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In this article, I'll go over fundamental budgeting strategies as well as how to grow and become more financially stable through budgeting management. Also, I'll discuss how inflation has affected many international students, as well as recommendations for first-time car purchasers, what mental and physical health issues can be caused by financial stress, as well as what to expect financially if you relocate to Canada. I hope you enjoy reading my following padlet and hopefully learn couple new things.

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Summary: This video discusses an individual who purchased food that is worth $20 that will last a week in Canada and also discusses how food inflation is currently very high. They displayed the many foods they purchased, including bananas, oats, carrots, chicken hotdogs, eggs, macaroni noodles, yogurt, and tomato basil pasta sauce, and their total cost was $20.10. In addition, they stated how they located cheaper things which is by visiting cheaper places like Walmart and looking in the Halala section. Throughout the video, the creator suggests tips by selecting highly nutritious food and big food portions that are very fulfilling. They all emphasized the significance of meticulous planning and strategizing in order to buy and make the most of a limited budget.

I chose this video because you get a great understanding of how many items you can get just for $20 in a week, especially during inflation. This video is different because it demonstrates how a person can just survive with $20 in a week and still have a balanced meal and can budget. It's truly amazing that you can survive for a week on $20, and it all boils down to shopping at lower-priced places, taking advantage of promotions, and using coupons to save money. Also, look for the halal section, where you can occasionally find cheaper items. One piece of information I have found that was useful in the video is finding food that is very fulfilling and has large quantities, such as oats. Oats are high in fibre which makes you full easier and that source of food can last for a while and generally save you money.

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HOW TO EAT FOR $20 A WEEK IN CANADA | Emergency Extreme Budget Grocery Haul 2023

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The producer of this YouTube video shows Alyssa placing her excess money after she has paid all her bills and variable expenditures. She divides her $450 in leftover money into different categories such as personal expenditures, automobile, health, emergency fund, miscellaneous, boyfriend, school, retirement, and so on. Alyssa changes her categories fortnightly, and over time she has saved a lot of money for each area, which has helped her financially. Alyssa stresses the importance of budgeting and saving for future expenses. She also took care to budget appropriately in order to give herself a gift for her birthday while still being able to enjoy life.

I chose this video because it shows a person from a lower income and how they efficiently budget in order to survive in Canada; this is especially useful for younger individuals who don't know how to properly budget for long-term or short-term goals, and it essentially helps them have a better understanding. Alyssa's budgeting list was one piece of information that I found valuable and may start using; she has an envelope with multiple categories and invests money into them bi-weekly. This video differed from the others in that I learnt new budgeting strategies and found her way to be highly organized and simple to implement, so I might try it out and see if it is acceptable for me.

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April 2022 cash envelope stuffing and sinking funds! | low income budget | Canadian currency

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Summary: This film introduces two new couples from Alberta, Canada. Who has lived in Canada for a year and shares their experience as a freshly immigrated couple. They provide an overview of the typical cost of living in Canada and generally define what you may expect if you decide to relocate to Canada. They had a breakdown of their monthly spending for rent, home and auto insurance, gas, miscellaneous expenses, savings, personal enjoyment, groceries, utilities, and internet. They also emphasized the significance of saving in Canada, as well as being careful of your expenditures and staying within your budget.

I chose this film because it is eye-opening and depicts a newly immigrant couple's challenges in Alberta, Canada. Also, one useful piece of information I have discovered in this video was a rough estimate of future expenses; it honestly made me realize that I should prepare myself in the future and expect the amount of money going towards all the different types of expenses and essentially how I can budget and make sure to feel less stressed out in the future and see what steps I can take now to help me out in the future.

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COST OF LIVING IN CANADA 2022: How Much Money We Spend Monthly In Alberta 💰 | The OT Love Train

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Summary: The creator of the following video discusses the importance of budgeting and how it can help you manage your money effectively by setting a spending limit, feeling in control of your money, reducing stress, having more money to spend on things that are important to you, and finding ways to pay down your debts, among other things. The designer also advises answering topics such as why budgeting is required, future goals, and so on. The video also suggests tracking your spending and categorizing your wants and requirements, as well as making tiny changes to your spending habits in order to be financially stable in life. Furthermore, the inventor emphasized the need to accumulate emergency funds to address any potential issues that may arise, which can be used in the future.

