Household income: $200,000
Anthony and Antonella Damiani, who are 41 and 39, moved from Etobicoke to a bigger house in Mississauga in 2001. They now have two kids—10-year-old Angelina and eight-year-old Marcus.Anthony, who began working in the HVAC industry as a teen, runs his own company, Furnace King, which has clients across the GTA. Antonella is a manager at Agility Logistics, a freight company. Although the kids’ expenses add up, the Damianis won’t sacrifice their big annual family vacation.
Monthly expenses | Mortgage on their three-bedroom home: $2,000. Mortgage on their Georgian Bay cottage: $1,200. Utilities: $430. Gas for their Chevy Avalanche and BMW 328xi: $300. Groceries at Highland Farms: $1,200. Eating out, mostly at Swiss Chalet and Jack Astor’s: $840. Rogers for home phone, cable and Internet: $200. Clothes: $1,000. (“I drive across the border to Buffalo all the time on business,” says Antonella. “I shop a lot when I’m over there, mostly at stores like Guess.”) Vitamins, creams and lotions at Shoppers: $400. Books and magazines: $100. (“I get Men’s Health, new business books, and a novel now and then,” says Anthony.) Gifts: $250. (“The kids are constantly going to birthday parties. And there’s always a christening or confirmation to attend.”)
Annual expenses | Insurance for cars, house and cottage: $3,640. Kids’ RESPs: $4,000. RRSPs and blue-chip stocks: $20,000. Donations to Princess Margaret Hospital, SickKids and women’s shelters: $1,500. Vacations: $7,000. (“In February, we take the kids to an all-inclusive in the Dominican or Mexico,” Anthony says. “Sometimes my wife and I will go to the Bahamas for four days in the winter and leave the kids at home with their grandparents.”) Season tickets to the Leafs for Anthony: $2,000. Hockey league fees, tournament fees and new equipment for Marcus: $1,500. Dance classes for Angelina: $700.
Boo-hoo
February 15, 2012 at 8:29 am | by Jonathon YuleNot saying you should feel guilty for earning $196k … but this article is a poor attempt at soothing the feelings of upper middle class Liberals.
February 15, 2012 at 8:56 am | by GregOrdinarily, the “other” 99% of Canadians would laugh at this article as a failed, manufactured attempt at sympathy.
Fortunately for you though, those people probably don’t read your publication.
ps. Dammit, my Infiniti is in the shop AGAIN
February 15, 2012 at 9:09 am | by 99%I can’t believe these people put their names and faces out there but it’s always interesting to snoop in people’s business like this! I would be curious/nosy to know their net worths too though – the Damianis in particular appear to be spending a fortune ($1,000 per month in clothes!!!), way out of proportion to what I (household income $170k or so) and friends spend versus save/invest. And yeah, I’ll say it – only 1500 bucks to charity? Come on. More power to them all for their success though, despite all the sniping comments that will come none of these incomes come without hard work and talent.
February 15, 2012 at 9:22 am | by Foghorn O'KalashnikovAnyone notice the plug from Rogers telecom services? Hmmmmm….
February 15, 2012 at 9:24 am | by VBI agree, $196k is definitely not enough to live on in Toronto. Toronto is just a more expensive city and your money does not go as far. While I don’t think we need to feel sorry for any of the people profiled (including the one family who can’t manage to save a penny for their future), I think we have to own up to the reality of living in a big city.
February 15, 2012 at 9:25 am | by Top LeftThis article so accurately depicts what is happening all over the city – incurring massive amounts of consumer debt. Whether you’re earning 50k a year, or 196k, everyone spends beyond their means. Consumerism is the universal religion in north america, and it’s not just the upper class that buys into it – it’s just harder to poke fun at someone splurging beyond their means at a regular grocery store than at Pusateri’s.
February 15, 2012 at 9:44 am | by Benproof read your articles before you post. geez.
February 15, 2012 at 10:19 am | by kaA spectactularly superficial, poorly written article.
February 15, 2012 at 11:20 am | by Bruceyou people make me sick
February 15, 2012 at 11:58 am | by Jesus ChristProofread before posting. Someone needs a new web editor!!
February 15, 2012 at 12:15 pm | by English TeacherSo, how about living within your means? My partner and I have a combined income of about $105k, and still manage to own a house downtown, eat well, go out, travel… I have literally no sympathy for these people and their poor-little-rich-boy attitudes.
February 15, 2012 at 12:16 pm | by Alex“He tries to stay debt-free, but occasionally he splurges on travel or a big-ticket toy, like the $7,500 Royal Enfield motorcycle he bought last year. “People think I make a lot of money,” he says, “but I lose so much of it in tax.”
U poor thing!
SRSLY? SRSLY??? I mean this isn’t surprising for TL, but come on.
February 15, 2012 at 12:23 pm | by JMAll I can say is this makes me feel better about living within my means.
February 15, 2012 at 12:30 pm | by BeccaWow! I made a fraction of what these people make. I graduated in 2011 with a professional degree (and the attendant massive debt) and have only been working for a few months. After tax, I make less than a third of the 1% after-tax income and yet I managed to:
Keep a roof over my head
Pay all my bills/debt payment on time
Eat healthy, including meals out at least twice a week
Travel to Europe for a friend’s wedding
Tuck a couple hundred into savings every month
Buy gifts for loved ones
Is the city expensive? Sure, BUT the problem in this particular article isn’t Toronto – it’s people who don’t understand how to live. I don’t begrudge anyone with the means from buying expensive furniture – I will too when I have the cash, but if you think it’s more important than education savings for your children that’s YOUR fault, not the fault of “expensive city living”.
February 15, 2012 at 12:39 pm | by Cry Me A River