Smart Ways for Young Canadians to Live Affordably in Pricier Times

Let’s be honest—life is pricier right now. Rent keeps going up, groceries feel like a luxury, and even grabbing coffee with friends makes you second-guess your bank balance. Whether you’re a student, a recent grad, or just starting your career, it probably feels like your paycheck doesn’t stretch as far as it used to.

But here’s the thing: economic uncertainty doesn’t mean you’re out of options. There are ways to make life more affordable and find career paths that actually pay well. And believe it or not, Canada’s natural resource sector could be a game-changer for young people looking for financial stability.

Why is Everything so Expensive?

It’s not just in your head—everything is getting pricier. According to Statistics Canada’s Consumer Price Index Report (2025), inflation remains high, with housing and food costs being the biggest contributors. Rent in major cities has hit record highs, with the January 2025 Toronto Rent Report reporting that the average rent for an unfurnished one-bedroom apartment in Toronto has reached $2,149 this year.

At the same time, the job market is shifting. While industries like tech and retail have faced layoffs, others—such as skilled trades, energy, and natural resources—are growing and hiring. If you’re looking for stability and a good salary, exploring these sectors could be your best move.

So, how do you survive (and thrive) when money is tight? Let’s break it down.

Smart Financial Moves for Young Canadians

1. Budget Like a Boss (Without Losing Fun)

You don’t need to ditch everything you enjoy—just be strategic. Track your spending for a week and see where your money actually goes (spoiler: it’s probably food delivery). Swapping Uber Eats for home-cooked meals a few times a week or splitting streaming services with friends can free up cash for things that actually matter.

2. Find Jobs in Growing Industries (a.k.a. Where the Money’s At)

Not all industries are struggling—some are thriving. Canada’s natural resource sector (think oil, gas, mining, and energy) is hiring big-time, with high-paying jobs in engineering, skilled trades, and project management.

And the best part? These careers offer:

• Job security – Unlike industries facing layoffs, these jobs are here to stay.
• High salaries – Many entry-level positions in the oil and gas sector start at $70,000+ per year, according to Natural Resources Canada’s Labour Market Report (2025).
• Opportunities across Canada – You don’t have to move to Toronto or Vancouver to land a solid career. Alberta, Saskatchewan, and Newfoundland are all booming with opportunities.

3. Use Every Financial Hack Available

The Government of Canada provides a range of grants, tax credits, and financial aid to help young Canadians manage costs. Whether it’s tuition rebates, rent assistance, or job training programs, there’s free money out there—you just have to look for it.

Why Canada’s Natural Resources Sector Matters to Young People

You might not think about it much, but Canada’s economy runs on natural resources. From the oil and gas industry keeping energy prices stable to critical minerals powering your smartphone, this sector does more than just create jobs—it keeps the country moving.

For young Canadians, this means:

• More high-paying job opportunities in growing industries.
• A stable career path with long-term growth potential.
• Opportunities in every province (so you don’t have to live in an expensive city to find work).

The Bottom Line 

Yes, times are tough. But there are ways to take control of your finances, land solid jobs, and build a future where you don’t have to stress about every dollar. The natural resource sector might not have been on your radar before, but it’s worth a second look—because a career that pays well and offers security? That’s something every young Canadian could use right now.

So whether you’re exploring career options or looking for ways to cut costs, now’s the time to take action. The opportunities are out there—you just need to grab them!