I chose this video because it covers the fundamentals of budgeting and the importance of budgeting for beginners. Essentially, this video will help you understand budgeting and will be useful in the future.  When the inventor requested the viewers to answer the following questions, I found it quite useful. 1. Why do I need to budget? Is it necessary for me right now? 2. What do I aim to accomplish in the future, and where do I want to be? 3. Where does my money go? 4. What are my wants and needs? These questions force you to critically think about the way you should spend your money, how to budget, and how it will influence you in the long run. I found it really useful when they asked what my needs and wants were; it is critical to determine and figure it out, and to exclude any unneeded material. Another crucial component is determining where all of your money is going, knowing where most of your purchases are going, and constantly checking your bill statement and receipt to see where the majority of your unneeded purchases are going, so you can establish a limit and assist your budget. Overall, have a good understanding of your spending pattern.

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Making A Budget For Beginners Canada|Budgeting Basics For Beginners|Why You Should Start Budgeting

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Summary: This article describes numerous students who are fighting for more inexpensive postsecondary education and how budgeting is tough due to the presence of inflation and other reasons.  Each student describes their financial difficulties and summarizes their overall tuition and other expenses. Most of them are struggling financially, and even working full-time isn't enough, and even parental support isn't enough. They are advocating so that their voices may be heard and the government can take action; otherwise, significant poverty and economic damage will result.  Also, due to the high cost of tuition and regular living expenses, international students may be unable to study here and may be forced to return home, missing out on an education opportunity.

I chose this article because it highlights how many postsecondary international students are trying to maintain financial stability as a result of the inflation that has affected everyone. Also, how the expense of living is so unaffordable and unrealistic these days, making it harder to budget. One piece of knowledge I found valuable was realizing and comprehending the difficulties faced by overseas students because they pay double the tuition fees as Canadian citizens, which is regrettable and unfair to them. This presented numerous challenges for them, as they took out numerous debts and were continually concerned about how to repay them. Also, some international students have it tougher than us because they have made such great sacrifices by leaving everything behind and coming here for better opportunities in life. Also, after you graduate from high school, there is no assurance that you will find a respectable job that pays a consistent income, especially with the job market being so bad and overall having high expectations for work.

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Everything seems to be getting more expensive. Food, gas and housing prices are on the rise while paycheques are slow to keep pace. The CBC News series Priced Out explains why you're paying more at the register and how Canadians are coping with the high cost of everything.
Facing ever-rising tuition as well as higher prices for food, housing, and other necessities, post-secondary students in Canada are concerned about the debts that loom after graduation.

Five students told CBC News about their costs of living and the financial pressures worrying them.

Nicolas Avendano, Toronto

Program: Architectural technology, Centennial College Tuition: $8,000-9,300/term | Housing: $1000/month | Food: $300-350/month | Transportation: $100-150/month | Books: $250/year | Internet $40/month | Phone: $66/month
Nicolas Avendano tries to live as frugally as possible.

The 28-year-old shares a downtown Toronto basement apartment with a roommate, favours free activities when meeting friends and cooks meals at home after shopping for sales at the supermarket. His parents, living in the U.S., help him with tuition and housing, but he also works a fast-food job to help cover the bills.

Yet the Colombian-born international student faces tougher decisions these days. Pay for public transit or walk? Start eating smaller breakfasts or perhaps smaller meals altogether?

"There are times when I just say, 'Maybe I won't go out, because I don't have money for that,'" noted the college student.

Avendano believes post-secondary tuition should be more affordable - especially in face of other costs rising so substantially - in order to be accessible to more students.

Education "shouldn't just be a thing that you can access because you have the money or the economic standing in order to achieve," he said. "I think that's definitely one of the reasons why society is becoming so stratified between the rich and the poor."

Nor should students be forced to live in total deprivation, he added.

"There's a lot of criticism against young people for wanting to lead full, meaningful lives instead of just working and studying every single day, non-stop."

Dane Monkman, Winnipeg
Tuition, books & transportation: $4,000-8,000/year (3 terms) | Housing: $600/month | Food: $300/month | Internet: $50/month | Phone: $120/month
In Winnipeg, 26-year-old Dane Monkman is a graduate student advocating for lower tuition rates. In the 2018-2019 school year, University of Manitoba students saw a tuition hike of 6.6 per cent. For three consecutive years afterward, students saw annual increases of 3.75 per cent.

