A change in the cost of living will depend on the country you are coming from. North Bay has a very low cost of living compared to other cities in Ontario.
You will be asked by Citizenship & Immigration Canada for proof of funds once you arrive in Canada. So it is important to figure out what your monthly costs will be once you get here, and make sure you have enough money to take care of yourself and any family once you arrive. Settlement.Org has a list of tools that can help you compare the cost of living in your home country with the cost of living in North Bay.