By: Hailey Boccone, Corporate Communications Manager

A lot of people my age seem to be anxious about money.

I'm part of Gen Z, a cohort born between 1997 and 2012. Those of us "elder Gen Zs" have entered adulthood at a time characterized by economic uncertainty, and for those of us living in Canadian urban centres like the GTA, a high cost of living.

According to a new survey conducted for TD, fewer than two in five Gen Z respondents polled said they feel in control of their money.

Along with a lack of control, more than half of Gen Z respondents polled feel compelled to maintain a successful image on social media, while nearly two in three polled believe they’re falling behind their peers financially.

Survey results like this don't surprise me; I scroll past videos of these stats playing out in real time nearly every day. Some of my peers are candid about their finances, while others leave me baffled about the source of their apparent wealth.

I'm also a colleague at TD and regularly work on personal finance-related content for TD Stories – including social media videos. While I maintain a budget for myself, I don't subscribe to any specific type of strategy – like the 50/30/20 rule or loud budgeting, but I do track my spending so that I can put some money towards my investments each month.

For TD clients, tools like the TD MySpend app can be helpful for tracking spending and managing cash flow while using a TD banking or credit card account – and can be a good place to start if you're looking for more insight into how you spend your money. If you're looking for even more personalized guidance on saving and investing, meeting with a TD Personal Banker in branch might be an option, too.

While vibes-based budgeting (or just spending without awareness of your cashflow) can be easy, it might not be the best way to save in the long term. I prefer a more intentional approach.

Here's an overview of what I, a Gen Z young professional, spend each month.

Housing and Utilities

Rent: $1,750 per month
Utilities and Wi-Fi: $130 per month

Housing is my biggest expense. I pay $1,750 for half of the townhouse I rent with my partner, plus about $130 for utilities and Wi-Fi. We split these costs evenly. Our utilities can fluctuate depending on the time of the year.

When I first moved out of my parents' house, splitting rent with four roommates made my housing costs more manageable. Now it’s just me and my partner. While it’s pricier, those years of roommate living really helped me save and build up a small nest egg.

Subscriptions and Phone

Phone: $80 per month
Subscriptions: $30 per month

My monthly phone bill is $80 right now because I’m still paying off my hardware. I currently spend about $30 per month on streaming subscriptions. My partner and I split the cost of these subscriptions and depending on what we're watching, we'll rotate through different streaming platforms.

Food

Groceries: $460 per month
Restaurants: $15 per month
Coffee: $30 per month

I don’t eat out much, so groceries are where most of my food budget goes — around $460 for the month. My partner and I are both vegetarian; the savings that come along with not eating meat are a nice bonus. I love to cook and experiment in the kitchen and usually prefer a home-cooked meal to a restaurant. I try to shop local when I can and check out the farmers' market on weekends.

Eating out usually happens for birthdays or special occasions, and coffee sneaks in here and there, especially when I’m working in-office.

Transportation

Public transportation: $90 per month
Ride-sharing: $60 per month

I love walking everywhere, but when that’s not possible due to distance or weather, I’ll grab public transit.

If I’m going out in the evening, I'll usually walk there and take a ride-share home if it’s late. That way, I only pay one way.

Lifestyle and Personal care

Personal care: $90 per month
Shopping and clothing: $107 per month
Fitness: $30 per month
Entertainment: $50 per month.
Gifts: $250 per month

I get my nails done once a month and pick up a few new pieces of clothing when the seasons change. These small luxuries are important to me, and I make sure they fit into my budget by saving in other ways, like cooking most of my meals at home.

Fitness is another priority for me. My gym is relatively affordable, especially for Toronto. It's not fancy, but it has everything I need. An entire month at my gym costs the same as just one yoga class at my old studio.

I went to a concert this month and also celebrated a few birthdays. My gifts bucket was a little higher than usual, but my friend group takes celebrations seriously. I cherish the time we spend together and am happy to contribute to these special events that bring us closer together.

Saving and Investing

Investments: $500 per month

While it's good to track where your money is going each month, it's equally important to save and invest for short-and-long-term goals – such as a big vacation or maybe even a home.

My generation is split when it comes to our perspective on saving. Half of those polled said they'd prefer splurging more regularly now, on experiences like travel or meals out, than saving for the future.

I see it as more of a balance and hope to put away at least a few hundred dollars each month.

Total Monthly Spend: $3,572

This is what a typical month looks like for me as a Gen Z young professional. While some items are fixed, like my rent, I tend to fluctuate in other areas. But one stays constant: my goal of putting money towards investing, and spending based on my values, and usually, not on impulse.

Learn more about how TD can help support Gen Z Canadians as they embark on their careers and begin to navigate key financial decisions,

About the TD Survey

The findings are based on a national online survey conducted by Edelman Data & Intelligence using the Harris Poll Omni. The survey was fielded in both English and French between July 28 and 29, 2025, with a nationally representative sample of 3,037 Canadians. Within this group, nearly 500 respondents were Gen Z (ages 18 to 28), including more than 250 young professionals who have been in the workforce for one to five years. Demographic quotas were applied to ensure the sample reflected the Canadian population profile.

Does this mean that the $130 is half of the utilities/wifi? I initially read it as $130 is the total cost for utilities/wifi.