August 2024, during a summer trip to Canada, I felt that I needed to immerse myself more into the culture of Montréal, and made a decision to act on a short-term stay. However, let’s set the record straight: I do not wake up in the morning feeling like P. Diddy. I wanted to enjoy this beautiful city without pinching pennies, and the absolute minimum you should consider spending is $10k. Here’s why.

Inflation Costs: The Silent Thief of Your Budget

Before I dive into the fun stuff, let’s talk about inflation. Canada’s inflation rate has been a ride on a rollercoaster, and it’s made living in its cities, especially glamorous ones like Montréal, a bit pricier. As prices for everyday goods and services skyrocket, the $10k I had in mind last summer melts away faster than ice on a hot summer day. I’m starting to already think on where to spend my next $10k and if I’ll be able to pull it off with inflation, although Trump has promised to lower costs.

In 2023, the inflation rate shook things up, and while it might settle, those hikes are here to stay. Don’t attempt to budget as if we’re still in the pre-2020 era; those days of cheap eats around the world and easy-going rents are long gone. So I had to really search hard for the best prices I can get for luxury living.

Housing: Finding a Place to Lay Your Head

Next on the agenda is housing. Demand is high, and the rental market is tighter than your Airbnb host’s budget on cleaning fees. A decent short-term rental in a prime area can easily set you back $2,000 to $3,000 per month. If you wish to enjoy the vibrant neighborhoods like Ville-Marie or Griffintown, prepare to pay a premium.

Sure, you could live further out into the South Shore, but that means a longer commute and more time spent on public transport—a luxury nobody wants when they are only in town for a limited time. Keep in mind, you might also face extra fees like cleaning and security deposits. With housing being one of the biggest chunks of my $10k getaway, look for deals but remain wary; you are in Canada, and *this ain’t your grandma’s pricing* anymore.

Transportation: Getting Around in Style

Once you’ve settled into your cozy abode, it’s time to venture out and explore. I have witnessed that public transportation in Montréal is efficient and relatively affordable. The metro and bus systems can get you just about anywhere you want to go, and a monthly pass runs around $85. However, if you fancy a more extravagant way to traverse the city, consider Uber, catching a taxi, or walking everywhere (or you can try to ride a bike).

While the buses may not yet have the charm of a cool cab, don’t underestimate the joy of zipping through the streets on two wheels. The beauty of old Montréal, with its quaint European vibe, is best explored at your own pace—just don’t forget your helmet!

Food: Culinary Delights Await

Ah yes, let’s talk about the delicious—and sometimes expensive—food scene. From IGA grocery shopping lists, to fine dining in the Quartier des Spectacles, you can indulge your taste buds in ways you never dreamed. A decent meal could range from $20 to $100, depending on how fancy you want to get.

Go get you a steak in the Old Port.

Don’t miss out on the local specialties, but consider a strategy: allocate about $1,500 for food over your stay. Hit up the markets for quick lunches, embrace brunch culture if you find a place to go, and then save your budget for one or two high-end experiences. Eating well in Montréal can still fit in your budget—but it will require some planning and worthy sacrifices (goodbye, mediocre takeout!).

Nightlife: Paint the Town Red—or Blue

Montréal’s nightlife is lit and demands exploration. A night out can range from $60 to $200, depending on drinks, cover charges, and whether you feel the need to flaunt your style in some of the city’s swankiest spots. I enjoy techno, and have once played Downtown at the posh Motel Motel. Don’t worry about the DJ, make sure you check your drinking budget because the beats will slay.

Prepare to dress up a little, as some clubs and bars have a strict dress code. You can expect to spend around $1,000 for your nightlife adventures. Just remember: Montréal is a city that thrives at night, so plan to indulge but tread carefully; your wallet may not bounce back as quickly as the beats on the dance floor.

Clothing: A Fashion Statement

Now, let’s not forget about fashion. You’ll want to strut your stuff in the trendiest parts of town. Aside from the basics, expect to spend about $500 on clothing if you’re aiming for some Canadian flair. It’s all about layers; the weather can be unpredictable, and what’s an adventure without looking fabulous?

It might be best to pack wisely, but if a shopping spree calls your name, embrace the local designers and shops that blanket the landscape. I spend most shopping time in Jack & Jones.

Leisure Activities: Fun for All

From festivals to museums and everything in between, you’ll want to set aside about $1,000 for leisure activities. Montréal is known for its artsy vibe and love for theatrics. Check out local street performers, dive into the eclectic art scene, or enjoy a night of live music. The dispensaries also sell legal marijuana.

Keep an eye or ear on any special events or festivals during your visit—many are free but may require a bit of planning. Sometimes, your favorite DJ or artist may come to town for a show. Remember, there’s always something happening, so explore your options wisely.

Trump’s Tariffs: The Icing On The Cake

Let’s talk politics for a hot minute. The economy is still shaking off the impact of Trump’s tariffs, which affected trade with Canada. Imported goods? Expect to see those costs reflected on your bills. So if you think about picking up that “Made in the USA” souvenir, know that it might cost you more than you bargained for.

What It Won’t Get You

So, $10k in Montréal might cover the basics, but don’t expect it to leave you rolling in dough or with endless entertainment options. I missed Tiesto. But I did manage a weekend escape to Toronto. Forget about long-term cozy living or a full lavish lifestyle; we’ll have to leave that to the affluent locals. The Real Estate in Montreal is top tier. Some of the most amazing properties I’ve ever seen. Remember, your budget should allow for some flexibility—especially since life in the city of festivals and food is anything but predictable!

A short-term stay in Montréal, if you prepare wisely, can be fulfilling and exciting without leaving you penniless, sleeping on the streets, or going homeless while on vacation. Enjoy the art, culture, and cuisine, but keep those inflation rates in check! Craft a getaway tailored to your taste and empathy towards your hard-earned cash. Gone and pack you a suitcase and come through to Montréal. Tell them you passing through with $10k and just want to have some local fun.