By Megan DePutter, Positive Prevention Coordinator

Last Friday, Gary Roche (our Community Support Worker) and I held a workshop on Creative Solutions for Budgeting. The workshop was facilitated by Ken Harvey from Ontario Works.  I thought I would share some of the information from the workshop that will help you get started on a budget if you missed the workshop.

How to budget

The first step in budgeting is to track your income and expenses. Begin by calculating all of your income from various sources for one month - include income from your wages, government assistance, cash gifts and any other income.  The total amount will be your total income.

Next, track all of your expenses for the month. This will be trickier because you need to record everything you've spent. Write down every purchase - even if it's just for a pack of gum or a newspaper.  It might be helpful for you to carry around a small notepad to track the expenditures.

At the end of the month, total your expenses and subtract it from your total income. If you're in the negative, it will be time to start making a few cut-backs! Luckily, once you have a list of all your expenses, you can see pretty easily where your money is going and how you can start to save money.

Making a new budget for you might take some experimenting. Eventually, you'll get one that works for you.

Tips to save money and stay on budget

1. Get some friends involved. Sticking to a budget is not easy, especially if you love to shop! Getting some friends together will really help you along. You can do this in a few ways:

2. Set small, manageable goals, and then find small ways to reward yourself when you reach them. Having lofty, long-term goals is great, but try to set some smaller, more manageable goals in the meantime. Then find ways to treat yourself to celebrate every small success. Treats might include an ice cream cone, a food you really like from the grocery store that is a bit more costly (like a steak), or a walk or jog through a nature trail.

3. To avoid making impulse purchases, make a list of everything you want and wait until the end of the month. Sometimes writing it down will make you realize that the thing you want isn't quite as meaningful as you once thought.  At the end of the month, take a look at everything you've wanted and decide what is really important to you. Having a clear list will help you make more thoughtful decisions about where and how you spend your money. It will also help you set goals to buy what is really special to you, and not just everything that crosses your path.

4. Find alternatives to buying new. If you have your eye set on an expensive new item, check out thrift stores to see if you can find a similar alternative to the item at a fraction of the cost.

5. Utilize community resources. Take advantage of the public library to borrow books, movies, and CDs, use the internet, or join in on book clubs, movie screenings and craft workshops.  The Arboretum features 408 acres of beautiful nature trails and gardens to enjoy at zero cost. The West End Rec Centre offers gym facilities, pools, and an arena, all which can be enjoyed for small fees. The YMCA also offers discounted memberships depending on your financial situation. Take advantage of these great community resources for opportunities for entertainment and fitness! Another great community resource is the Garden Fresh Box. You can order a great big box of fresh veggies and fruits from the Guelph Community Health Centre for $15-$20. Consider getting a friend or roommate to share the box with you to make this even more economical. For more information, visit the GCHC's website.

What is your best tip for staying on budget and saving money?