Grab a pen, a calculator, your pay stubs and your bills and start filling out our budget tables! Most importantly, keep them up to date!
A budget is obviously not carved in stone. It should evolve with your family life. It's there to help you stay in control.
Not big on paper? Use our calculator!
Further down, you will find a table to convert, as needed, all your figures into monthly figures.
Print out the following four tables to complete each budget item by hand.
Net Monthly Income
|Our Net Monthly Income (after deductions at source)||Family Budget|
|Investment income (interest, dividends, capital gains, etc.)|
|Rental income (apartments, cottages, etc.)|
|Various benefits (child support, insurance, disability, etc.)|
|Total monthly income|
Fixed Monthly Expenses
|Our Fixed Monthly Expenses (including taxes, if applicable)||Family Expenses|
|Mortgage or rent|
|Electricity and heating|
|Domestic services (housekeeping, lawn mowing, snow removal, etc.)|
|License and registration|
|Loan repayments other than bank loans (debts to a parent, friend, colleague, etc.)|
|Other fixed expenses|
|Total fixed monthly expenses|
*Credit cards are an unusual fixed expense as the balance and monthly payments can vary greatly from one month to another. For the purposes of your budget exercise, enter your average monthly payment based on the past twelve months.
Variable Monthly Expenses
|Our Variable Monthly Expenses (including taxes, if applicable)||Family Expenses|
|Tobacco, alcohol and lottery tickets|
|Sports and athletic equipment|
|Entertainment (music, movies, books, theatre, etc.)|
|Babysitting (for your nights out and other needs)|
|Diapers and baby products|
|Beauty care (haircuts, manicures, etc.)|
|Medical care (exams, equipment, etc.)|
|Medication (prescription and over-the-counter)|
|Therapeutic care (massages, diets, physiotherapy, etc.)|
|Property maintenance, repairs or renovations|
|Public transportation and taxis|
|Vehicle maintenance and repairs|
|Veterinary expenses and pet products|
|Gifts (birthdays, weddings, holidays, etc.)|
|Other variable expenses|
|Total variable monthly expenses|
Final Budget Calculation
Budget Calculation Summary
Net monthly income
So, are you in the red? No? Good for you! But before patting yourself on the back, have you looked to see if there was room for improvement? If so, don't hesitate to consult an advisor at one of our branches. He or she will be happy to get you back on the right track.
Turn your income and expenses into monthly amounts using this handy conversion table.
Calculating Monthly Amounts
|Amount Type to Convert||Calculation|
|Weekly (e.g. a weekly mortgage payment)||Multiply the amount by 4.333|
|Every two weeks (e.g. a payment made 26 times per year)||Multiply the amount by 2.167|
|Semi-monthly (e.g. a salary paid on the 15th and at the end of the month)||Multiply the amount by 2|
|Bi-monthly (e.g. an expense that recurs every two months)||Divide the amount by 2|
|Tri-monthly (e.g. a tax instalment every three months)||Divide the amount by 4|
|Semi-annually (e.g. an expense billed and settled every six months)||Divide the amount by 6|
|Annually (e.g. a tax credit, a driver's license payment)||Divide the amount by 12|