$350/food isn't bad estimate for Toronto - it would be hard to get below $250, even being very careful. So there is maybe a little to claw back there, but you'll want at least $100 for food outside the home too.

Also the rent number is too low for Toronto, assuming you don't add a commute beyond your metropass.

So yeah, $500 doesn't look that practical.

This isn't a budget for sustainable living, it's a best an emergency budget you can survive on for a bit.

Quick sanity check: there's zero medical costs. Zero clothing costs. Zero furniture costs. Zero moving expenses. Zero allowance for costs associated with sharing your place with 2 other people. Zero education or progression related investments. Zero capital expenditures on your computer (better hope it never fails, right?).

And that's just a taste. The model is SO wrong as to be laughable.

I used to live, fairly recently, on a hard limit of $10 per day for food - I did not eat out (almost never). It was enough to bulk up on (over 4000 calories), was balanced, and even included the prices of some basic supplements I took. This was in an expensive area of the US, that per a quick search is roughly on par with Toronto.

$11.60 seems like it could cover a days food in most, if not all, North American cities. You have to be diligent about budgeting, where you shop, what you buy, etc. But it can be done.