at how much young Canadians are earning \u2013 and where that money is going. We’d like to hear from young adults from a diverse range of backgrounds, geographic locations, and earnings ranges.<\/p>\n

If you’re a millennial or Gen Z and would like to participate, fill out the form below or send an email to Roma Luciw at rluciw@globeandmail.com. Please include your name, age, where you live, occupation, your biggest financial concern and your email. And remember, Paycheque Project is a judgement-free zone.\n <\/p>\n","protected":false},"excerpt":{"rendered":"Open this photo in gallery: iStockPhoto \/ Getty Images Name, age: Tom, 27 Annual income: $117,000 Debt: $242,192…\n","protected":false},"author":2,"featured_media":1340,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[136,940,84],"class_list":{"0":"post-1339","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-winnipeg","8":"tag-appwebview","9":"tag-paychequeproject","10":"tag-winnipeg"},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/posts\/1339","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/comments?post=1339"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/posts\/1339\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/media\/1340"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/media?parent=1339"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/categories?post=1339"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/tags?post=1339"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}