A budget is a detailed list of the money you expect to receive and spend during a specific time. Budgeting helps you reduce unnecessary expenses, decide where to spend your money first, and prepare for the future, regardless of your financial situation.
How to make a budget
Record all sources of income and expenses that you incur every month. The objective is to calculate the monthly average of your spending and income. The more information you can dig up, the better.
Financial documents to collect:
Bank and/or credit card statements
Bills (electricity, internet, cellphones)
Student loan assessments
Loans, bursaries, grants, scholarship statements
Records of self-employment income
*If your paycheck has tax deductions, use the net income (take-home pay).
There are a lot of activities that you can do off-campus that don’t eat into your wallet: Montreal is a great city to walk – check out Old Montreal, Mount Royal and Ste-Catherine Street, to name a few. All are accessible from Concordia for free and you get the health benefits of walking, too!