Moving out of the city won’t solve all your money problems

City slickers reportedly want to move to more affordable areas of the country, but leaving a big city comes with hidden costs. Half of the residents in Canada’s largest cities — Toronto, Montréal, and Vancouver — are considering moving to cheaper locations, according to a recent survey. That might seem like a good short-term solution, but experts caution that moving away from a big city can impact your earning potential. First of all, consider the high upfront costs of moving to a different city. Then, consider work: Well-paying remote gigs are getting harder to come by, so moving often means you are looking for new work. In a smaller and less-competitive labour market, that could mean settling for lower-paying roles or ones that don't match your skills. If you’ve managed to hang onto a remote-friendly job, you might be ultra-tempted to take your big-city salary and move to Red Deer, Alberta — but if you lose your job or your company calls you back into the office (which many are), or your company caps or adjusts your salary to reflect your living costs (which some are considering), it puts you in a sticky situation. So, before you move to live out your small-town dreams, first consider how it will impact your career goals.