Examine your income

Income is any money you earn / receive. It's yours to spend or save.

DO YOU GET MONEY IRREGULARLY?

• This could be from gifts or odd / one-off jobs.

DO YOU HAVE A PART-TIME JOB?

• Make sure you have direct deposits set up.
• Your paycheques will automatically be sent to your chequing account.

eARN & SPEND 

​Don't take away from your 'needs' to indulge your 'wants':

• Essential items must come first in your budget, but everyone should leave a little room for 'fun' purchases.
  
• If you're not sure about making a purchase, stop for a few seconds  and consider what else you could buy with that money / what it may be worth in the future if saved or invested.
  
• Once you're sure it's worth it and all your 'needs' are met, you can be satisfied with your purchase.

DO YOU GET AN ALLOWANCE?

• Is it a cash allowance?
  
• Consider asking if it could be set-up as a direct deposit to your chequing account instead.

Do you need it? Or do you want it?​

​A 'want' is something you can live without, like:

• Eating at restaurants
  
• Entertainment - movies, concerts, travel / trips
  
• Luxury / designer goods​
  

​A 'need' is something you must have to survive, like:

• Food
  
• Safe place to live
• Clothes and personal hygiene
• Money for commuting / public transit / getting around