"During the pandemic we're seeing an increase in tuition every year," Monkman said. "That's obviously coming at a time where things are getting worse - and a lot of the time that causes a barrier for students to access post-secondary education."

Monkman, who is a member of Peguis First Nation, knows he is lucky to have his tuition and textbooks funded by his band. He also shares his off-campus living costs with his partner, but he recognizes other students may not have those kind of financial supports.

Monkman maintains that those in positions of power are making decisions regarding tuition that minimize the chances of lower-income students ever reaching those positions themselves.

"They essentially are kicking away a ladder that will prevent further students from getting into these sort of same jobs or these same positions of power to make decisions."

Monkman has family members who have chosen not to pursue a higher education due to the financial strain it would place on themselves and their families. Some are just out of high school and unable to fathom attending university due to the cost, he said.

"That's really unfortunate because it should be a right for everyone."

Yasmin Gardy, Burnaby, B.C.
Tuition & transportation: $7,500/year | Housing: $1700/month | Utilities: $35/month | Food: $400-600/month | Books: $240/year | Internet: $70/month | Phone: $60/month
For students who live in B.C., pressures like rent and food are huge financial concerns.

Yasmin Gardy, 33, chose to live in the Edmonds neighbourhood in the city of Burnaby due to its proximity to campus. With rent as high as $1,700 per month for housing, she took out loans to pay for both her tuition and living expenses.

"I reached out to receive some financial support from the Jewish community here in Vancouver," said Gardy.

Gardy, who emigrated to Canada alone 10 years ago from Israel, turned to the Hebrew Free Loan Association of Vancouver. It's helping her stay afloat in her last term before graduation.

As for food, another major financial constraint, Gardy again turned to her community for support. This past January, she registered for the food bank for the first time after things became difficult. She now regularly makes an appointment to pick up the basics such as bread, eggs, cheese and vegetables.

"I [had] an opportunity to go to their location and pick up a basket that helps me, as well to reduce the expenses of food for a month," Gardy said.

It's her hope that the government expands the range of financial supports and resources available to students.

"The biggest one is if it's possible to plan toward having higher education be something that is available for free for citizens and permanent residents."

Gaayathri Murugan, Corner Brook, N.L.
Tuition: $5,000-$6,000/term | Housing and internet: $1,700-2,100/term | Food: $1,000 per term for meal plan, $150-300/month groceries | Transportation: $200-300/month | Books: $100-200/term | Phone: $40/month
The number of international students studying in Canada has risen for years, representing nearly one-fifth of university enrolments until just before the pandemic, according to Statistics Canada.

Yet most don't truly understand just how expensive school is for international students, says visual arts student Gaayathri Murugan - including those domestic classmates sitting next to her at Memorial University.

That the 22-year-old pays so much more to sit in the same classes came as a surprise to them, said the fourth-year student, who took out a loan in India to pay for her studies in Canada and works several part-time jobs and volunteers on campus.

Many don't know international students can only work a maximum of 20 hours per week during school, she pointed out, or that they're explicitly excluded from opportunities such as Canada Summer Jobs, a federal program matching students with summer work experiences.

"I really feel like international students are treated like cash cows and it's just not very fair to us because we are also just trying to get an education," said Murugan, who's hoping to find work in Newfoundland's arts sector upon graduation.

"It's so hard to get out of university and just start your life with so much debt already."

Colin Crawford, Montreal
Tuition: $4,760/year (3 terms) | Housing: $500/month | Food: $400-450/month | Transportation: $50/month | Books: $200/year | Utilities: $500/year | Internet: $60/month | Phone: $50/month
"It's just more and more expensive to be a young person in the world," says Colin Crawford, a Concordia University PhD student who shares an off-campus apartment in Montreal.

After working a few years to pay off the student loans for his undergrad, the 28-year-old has been able to secure scholarships to pay tuition for his graduate and doctoral studies. He's held multiple jobs to cover everything else, juggling being a teaching and research assistant with part-time gigs at local cafes, for instance.

With another two years to go in his program, he worries about further tuition increases along with a precarious job market post-graduation.

Young people are pushing the traditional markers of "becoming an adult" to their 30s and even 40s, said Crawford, who is working to start a Canadian branch of The Debt Collective to lobby for free post-secondary education and the cancelling of student debt.

Younger generations are taking longer to even think about starting a family or owning a home, he said, because "so many people are driven into debt or just kind of getting by, paycheque to paycheque."

