IDEAL HOUSEHOLD BUDGET - ATTAINABLE??

Can You Afford Your Own Life in Nanaimo?

A sustainable household budget is a lot like running a city: you have to put essentials first—housing, food, transportation, and health—before you even think about fun stuff. The general rule from financial planners is simple: spend wisely, save consistently, and don’t let debt sink the ship.

The Ideal Household Budget Breakdown

Category	Recommended % of Income	What It Covers
Housing (shelter)	25–35%	Rent/mortgage, property tax, utilities
Food	10–15%	Groceries, basic dining
Transportation	10–15%	Car payments, fuel, insurance, transit
Health Care	5–10%	Insurance premiums, medical/dental costs
Clothing	3–5%	Basic needs—not fashion statements
Personal Care	2–5%	Hygiene, toiletries, household items
Savings & Investments	10–15%	Emergency fund, retirement, big goals
Debt Payments	<15%	Credit cards, loans (principal + interest)
Discretionary	5–10%	Hobbies, entertainment, travel, gifts
Charity/Donations	1–5%	Optional, but meaningful for many

Reality Check for Nanaimo Households

Let’s get real: for many Nanaimo households, that ideal budget is long gone. The median household income here is about $80,000. Using those budget targets, a family could spend up to $28,000 a year on housing. Yet with property taxes climbing—Nanaimo council approved a 7.3% increase for 2024 alone—and rents hitting new highs, many families are already spending 40% or more of their income just to keep a roof over their heads. That’s before groceries, transportation, or savings even enter the picture.

Add to that the rising cost of food, fuel, and basic services, and the math doesn’t add up. Households are being squeezed from all sides, while City Hall continues to approve tax hikes and spending plans that seem disconnected from the reality on the ground.

The problem isn’t just personal; it’s systemic. If the average household can’t afford to live within their means, how can we expect the city’s budget—built on the backs of taxpayers—to stay afloat? It’s a question that deserves an honest answer.

At Voice of Nanaimo, we believe it’s time to rethink priorities—both at home and at City Hall. That means asking tough questions about where the money’s going, who benefits, and how much longer taxpayers can be asked to foot the bill for every new project and initiative dreamed up by city staff.

If you’re feeling the squeeze, you’re not alone. Let’s make our voices heard—before the next tax bill arrives.

Contact Nanaimo City Council at Mayor.council@nanaimo.ca and let them know how rising costs are affecting your family. And send us your story at voiceofnanaimo@mail.com— we want to hear from you.

It’s your money, your city, and your future. Let’s stand up for it.