Living well below one’s means isn’t about deprivation; it’s about creating a financial safety net while still enjoying life. Across the country, some families have mastered this approach, not because they earn less, but because they choose to spend strategically. Here are 19 Canadian families who are living well below their means.
Kristy Shen & Bryce Leung (“Millennial Revolution”)
A Toronto software engineer couple who walked away in their early 30s after amassing ~$1M by saving aggressively and declining to buy a costly home. They publish transparent posts about spending, investing, and a decade of financial independence; they also explain how they kept annual costs low by geo-arbitrage and tracking expenses closely. Their MoneySense profile captures the decision points, high incomes, high savings, no house, and their blog documents the mechanics and the 10-year check-ins (still FI, still disciplined).
Bob & “Mrs. T” Lai (“Tawcan”)
Bob (Vancouver) and his family have long published their spending, savings rate, and dividend-income progress. Their approach: track costs, invest in broad equities/dividends, and say “no” to lifestyle creep. The “About” page explains the family focus; multi-year spending reports show annual outlays that sit well under what many dual-income households at similar earnings would spend in Vancouver, with the difference plowed into investments to accelerate financial independence. Their consistency, budgeting, meal planning, DIY, and refusing needless upgrades exemplify living below means without absolutism.
Robb Engen & family (“Boomer & Echo”)
Robb built one of Canada’s longest-running personal finance blogs and later an advice-only planning practice. His writing and planning ethos emphasize avoiding lifestyle inflation, automating savings, and using simple portfolios, habits that keep spending under income even as earnings rise. Plus, public bios and profiles (blog, interviews, LinkedIn) reflect a family that has deliberately chosen moderation over maximal consumption while helping readers do the same through fee-only planning.
Mark Seed & spouse (“My Own Advisor”)
Mark and his wife became financially independent after about two decades of steady saving and investing. He writes openly about buying “well below our financial means,” eschewing upgrades, and preferring FIWOOT (Financial Independence, Work On Own Terms) to maximal spending. His site also includes posts titled “living below your means” and a 2025 update confirming FI and an ongoing FI budget, evidence of intentional underspending relative to income over many years.
Tom Drake & family (“MapleMoney”)
Tom, based in Alberta, runs MapleMoney as both a business and a living example of financial control. His household applies structured budgeting, automated bill tracking, and couponing to keep recurring costs modest. They’ve made conscious choices about housing, vehicles, and vacations that allow them to maintain a comfortable lifestyle without exhausting their income. While Tom earns from his business, the family continues to live on a set budget below their earnings, directing surplus into investments and savings. His blog and podcast often highlight this disciplined approach as both practical and sustainable.
Barry Choi & family (“Money We Have”)
Barry’s household has consciously resisted lifestyle inflation even as his career and income grew. His family prioritizes experiences over possessions, often leveraging travel rewards to reduce costs. They avoid unnecessary upgrades, choosing functional over flashy in cars, tech, and home goods. Barry often details how they cap housing-related expenses and monitor monthly outflows, making sure savings targets are met before any discretionary spending. His advice to readers mirrors his personal habits: know what you value, avoid spending for appearances, and let the gap between income and spending widen naturally over time.
Desirae Odjick & partner (“Half Banked”)
Desirae became known for saving up to half her income, and those habits have remained in her personal life. She and her partner structure finances to meet key goals first, automating transfers to savings and investments. They consciously limit fixed costs—avoiding oversize housing or excessive car expenses—and keep entertainment and dining budgets moderate. By clearly defining what matters to them, they can say “no” to most impulse purchases. Publicly sharing her process helps reinforce their discipline while showing others that long-term financial comfort comes from consistent, below-means spending.
Court & Nic (“Modern Family”)
Court and Nic achieved early retirement in their 30s by keeping expenses exceptionally low while earning solid professional salaries. They’ve documented living comfortably on around $25–30k per year, even after having a child. Choices like cycling instead of driving, cooking at home, and embracing minimalism kept their spending lean. They also avoid high housing costs, opting for modest accommodations despite being able to afford more. Their site shows exact annual budgets, proving that purposeful underspending can allow not just early retirement, but a lifestyle they consider richer than many higher-spending peers.
Chrissy & family (“Eat Sleep Breathe FI”)
Chrissy and her husband have built a high savings rate by optimizing big expenses and adding income streams like hosting homestay students. They bought a home suited to their needs rather than stretching their budget, and they’re intentional about vehicle choices and travel spending. Her blog outlines precise tracking of every expense category, making it easy to adjust when costs creep up. This discipline ensures that even in expensive Vancouver, their spending stays well under their income. Also, the extra margin goes toward investments that support their financial independence timeline.
“Canadian Budget Binder” Family (Ontario)
This Ontario household runs its finances with meticulous planning, which they document on their site. Weekly “grocery game” challenges, couponing, and price-matching keep food costs low. They regularly review bills for reductions and take on DIY projects to avoid service costs. Debt avoidance is central; they won’t finance depreciating assets unless necessary. The result is a family budget that leaves a significant surplus every month, which they save or invest. Plus, their long-running blog serves as both accountability and a resource for others looking to trim everyday spending without sacrificing essentials.
