Keep up with your budget. What if it doesn't add up?

Build your budget: analyze your income and expenses.

What's changed because of the coronavirus pandemic?

Review your budget.  If you've been laid off / lost hours and it’s not clear when you'll be able to return to work, your budget may not add up anymore.

1. Expenses

  • You may have to buy cheaper necessities and postpone other expenses.
  • Rent. Check with your landlord if some rent relief is available. Government and bank relief programs already exist for borrowers who can’t make their mortgage payments. In some provinces, evictions for non-payment of rent have been temporarily banned. Emergency loans for renters are also available in some areas.
  • Utilities (electricity / gas). Some providers offer an option to defer bill payments, arrange for flexible payment plans, or waive late payment fees.
  • Telephone / cable / internet. These providers also offer flexible payment plans. Some have pledged not to disconnect customers in financial trouble in the next 90 days or to waive long-distance fees and temporarily remove caps on internet usage. Check your phone / cable company’s website, or call them to be sure.

2. Savings

  • Your rainy-day fund is for times like these. If you're going to use your rainy-day-funds, make sure to replenish them as soon as you can.

2. Income

  • If you are no longer earning income, your employer may be providing some support.
  • There is also emergency government support (CRB) if you don’t qualify for regular EI. Applications can be submitted through your CRA account (you can learn how to set it up on the Income Tax tab).​​ 

3. ​​​As for regular employment insurance, here’s a link to Employment and Social Development Canada, Employment Insurance, Sickness Benefit.  It has a checklist to guide you through the application process.

What's next?

They're multiple choice - always choose the most appropriate answer. 

Click on the diagram to find out how an independent budget works.

​This will open our video player.

If you're still in high school, follow a simpler budget.

Most of us could work on our budgeting habits.

how it works

Kathy, Donavan, and Tom are zombie hunters working full-time for the government...

Click on the icon to join Kathy, Donavan, and Tom and sprint through independent budgeting.

It should take you about 6 minutes.

budget - independent

Own your budget, step-by-step.

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