by Toronto, one of Canada’s most vibrant cities, is a dream destination for many travelers. However, being a large metropolis, it can quickly become expensive if you don’t plan carefully. During my time in the city, I made it a point to find ways to enjoy all the amazing things Toronto has to offer without breaking the bank. Here’s my guide on how to save money in Toronto while still having an incredible experience.
1. Affordable Accommodation: Where to Stay Without Overspending
Accommodation is often one of the biggest expenses when traveling, but Toronto has several budget-friendly options that don’t skimp on comfort or location.
Booking in Advance
One of the best ways to save on accommodation is to book early. I found that prices tend to spike as your travel date gets closer, especially during peak tourist seasons like summer. By booking a month or two in advance, I was able to secure a good deal at a centrally-located budget hotel.
Stay in Budget Hotels or Hostels
Toronto has a wide range of budget-friendly hotels and hostels that offer great value. During my visit, I stayed at The Rex Hotel, a small boutique hotel right on Queen Street West. The rooms were modest but comfortable, and the location was unbeatable for the price, as it was within walking distance to many of Toronto’s main attractions. Another option I considered was Hi Toronto Hostel, which is perfect for budget-conscious travelers. It offers shared dorms and private rooms at a very reasonable price, with the added bonus of free breakfast.
Alternative Accommodations
Airbnb is another excellent option in Toronto. I found that staying in an Airbnb outside the downtown core could save you a significant amount of money. Areas like Kensington Market or The Annex offer affordable apartments with easy access to public transport, allowing you to explore the city while avoiding high hotel costs.
2. Getting Around: Navigating Toronto on a Budget
Transportation is another cost that can quickly add up if you’re not careful. Fortunately, Toronto has plenty of ways to get around without spending too much.
Walking
Toronto is a very walkable city, especially if you’re staying in or near downtown. I spent a lot of time simply walking to different attractions, which not only saved me money but also allowed me to explore the city at my own pace. Iconic neighborhoods like Chinatown, Queen Street West, and Distillery District are all easily accessible on foot.
Public Transport
Toronto’s public transport system, run by the Toronto Transit Commission (TTC), is an affordable and efficient way to get around. A single ride costs around CAD 3.25, but I opted for a Day Pass which provided unlimited travel on buses, streetcars, and subways for a flat fee. If you’re staying longer, a Presto Card is your best bet, as it offers discounted rates for regular use. I found the subway and streetcars to be incredibly convenient for getting to different parts of the city without spending a fortune on cabs or rideshares.
Bike Rentals
Another budget-friendly option for getting around is biking. Toronto has a city-wide Bike Share program with stations all over the city. I rented a bike for just CAD 7 for 24 hours, which allowed me to cruise along the beautiful waterfront and explore parks like High Park and Trinity Bellwoods Park. Biking is not only affordable, but it’s also a fun way to see the city.
3. Budget-Friendly Dining: Eating Well Without Spending Too Much
Toronto is a food lover’s paradise, but eating out at trendy restaurants can quickly eat into your budget. However, there are plenty of ways to enjoy the city’s culinary scene without overspending.
Street Food and Food Trucks
One of my favorite ways to save on food was by eating at the city’s many food trucks. These trucks are scattered all over the city and offer a wide range of delicious, affordable meals. I highly recommend trying Poutini’s House of Poutine for some classic Canadian poutine or grabbing a fresh hot dog or sausage from one of the numerous street vendors. It’s a quick, cheap, and filling option for lunch or a snack while you’re out exploring.
Cheap Eats in Kensington Market
Kensington Market is a must-visit for anyone looking for unique and budget-friendly dining options. This vibrant, multicultural neighborhood is packed with affordable eateries offering everything from Mexican tacos to Middle Eastern falafel. I had a fantastic meal at Seven Lives Tacos – their fish tacos were both delicious and inexpensive. For dessert, I grabbed a churro from Pancho’s Bakery, which was the perfect sweet treat to end the meal.
