Name, age: Rob, 37

Annual income: $79,033 from job, $10,006 from Canada Child Benefit

Debt: $9,453 car loan, $164,225 mortgage

Savings: $18,826 in tax-free savings account, $195,500 in registered retirement savings plan, $37,035 in registered education savings plan (RESP)

What he does: Information technology technician

Where he lives: Rural Saskatchewan

Top financial concern: “Being able to provide my family with a good quality of life. I may not be able to take them to Disney World but I want them to have a good childhood.”

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Rob has lived in different parts of Saskatchewan, including in a city, but moved back to a rural area when he was ready to buy a house and settle down.

“It’s probably one of the most affordable places in Canada, but that is changing,” says Rob, who is married with two young kids.

He says higher house prices in the province’s cities are sending more people into rural areas, which is pushing house prices higher there. At the same time, soaring food prices and stagnant wages are constant pressures on his family’s budget.

“Our standard of living is decreasing as things go up,” says Rob, who works in IT. “It seems like when things are good in the province, wages don’t go up, and when things are bad, wages don’t go up.”

Rob’s wife has a part-time job, but has recently taken on a day or two of other work per week to bring in extra income. She brings in about $20,000 a year, he says.

“She’s really stepped up,” says Rob, who is grateful to have a partner to face life’s challenges with. His deep focus on their household finances stems back to seeing his parents go bankrupt when he was 12.

“I remember the fear of losing things that we had,” said Rob, adding that his parents often fought about money. “It was jarring.”

That period “fundamentally” shaped who he is today, he says.

“I never want to be in a situation where I am vulnerable,” Rob says. “That’s good and bad, because I deal with a certain amount of anxiety about finances that maybe other people don’t have.”

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Rob views the money in his TFSA as his emergency fund, so he keeps it liquid. His RRSP is with a self-directed brokerage, invested in index funds and low-cost dividend and bond exchange-traded funds. He and his wife both now have defined-benefit pension plans through their jobs, and stopped making RRSP contributions once they started contributing to those.

The couple wants to give their kids a good upbringing and goes on family outings, such as visiting a museum, each month. Rob says the kids are rough on their clothes, but the couple is able to save money by buying own-brand children’s clothing from Walmart, which come with a guarantee of replacement if the kids wear it out before they grow out of it.

His typical monthly expenses:

Investment and savings: $550

$300 to work pension

$250 to RESP. “We aim to max out the RESP grant.”

Servicing debt: $1,334

$522 to car loan. “Until our vehicle is paid off, our extra money goes towards the loan for the most part.”

$812 to mortgage. “Put down 20 per cent to avoid mortgage insurance.”

Household and transportation: $1,312

$154 to property insurance

$175 to property tax

$320 to utilities

$200 to car maintenance. “We are a single vehicle family as we live in a walkable, small town.”

$250 to gasoline

$132 to car insurance

$20 on home phone.

$0 on cellphone. “I have a work phone.”

$61 on internet

Food and drink: $1,250

$1,000 on groceries

$50 at coffee shops

$200 at restaurants

Miscellaneous: $3,599

$984 to income tax, Canada Pension Plan and Employment Insurance

$15 on streaming services. “One service at a time and we rotate when we get bored.”

$100 on electronics. “This is my fun money.”

$50 on clothing

$25 on cat

$510 on child care. “Two kids. One is five and the other is under two.”

$100 on other child expenses. “Clothing, special events, fundraisers.”

$100 on family outings.

$10 on haircuts. “$30 haircut every few months.”

$50 on dentist.

$5 on glasses. “New glasses every year online from Zenni.”

$50 on prescriptions

$100 to Christmas fund

$100 to life insurance

$100 on going out

$1,300 to slush fund for extras. “In January, there were some family activities there, some miscellaneous Amazon purchases as well as a one-time purchase of winter clothing for the kids.”

Some details may be changed to protect the privacy of the person profiled. We want to thank them for sharing their story.