You have a budget of $500 to cover all of your expenses. The only items that you already have are shelter and utilities (e.g. water, electricity, gas, etc). Since you cannot take on any additional work hours, you must ensure that your $500 covers all expenses. Your task is to demonstrate how you have allocated $500 for one month.
Cost of food This is by far the greatest expense, and the greatest need. I simply have to eat. Things that can reduce food cost: -rarely eating out -cooking everything from scratch, packing away lunches/dinners for later use -having a meal plan, not free styling it at the store -eating not fancy meals, like home-cooked oatmeal -storing uneaten food to eat later
The average Canadian pays $200-$300 for food each month. If I used the previous strategies, I could put myself at the low end (maybe below) of the average. That is, $200. some costs: (all estimated from superstore) -quick oats for breakfast every day: $10 -bread mini pizzas for lunch everyday: $18 -dinner out once or twice a month: $35 -fruit/raisins for snacks: $20 -miscellaneous meals for dinners: $55 -other foods (eg: eggs, soup) to add variety: $30 -milk/other drinks: $10 totaling: $178
Cellphone plan: -$25 toiletries/soap: -tooth brush, paste, floss toilet paper: $24 -soap: $14 bus fare/bike maintenance: -10 bus trips: $17.50 -helmet/oil/tools etc... :20 clothes/bedding/shoes/towels (I will already have many to begin with): -$35 BC healthcare: -$75 saving (for retirement, car, etc...) -$20 total: $230.5
Conclusion Well, it is possible to get by with $500 for non-unities. While doable, it remains very tight. If I were to make changes, I would probably try to save as much in the food section, as five percent saved in food is much more than five percent in clothing. If I still had to cut down, my clothing and household item categories would be trimmed. Even if I made $500 each month, I would still have to pay for untilities, tuition, and rent.