Is Canada More Expensive Than The US?

The US and Canada; two countries sharing their border and origin. One is the land of the American Dream and the other brimming with opportunities! It can be difficult to choose between Canada and The US. Canada has a much larger area than the US; while the US boasts of a greater population. Canada however has diverse cultures when compared to the US and hence has a higher immigration rate. 

Both Canada and the US offer tons of opportunities to grow and flourish. Hence, there's a constant debate on which is better.  There are several factors that differentiate the two, here we are going to take the financial approach and evaluate which Country offers a better life financially.

Let's look at a few important factors, and then you can decide for yourself.

A] Services

Health care is a primary requirement for each one of us. Health issues are an inescapable part of human life. Each one of us desires to provide the best treatment for the recovery of a loved one. The US has the most superior health care services. But let's not forget it is also highly exorbitant. Canada, on the other hand, offers amazing health care services at affordable prices. It ranks 6th worldwide for its health care provisions and is way cheaper than The US expenses.  This doesn't mean the treatments provided are in any way inferior.

Every student today aims to study abroad to avail higher quality of education. Many students take up student loans; repaying which takes quite a lot of years. University expenses put so many people into debt which is sometimes carried lifelong. Pursuing a degree in the US is way more extravagant than pursuing the same degree in Canada.

In the US, a Bachelor's degree can cost about $37,600 in public colleges and for prestigious institutions; it goes up to $160,000.

In Canada, however, the most expensive degree costs around $50,000, this as prominent, is way too economical.

B] Salary and General Expenses

Canada and The US proffer almost the same salary annually. An American and a Canadian earn pretty much the same. Cost of living is what differs widely.

Though Americans and Canadians earn just about the same, the expenditure differs greatly.

Let us consider only the basic needs and their costing.

Food costs are inflated in Canada.  A simple three-time meal might cost you $60 here, whereas in the US it might be $44.

Clothing is charged extravagantly as well in Canada. A Levi's jeans priced at $40 in the US can go up to $55 in Canada.

Therefore, Canada is technically more expensive than The US, when it comes to physiological needs. However, you can find the MLS listing home which is cheaper than the new and get it at affordable prices with the help of real estate brokers.

C] Commute

Commuting is an undeniable part of living anywhere. Travel includes public and private transport. Traveling is cheaper in the US than in Canada. The reason for this is low population density and lack of competition. The taxes on Gasoline are also lower.

D] Taxes

If we have to determine one factor that significantly makes Canada more expensive than the US; it is the taxes. Canada charges a lot more sales tax than the US. Not only this, there is a lack of competition within Canada as compared to the US.

E] Benefits

Canada definitely is more lenient towards working. For example, a woman is liable to maternity leave and also gets monetary compensation for the same. The US, however, is uncompromising about work and seldom grants paid leave.

Comparing the expenses in the USA and Canada can be tricky. Canada is highly affordable when it comes to Healthcare, education, huge events etc. but the US is way cheaper when it comes to purchasing everyday requirements. However, there are regional differences. You need to check the two towns to be more sure of financial differences.

If you are a family with children wanting to pursue their education and elders who might require regular medical checkups then Canada is a more feasible option for you. The US however is highly expensive when it comes to these factors. Education is mandatory and Health issues are inevitable.  The US can get you bankrupt in one single medical treatment and pursuing education in the US can be daunting. Even if the everyday costs are slightly lower than costs in Canada, the huge expenses are what make the real impact.

When looked at from a social perspective; Canada offers you better. You can avail of maternity leave; receive better healthcare, and so much more. Both Canada and the US provide almost the same income. Canada is cheaper for huge events whereas the US is affordable for everyday expenses, maybe it evens out at the end.

The age-old debate of the two countries is never-ending; you however must look at what you desire and which place offers you the best and choose accordingly.