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Managing your budget

Whether it's for buying tickets to next month's concert or paying university tuition, a budget allows you to plan your finances according to your current situation and for the future.

A budget establishes your expenses based on your revenue, so you don't go into debt. Think of budgeting as a management tool that will allow you to optimize your resources in order to reach your goals and satisfy your needs. Try this step-by-step budget plan: 

Step 1: Evaluate your personal and financial situation

Step 2: Set financial and personal goals for yourself

Step 3: Establish a budget

Step 4: List your expenses

Step 5: Compare your budget with your real expenditures

Step 6: Do a follow-up of your financial situation and review your budget

For further information, you can visit:

Canadian Bankers Association

Canada Revenue Agency

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