Why Should I Budget?
- To take control of your finances and financial situation
- To make efficient use of your money and be a smart consumer
- To save money
- To live within your means
- To reach your short, mid- and long term goals
A Budget Involves…
- Calculate how much income you have and how much you will have
- Analyzing and tracking your spending
- Evaluating and revising your budget- keep it flexible
- Remembering priorities
- Involving everyone in your family
Cost of Living
The cost of living (COL) is
- Used by financial counsellors at CFCS in one on one counselling
- A handy tool to help people outline monthly expenses by category
- When entering annual amounts into the spreadsheet (such as autopac), simply divide the annual amount by 12 for the monthly amount.
- Ultimately, a COL shows if you`re on target with your spending or if you are overspending each month: do you have a shortfall or a surplus?
Use this cost of living spreadsheet to help figure out your current financial situation.
Alternatively, you can print this version of the cost of living spreadsheet