If you\u2019re looking to lower your cost of living significantly in Canada, you may have to move cities.<\/p>\n
Tangerine released a list of Canada\u2019s 10 best cities for meeting your financial goals this year, highlighting one of them as the best if you want to lower your cost of living.<\/p>\n
\u201cFrom St. John\u2019s to Victoria, many Canadian cities offer a unique blend of affordability, opportunity and quality of life that can help you reach your financial and personal goals,\u201d reads the report. \u201cWe call it wealth-life balance \u2014 the sweet spot where financial growth meets everyday happiness.\u201d<\/p>\n
The Canadian bank partnered with AskPolly.ai, a social listening and sentiment analysis platform, to explore how residents feel about their cities.<\/p>\n
The report measures each element of a city using a \u201cJoy Score,\u201d which is indicated by very low, low, average, high, and very high. It also uses an \u201cImportance Rank,\u201d which means a goal was frequently mentioned and emotionally resonant. The higher the rank, the more important that factor is to people in that city. Lower scores may be less urgently or frequently mentioned.<\/p>\n
\u201cBy analyzing thousands of online conversations about money, work and lifestyle, we uncovered where people are most satisfied while pursuing their goals,\u201d explained the bank.<\/p>\n
Canadians who live in major cities like Toronto or Vancouver, who are tired of the soaring cost of living, may want to consider moving to Winnipeg.<\/p>\n
Tangerine has named Manitoba\u2019s capital city as the best for \u201clow cost of living.\u201d<\/p>\n
According to the report, it has some of the lowest average home prices in the country, at $381,500<\/a>.<\/p>\n \u201cWinnipeg is an enjoyable place to settle down while you make your budget go farther than in other locales,\u201d it reads.<\/p>\n Tangerine highlights the city\u2019s affordable transportation, groceries and entertainment<\/a> that\u2019ll allow you to \u201clive comfortably without stretching your paycheque.\u201d<\/p>\n The bank found that Winnipeg hits a high Joy Score due to its low cost of living and accessible lifestyle, \u201cproving that low-cost does not mean a low quantity of fun, culture and community.\u201d<\/p>\n