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Rising tuition, student debt weigh heavily on post-secondary students | CBC News

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Facing ever-rising tuition as well as higher prices for food, housing and other necessities, Canadian students shared their costs of living and the financial pressures worrying them.

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Summary: This website is a budgeting planner with many unique features. You basically get to respond and fill out the following question. This website would take your overall spending and inform you whether you are spending more than your budget limit or spending less. It also explains the categories you should reduce or increase your spending. In addition, at the end, they offer some suggestions and remarks to help you if you need to improve on a specific category and describe how you can better, such as spending on using a credit card. Furthermore, they provide a visual depiction of a pie graph and borough representation of where most of your spending goes, as well as a comparison to other average Canadian financial budgeting.

I chose this website because it is the first step toward improving my budgeting skills and having a better understanding of how budgeting works. This website can aid you with goal setting by allowing you to set financial goals and support you in achieving them. This budgeting strategy is convenient because it is easily accessible over the Internet.  One piece of information I found valuable was when the website provides general feedback and a visual depiction of your spending, which I find interesting because I am a visual learner and seeing bar graphs or pie charts allows me to absorb it better and retain the information.

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The Budget Planner helps you create a customized budget in 3 simple steps. Gather information regarding your income and expenses and get started! If you don't have all your information, you can always save and continue later.

By using this tool and its content, you are agreeing to these terms of use.

Save your budget and continue later via a unique link

Personalize your budget to meet your needs

Make budgeting easier with tips, guidelines and alerts

See charts and comparison to your average Canadian

Get next steps with suggestions and useful links

Earn badges and share your success story

Download a spreadsheet

* The Budget Planner has been developed by FCAC and incorporates in part the Budget Calculator Spreadsheet under license from Credit Counselling Society. All rights reserved.

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budget planning; savings; personal finance; budgets; financial management; banking; personal income

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Create your budget and receive personalized tips and suggestions to improve your financial situation.

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This article covers a few useful recommendations for first-time car buyers, including studying the pricing range of the vehicle of interest. If you are on a tight budget, you can also look for minor flaws in the vehicle, such as minor dents or dings, scratches, peeling clear finish, and so on. Also, as the year comes to a close, vehicle prices will fall since dealerships are attempting to discharge the previous year's inventory in time for the new models to arrive the next year. Before purchasing a car, make sure to inspect it and drive it to ensure that it works properly and that there are no severe faults. Another recommendation is to request service records and vehicle history reports to see what big issues occurred and don't be afraid to negotiate the price.

I chose this website because it is crucial for first-time purchasers to have basic knowledge and tips before buying a car, as well as choosing a car within your budget. This website offers several money-saving advice for individuals on a limited budget. For example, if you're looking to buy a used automobile, make sure to ask for service records and car history reports to ensure the car is in good shape and hasn't had any serious issues. A valuable piece of advice I received was to not be scared to haggle the price. This is vital since many salespeople will recommend and influence you to get a higher-priced vehicle, so make sure not to be fooled and keep within your budget. I believe this is a crucial issue because people are easily influenced, and if they hear about any unique features or the appearance of a car, it will attract their attention and make them vulnerable to purchasing a car that is out of their price range.

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Tips for a first-time car buyer with a stretched budget

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Buying your first car can be as exciting as it is daunting. Whether you're buying a car off the lot from a dealership or purchasing a car in a private sale, contributor Christopher Liew shares in an exclusive column for CTVNews.ca a few basic tips that you should always keep in mind.

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Summary: This page highlights the costs of financial stress and the effects it can have on a person's mental and physical health. It depicts the various types of statistics that Canadians experience in terms of financial stress, such as household bills, dealing with high levels of debt, having difficulty saving for long-term and short-term goals, and so on. Finally, stress can cause sleeping issues, headaches, and other illnesses, which might have an impact on your personal relationships. Financial stress can lead to major health concerns such as heart disease, anxiety, and depression. Many Canadians have clearly said that stress related to personal finances has had a significant impact on their work performance.

I chose this website because it depicts the effects of financial stress on a person's emotional and physical well-being. It is important to acknowledge yourself and communicate with and encourage those who are experiencing financial difficulties. Understanding that financial stress might impair your overall work performance is something I found valuable and had not before considered. There have been times when I was stressed out due to personal issues, and it had a huge impact on my performance at work; I was continuously mentally and physically fatigued, and I wasn't able to finish tasks well because I was stressed out.  Also, a valuable saying that I would always remember "is if you feel this way, remember: you're not alone." This statement discusses financial stress and reassures you that you are not alone in experiencing it; many others are as well. When the time comes, you will overcome the problem while maintaining a good attitude.

