Creating a budget in college can help you understand where your money goes each month, which is a good first step to take when you’re learning to manage your finances.
5 Tips for Saving Money and Budgeting in College →In a 50/30/20 budget you should aim to spend your net income in this way: - 50% on your essential needs - 30% on your non-essential expenses - 20% on savings contributions/debt repayments
Neontra auto-categorizes your expenses so you can quickly see how your 50/30/20 budget is tracking →One in four Canadians are unable to cover an unexpected expense of $500, according to StatsCan.
Budget planning can help you live a better financial life and save for unexpected expenses →"Making a budget can help you: - set spending limits - find ways to pay down your debts - reduce costs and save more - live within your means - reduce stress - have more money for things that are important to you - feel in control of your money"
Start building a better future with a budget today →"The average price for electricity in Canada is around 17.4¢/kWh. If your apartment or house is averagely consuming around 1000kWh, your electric bill will be roughly $174. The average cost of utilities in Canada is $304.75 per month."
Learn how your spending compares to national averages with our NEOs →"Canadian gasoline prices dropped year over year for the second consecutive month in March (-13.8%), the largest yearly decline since July 2020."
Statistics Canada has an interactive tool that allows you to explore your personal rate of inflation, based on the goods and services you consume →Making a budget can help you balance your income with your savings and expenses. It guides your spending to help you reach your financial goals.
Why make a budget →Mapped: Which Countries Have the Highest Inflation?