Food Courts and Fast-Casual Dining
If you’re looking for variety, food courts in places like Eaton Centre or St. Lawrence Market are great options. St. Lawrence Market, in particular, is a foodie haven where you can sample local specialties like peameal bacon sandwiches or fresh seafood without spending too much. I loved wandering through the market and grabbing affordable, fresh food from different vendors.
Self-Catering
If you’re staying in an Airbnb or a hotel with kitchen facilities, consider cooking some of your meals. I visited Loblaws and Metro, two of Toronto’s largest grocery chains, and found everything I needed to prepare a few simple meals. This was especially helpful for breakfast and lunch, allowing me to save money for a nice dinner out.
4. Free and Low-Cost Attractions: Exploring Toronto’s Sights on a Budget
Toronto has an abundance of free and low-cost attractions that can help you make the most of your trip without spending a fortune.
Explore Toronto’s Parks and Beaches
Toronto is home to several stunning parks and beaches that are completely free to explore. High Park, one of Toronto’s largest green spaces, was a highlight for me. It’s a peaceful escape from the bustling city, with beautiful walking trails, a small zoo, and even a cherry blossom grove that blooms in the spring. I also spent an afternoon at Woodbine Beach, relaxing by the lake and taking in the views. Both are great spots to visit if you’re looking to save money while enjoying nature.
Free Museums and Cultural Sites
While many of Toronto’s museums charge admission, several offer free or discounted entry at certain times. I took advantage of the Art Gallery of Ontario’s (AGO) free admission on Wednesdays between 6-9 PM. It was a fantastic way to enjoy world-class art without spending a dime. The Royal Ontario Museum (ROM) also offers discounted admission on Fridays after 5:30 PM.
Additionally, Nathan Phillips Square and Yonge-Dundas Square are lively public spaces where you can often catch free performances, art installations, or festivals.
Walking Tours
I joined a free walking tour of downtown Toronto that gave me a fantastic overview of the city’s history and architecture. The guide was knowledgeable, and while tips were appreciated, the tour itself didn’t cost anything upfront. There are several companies offering free walking tours, and it’s a great way to explore the city without spending a lot of money.
5. Shopping on a Budget
Toronto is a shopper’s paradise, but high-end boutiques and designer stores can quickly drain your wallet. Luckily, there are plenty of budget-friendly shopping options as well.
Thrift Stores and Vintage Shops
Toronto has a thriving vintage and thrift shopping scene. I spent an afternoon in Kensington Market, browsing through unique second-hand shops like Exile Vintage and Courage My Love. These stores are packed with quirky finds, and I managed to pick up a few souvenirs at a fraction of the cost of typical tourist shops.
Outlet Malls
If you’re looking for brand-name items at a discount, check out Toronto Premium Outlets or Dixie Outlet Mall. Both are located just outside the city and offer great deals on clothing, shoes, and accessories.
6. Enjoying Toronto’s Nightlife on a Budget
Toronto has a vibrant nightlife, but bar tabs and cover charges can quickly add up. To save money, I focused on finding affordable entertainment options.
Bars with No Cover
Many bars in Toronto don’t charge cover fees, especially if you’re visiting during the week. I found several great spots on Queen Street West where I could enjoy a drink without paying an entry fee. The Horseshoe Tavern is a Toronto institution that often features live music, and there’s usually no cover charge, making it a great option for a budget night out.
Happy Hours and Drink Specials
Many bars and restaurants in Toronto offer happy hour specials, where you can score discounted drinks and snacks. I made it a habit to check out happy hour menus before deciding where to go for the evening. Places like Bar Hop on King Street and The Drake Hotel in West Queen West have great deals during the early evening.
Enjoying Toronto Without Breaking the Bank
Toronto may have a reputation for being expensive, but with a little planning, it’s entirely possible to experience this amazing city on a budget. By finding affordable accommodation, using public transport, seeking out cheap eats, and taking advantage of free or low-cost attractions, I was able to make the most of my time in Toronto without overspending. Whether you’re visiting for a weekend or an extended stay, these budget-friendly tips will help you have an unforgettable trip without breaking the bank.
