Thread by @TorontoStar

$5,000 in credit card debt. $5,000 invested in crypto. This 23-year-old line cook lives at home and makes $19/hour. Since coming back to the restaurant, he's been overworked due to shortages as others pursue new careers. Should he stay? #MillennialMoney

thestar.com/business/perso…

Let's look at his monthly expenses. He takes in around $2,500 a month and pays $0 for housing (thanks mom and dad!)

His largest costs? $700 on transportation, including high insurance because of a past accident.
thestar.com/business/perso…

On a typical work day, he’ll work anywhere from eight to 12 hours. At work, staff are entitled to 50% off their meals, so Cedric buys them often. They cost anywhere between $8 to $12. At home, his parents provide meals.

thestar.com/business/perso…

Let's look at what he spends money on daily. Other than staff meals, he goes out two to three times a week with his friends to the bar or dinner. “It helps with relieving the stress," he says. thestar.com/business/perso…

"I thought I would be excited to return, but it’s been stressful. The wages aren’t the best and the hours are so long,” he said. "It’s really making me reconsider this industry."

Should he leave? How can he earn enough to move out?
thestar.com/business/perso…