Budgeting 101

Step-by-step guide

1. 1

   List your monthly income

   Include paycheques, scholarships, family support, etc.

2. 2

   List your fixed expenses

   Rent, phone, transit pass, insurance, subscriptions you pay every month.

3. 3

   Set flexible spending limits

   Decide how much you can spend on food, going out, hobbies, etc.