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Mental, physical and financial wellness are three pillars of good health.

But for many Canadians, money worries are the greatest source of stress, more than work, personal health and relationships. In fact, research shows:

48% of Canadians say they've lost sleep because of financial worries

44% say it would be difficult to meet their financial obligations if their pay is late

There are many sources of financial stress, including:

Managing household expenses

Dealing with high levels of debt

Living pay cheque to pay cheque

Struggling to save money for short and long-term goals

Dealing with unexpected expenses

If you feel this way, remember: you're not alone. Financial stress affects working Canadians of all income levels and age groups.

Impact of financial stress on your physical and mental health

Did you know?

If you are dealing with financial stress, you are:

Twice as likely to report poor overall health

Four times as likely to suffer from sleep problems, headaches and other illnesses

More likely to experience strain in your personal relationships

Financial stress can also lead to more serious health problems, such as:

Heart disease

High blood pressure

Mental health conditions such as depression and anxiety

Impact of financial stress on your work

Financial stress doesn't only affect you personally. Almost half of working Canadians admit that stress related to personal finances has had an impact on their performance at work.

It doesn't have to be this way. Learn about the benefits of investing in your financial well-being.

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Find out how financial stress can impact your physical and mental health, and life at work.

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The 50/30/20 rule is a common method of budgeting. This is an effective budgeting method because it divides 50% of your spending into variable expenses, 30% into shopping for yourself and buying things you want for satisfaction, and 20% into savings to help you in the future when you want to buy things for long-term or short-term goals. This is an excellent strategy for financial discipline since you have control over your money and know where the majority of your money is going.

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The image above is a wonderful example of smart goals, and I'm going to break down my thoughts on smart goals and elaborate more. Smart goals are a wonderful method to make financial goals since being able to identify the exact objective you are aiming for makes you more likely to stay motivated and disciplined, and there are ways to measure it such as checking your expenses and setting a limit. Also, ways to reach this objective, such as working more hours to earn more money and for reasonable make sure the aim you choose is practical and achievable. Lastly, is the time frame you set for yourself sufficient to finish it and determine whether it is a short-term or long-term goal?

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1. What did you learn about your topic that surprised you the most?

I was most surprised by the double tuition fees that international students pay for post-secondary education compared to Canadian citizens, and even if they consider budgeting, it's still unrealistic in this economy due to inflation, which governments aren't doing anything to reduce. Many overseas students, I've heard, are facing homelessness, and even a minimum wage job isn't enough since every time the minimum salary rises, other essentials rise as well, which doesn't balance things out. Another topic is that when one of the content creators can survive on $20 worth of food for a week in Canada, I am honestly amazed because food is so costly right now and you can save a lot of money simply by cooking at home and looking for coupons. Alyssa also ensures that the portions are adequate and that the daily nutrient requirements are satisfied.

2. Provide a real-life example of how this topic is relevant or interesting for you.

The topic is relevant to me because I am now attempting to budget in order to assist me financially and be stable in the future. When I was younger, I was reckless with my money and would often shop on impulse because I didn't have any expenses to worry about because my parents paid them for me. It has changed in the last year because I pay for my own rent and other requirements. It's good because I feel more responsible and developed. This has given me more control over my money, and I now know how to budget effectively. I've been using the 50/30/20 budgeting system for a few months and it's been working well for me; I just changed a few things to make it 50% needs, 30% savings, and 20% wants. I'm honestly proud of myself, and perhaps, if I stick to my strict budgeting, I'll be able to buy my prospective future car within four years.

3. If you could pass on your knowledge to a family member or friend, what do you think is the most important thing to pass on?

The most crucial information I would pass down would be first-time car buyers. This is essential because I feel the younger generation today does not know how to properly spend their money and would simply buy a car based on appearance which is within their budget. I personally know someone who is struggling financially because they took a car out of their budget and are now giving it back. A tip I would give and things you should think about before buying a car is to buy it at the end of the year when cars may be on sale and negotiate with dealerships for lower prices and see if you can negotiate your interest rates when buying a car such as no payments for 60 days, extremely low down payment, and free oil changes yearly.