Then youвЂ™ll have a little extra available when you need it.Д®ntertainment / recreation / tobacco/alcohol / eating out / gaming / hair cuts / hobbies Plan to save money for expenses that donвЂ™t occur every month, as well as for your future. Many people find that their budget is quite tight because their monthly debt payments are closer to 25% of their net income. Health care premiums / specialists / over-the-counter Phone / cell phone / gas / cable / internet Mortgage / taxes / strata / rent/ insurance / hydro If you have expenses such as high debt payments, childcare, school expenses or giving, you will need to reduce your spending in other areas to accommodate these higher expenses.Д«reakdown of Cost of Living BudgetingВ CategoriesД«us / taxi / fuel / insurance / maintenance / parking To use these budgeting guidelines, start by developing your budget with the money you have available after government deductions from your pay cheque, but before voluntary deductions like RRSPs, pensions or other savings. Based on your income, family circumstances, and the part of the country you live in, your allocations may be very different. Below are some guidelines to give you a general idea and provide you with a starting point for your budget. Many people often wonder how much of their income they should spend on their home, vehicle, groceries, clothes, etc. Budgeting PercentageВ Guidelines forВ Living Expenses | How Much to Budget for Cost of Living in Canada

Personal budget pie chart