Case Study You just received news that one of your closest friends is moving to Toronto, mid- October. Other than you, she doesn't know anyone else she could ask for advice, so she asked you to give her a sense of how much living in Toronto costs. To make sure you can provide her with a sense - as accurate as you can - of what living in Toronto is like, you called her and found out the following details about her: Your friend is an urban planner by training, and she aspires to work for the best urban planning company in Toronto: She has savings of $7,500, which she'll use to settle down until she finds a new job; Moving expenses to Toronto will cost $300 for the flight (one way) and $400 in miscellaneous expenses: A one- bedroom apartment in downtown Toronto rents for $1,500 per month: Groceries cost around $150 per week: She currently has a busy social life: she likes to go out with her friends at least 2 times a week, and she's planning on maintaining this lifestyle in Toronto. A dinner out (food and drinks) costs about $50. Your friend considers this move a new beginning, so she'd like to upgrade her wardrobe to reflect her new life. New clothes would cost $1,000. A new pair of shoes, $250. New work-out clothes: $250. She always dreamt of a new pair of rollerblades and a new bicycle (together they cost $750): She will need a cell phone and also internet services: A new cell phone plan costs $50/month, and a high-speed internet package. about $50 in 2 months' time, your friend wants to go to her best friend's wedding, back home. Build a monthly budget for living in Toronto, for your friend, based on the information above: evaluate your friend's financial situation, to determine her success relocating to Toronto (4 points) Provide 3 recommendations to your friend, to prepare her for her move to Toronto (6 points) Case Study You just received news that one of your closest friends is moving to Toronto, mid- October. Other than you, she doesn't know anyone else she could ask for advice, so she asked you to give her a sense of how much living in Toronto costs. To make sure you can provide her with a sense - as accurate as you can - of what living in Toronto is like, you called her and found out the following details about her: Your friend is an urban planner by training, and she aspires to work for the best urban planning company in Toronto: She has savings of $7,500, which she'll use to settle down until she finds a new job; Moving expenses to Toronto will cost $300 for the flight (one way) and $400 in miscellaneous expenses: A one- bedroom apartment in downtown Toronto rents for $1,500 per month: Groceries cost around $150 per week: She currently has a busy social life: she likes to go out with her friends at least 2 times a week, and she's planning on maintaining this lifestyle in Toronto. A dinner out (food and drinks) costs about $50. Your friend considers this move a new beginning, so she'd like to upgrade her wardrobe to reflect her new life. New clothes would cost $1,000. A new pair of shoes, $250. New work-out clothes: $250. She always dreamt of a new pair of rollerblades and a new bicycle (together they cost $750): She will need a cell phone and also internet services: A new cell phone plan costs $50/month, and a high-speed internet package. about $50 in 2 months' time, your friend wants to go to her best friend's wedding, back home. Build a monthly budget for living in Toronto, for your friend, based on the information above: evaluate your friend's financial situation, to determine her success relocating to Toronto (4 points) Provide 3 recommendations to your friend, to prepare her for her move to Toronto (6 points)