Family Money Saver (Kent & family)
Kent and his family focus on practical, value-driven purchases that cut recurring costs in Toronto’s high-priced environment. They choose modest cars, avoid unnecessary tech upgrades, and plan activities that fit within a family budget without draining savings. Utility and grocery costs are tracked closely, with an emphasis on buying in bulk and reducing waste. This deliberate approach allows them to save and invest at rates higher than most families in similar circumstances. The blog demonstrates that careful, steady underspending can work even in costly urban settings.
Genymoney.ca (Vancouver mom & family)
A Vancouver-based mom, she carefully manages family expenses in one of Canada’s priciest cities. Her approach includes low-fee index investing, strategic use of credit card rewards, and keeping housing and transportation costs contained. She avoids luxury add-ons, focusing instead on long-term wealth growth. Tracking every expense ensures there are no surprises at month’s end, and savings goals are met before discretionary spending happens. She shows readers that even in high-cost environments, disciplined financial habits can keep household expenses well below income.
Catherine MacLean & family (“Plunged in Debt”)
Catherine and her husband rebuilt their finances after a period of high consumer debt. They implemented a strict budget, cut out non-essential spending, and maximized debt repayment until balances were gone. Even after becoming debt-free, they maintained a lean spending pattern, prioritizing savings over upgrades. Public interviews detail their shift from paycheck-to-paycheck living to having a buffer every month. Their story shows that living below your means isn’t just for the already-wealthy; it’s a necessary step for financial recovery and long-term security.
Kornel Szrejber & family (“Build Wealth Canada”)
Kornel paid off his mortgage at 29 and reached FI soon after by keeping costs controlled. His family avoids high-cost vehicles, maintains a modest home, and travels using deals and points. Even post-FI, they review spending to ensure it stays within sustainable limits. Kornel’s interviews often highlight how investing the difference between income and living costs, rather than spending it, was the key to his early retirement. The family continues to live comfortably but intentionally, showing restraint even when they could spend more freely.
Tim Stobbs & family (“Canadian Dream: Free at 45”)
Tim charted his path to early retirement without resorting to extreme deprivation. His family kept fixed costs modest, resisted unnecessary upgrades, and made lifestyle decisions that supported a high savings rate. They maintained a balanced spending plan that allowed for enjoyment while staying well under earnings. Tim’s public profiles explain how this sustainable underspending, paired with investing, enabled him to retire years ahead of schedule. Even now, he maintains a measured budget to ensure long-term financial independence without pressure to re-enter the workforce.
“Frugal Trader” & family (“Million Dollar Journey”)
The author and his wife hit a net worth of $1M by age 35 through consistent savings and careful spending. They avoided luxury housing, drove reliable used cars, and cut unnecessary subscriptions. By automating investments and minimizing fees, they kept wealth-building on autopilot. Their public net worth updates show a consistent pattern: living on far less than they earn and channeling the rest into tax-efficient investments. This discipline has continued beyond the initial $1M milestone, keeping the family financially secure and independent.
“Frugal Family Times” (Ed & Robin & kids)
Ed and Robin run a DIY-focused household, tackling home projects themselves to avoid contractor costs. They shop second-hand, repurpose items, and plan family entertainment that doesn’t strain the budget. By making these habits routine, they consistently spend well under what similar-income families might. Their blog illustrates that creative problem-solving and hands-on work can produce significant savings, which they reinvest in home upgrades and future goals without touching debt. The approach keeps their finances balanced while allowing room for comfort.
Alyssa Davies & family (“Mixed Up Money”)
Alyssa emphasizes value-based spending in her personal life. She and her husband maintain a budget that aligns with their priorities, avoiding high-cost status items. Housing and transportation decisions are made with affordability in mind, and they resist pressure to overspend on trends. Her writing often touches on balancing family needs with long-term savings, showing that living below one’s means is about clarity, not restriction. The result: steady wealth growth and reduced financial stress while still enjoying meaningful experiences.
Hollie Pollard & family (“Common Cents Mom”)
Hollie’s household benefits from her expertise in couponing, deal-hunting, and bill negotiation. By lowering costs on essentials, they create room in the budget for savings without sacrificing comfort. She has a habit of reviewing expenses regularly to find new reductions, keeping spending well under income year-round. Her blog documents these methods, making them replicable for other families. All in all, this steady discipline ensures they can weather unexpected costs and still invest consistently for future goals.
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If trade tensions escalate between Canada and the U.S., everyday essentials can suddenly disappear or skyrocket in price. Products like pantry basics and tech must-haves that depend on are deeply tied to cross-border supply chains and are likely to face various kinds of disruptions
21 Products Canadians Should Stockpile Before Tariffs Hit
21 Products Canadians Should Stockpile Before Tariffs Hit
If trade tensions escalate between Canada and the U.S., everyday essentials can suddenly disappear or skyrocket in price. Products like pantry basics and tech must-haves that depend on are deeply tied to cross-border supply chains and are likely to face various kinds of disruptions
21 Products Canadians Should Stockpile Before Tariffs Hit
