Your budget guide
Build a budget around your financial priorities and stay on track all year.
Build a budget around your financial priorities and stay on track all year.
Your budget helps you set financial goals, control your expenses and, if you have a shortfall, it can help you figure out why, and what you can do to get back on track. A good budget will also help you plan for the year ahead and avoid any unexpected expenses.
Here’s an example to illustrate what a budget should look like.
Download our cellphone app, now with a budget tool to help you manage your money better.
Some things to remember when setting up your budget:
A simple rule to consider when budgeting, is the 50/30/20 budget principle, where 50% of your household income should go towards essential expenses, 30% towards financial priorities, and 20% towards lifestyle choices.
Here’s a breakdown for you: