By Aditi Roy

It’s no secret that the cost of living is ever-increasing, and university life is changing under the weight of financial pressures. 

In June 2026, the consumer price index—which measures the increase in price of goods—increased by 2.8 per cent in Canada. This rise in prices comes alongside high youth unemployment rates and the shrinking of entry-level jobs. 

Youth unemployment rates softened from 14.6 per cent last September to 12.6 per cent this July. However, young adults aged 15 to 24 are still grappling with sparse work opportunities. 

An August 2026 TD Bank study found that there are around 25,000 fewer jobs in retail and service industries this year compared to 2019—a common gateway for young adults into the workforce.

This pressure is significant for university students. According to Statistics Canada, average tuition for undergraduate students in Ontario has climbed by 2.9 per cent, now averaging at $8,958 from 2025 to 2026. 

Despite the unfavourable economic conditions, students at Toronto Metropolitan University (TMU) are still adamant on fostering a social life for their mental health and emotional wellbeing.

Here, we speak with four students in different stages of life who are finding ways to build and maintain their social lives in the midst of economic uncertainty.

Smit Shah, Third-year

Smit Shah is a third-year business management student at TMU. Though he isn’t a fan of clubbing or bars, he said he does find time to catch up with his friends on campus. 

“On a weekly basis, I go out pretty sparingly, [I] spend lots of time communicating over social media nowadays. We only go [out] in-person [if needed],” said Shah. 

His social life revolves around grabbing meals with friends and getting coffee during school days, preferring caffeine runs for affordability and convenience.

“If it’s just coffee that we’re going for, that’ll all be within $5 to $12 but if it’s [a] full-on meal, it could range anywhere between $20 to $30,” he said. 

Shah said he has become increasingly mindful of his spending since his first year, when he realized the financially draining nature of being a student.

“At the end of first year, I realized how much money I needed for textbooks, online modules, transit [and] meals, so after that point, all of my money was going towards school and food,” he said. 

Despite this, Shah said he understands the value of socializing. 

“I’m actually planning on going out more because I feel like in my first two years I wasn’t quite socializing as much as I should have to build my foundation and my networking skills,” said Shah.

He sees the process as an experiment, slowly expanding his social life while prioritizing his studies and work and ensuring he is financially stable. Shah estimates his social spending to be $80 to $100 a month.

Gordan Cao, Fourth-year

Gordon Cao is a fourth-year business management student at TMU. Cao enjoys his weekends going out and socializing with friends, saying that he couldn’t imagine a life without it.

“It’s kind of like you’re escaping reality, like a de-stressor. Hanging out with friends, you just kind of forget about all your issues,” he said.

Cao has recently slowed down on partying, now only going out once every two weeks, as he said the price of night life and commute adds up to around $80 to $100 per night. In addition to this, Cao regularly goes out for meals with his loved ones around three to four times a week, averaging out his spending to be within $20 to $60. 

He acknowledges that his thriving social life can also be attributed to working long hours, which balance his spending habits and manage his school expenses. Although Cao is employed, he said that in the busier months, he has to cut back on his outings. 

“September to December is the most expensive because there’s just so many things going on: Halloween, Christmas, New Year’s and [a lot of birthdays]. I can’t afford it, so I have to prioritize,” he said.

Cao feels satisfied with his outgoing lifestyle in university, mentioning that despite going out  regularly, he still prioritized his savings.

“I met a lot of amazing people and friends that I’m close with now, there’s nothing I would change,” said Cao.

Cao estimates his social spending to be $300 a month.

Pushpa Saha, Second-year 

Pushapa Saha is a second-year media production student at TMU. She sees her social life as a need rather than a want, describing going out as self-care that boosts her mental wellbeing as a busy student.

As someone who goes out two-to-three times a week, Saha said it’s difficult to have a social life in university without spending too much money. 

She’s seen how the increase in prices has led to financial stress among students, and said high costs have made many of the events she’d like to attend seem inaccessible. 

“When you go somewhere and you realize the prices are much more than you thought it was, it can get a little stressful because you’re thinking about, ‘what does my credit card balance look like after this,’” she said.

Saha and her friends have found discounted ways to work around the high costs of the city, while still enjoying their time together. She enjoys going out for meals, movies and the occasional club and pub scene on special occasions. 

“I use student discounts sometimes—like the AGO is free for [people] under 25—or the ROM is free on Tuesdays, or the movies are cheaper on Tuesdays, so I usually try to do things more economically friendly,” she said.

Saha said that having an accountant for a father also helps her take advantage of student benefits, and grants to make living in the Greater Toronto Area more affordable. 

Saha estimates her social spending to be $250 a month.

Ananya Joshi, Fifth-year

Ananya Joshi is a fifth-year politics and governance student. She said she had struggled to account for her social life for her first three years at TMU, but has now gotten a handle on things, making sure to budget bi-weekly.

“My priorities are my bills,” she said. “My phone bills, my grocery list, my credit cards—the rest I save for parties.” 

Joshi looks forward to the weekends. She enjoys going out to dinner with friends or partying. She says each of her outings cost around $50 to $100, but may vary depending on the occasion.

“A person should enjoy one day of the week—not overspending, but just to relax, so that you can jump [into] the next week and work as hard as you can,” she said. 

Joshi believes in maintaining a balance. If she overspends one weekend, she cuts back on the coming week’s activities to make up for it. 

She says budgeting has become increasingly important to her as her cost of living in general has gone up.

Joshi estimates her social spending to be $300 to $400 a month.