Assignment Budgeting

By: Ashnoor Arora

In real life, I spend various amounts of money per month.

Sometimes the costs can be really high and sometimes they are
really low. The price ranges from $300 - $1500. Since I dont earn
money myself I easily lose track of my expenses. If I had a budget
of $500 per month then I would need to spend my money really
wisely. If I did have a budget of $500 per month, then this is how I
would spend it:
First off, I would prioritize my categories and list them from
most important (needs) to least important (wants). Everyone has
a different opinion on this, but this is mine.

1.Food
2.Clothing
3.Cell Phone
4.Transportation
5.Recreation/ Entertainment
6.Personal Items
Next, I would look at my expenses for each category.

Food: This category is the most important for me because

without food I wouldnt be able to survive. I would approximately
spend about half of money on food, which is $250. Lets break this
down into 4 tables called breakfast, snacks, lunch, and dinner.
Breakfast
ITEM
PRICE
1 DOZEN EGGS
MILK (4 L)
BREAD (1.4 KG)
BACON (1 KG)
APPLES (1 KG)

$3.50
$10
$6
$12
$5

Snacks
ITEM

PRICE

2 BAGS CHIPS (30 OZ.)

COOKIES (20 OZ.)
FRUIT GUMMIES (20 OZ.)
GRANOLA BARS (3 OZ.)
COCA-COLA (6 L)

$8
$4
$8
$9
$3

Lunch
ITEM

PRICE

HOT DOGS (48 OZ.)

CHICKEN NUGGETS (4 LBS)
MAC N CHEESE (15 PACK)
DOLE MIXED FRUIT (1 LB)
YOGURT (2.25 KG)

$12
$11
$15
$10
$9

Dinner
ITEM

PRICE

CHICKEN BREAST (35 PCS)

ASPARAGUS (3 LBS)
POTATO SALAD (8 LBS)
KIDNEY BEANS (5 KG)
SPAGHETTI (16 LBS)

$26
$9
$9
$3
$14

This would be my approximate monthly grocery list for the 3

daily meals plus snacks. The total comes out to be $197.50 with
taxes and not including many things such as butter, sauces,
spices, and cheese. I would save the other $50 for things like
spices because they add flavour to food and also for emergencies.

Clothing: Clothing is second on my list because I care about

how I look and I dont find the other things to be extremely
important. As much as I like to buy new clothes I cant spend too
much because I still need to stay within my budget. I expect to
spend approximately $75 on clothes. The store that I would go to,
to shop for clothes would be Footlocker because their clothes are
less expensive and very fashionable. The first thing I would buy is
an Adidas pullover hoodie thats on sale for $20. This is the link
for this item: http://www.footlocker.ca/en-

CA/product/model:246992/sku:7351985/adidas-originals-fleece-bfpullover-hoodie-mens/light-blue/black/?cm=
The next thing I would buy is a pair of Adidas pants that are also
on sale for $20. This is the link for this item:
http://www.footlocker.ca/enCA/product/model:262675/sku:7352722/adidas-bf-ess-pantsmens/navy/yellow/?cm=. The last thing that I would buy is a Nike
t-shirt thats on sale for $15. This is the link for this item:
http://www.footlocker.ca/enCA/product/model:235773/sku:7351849/nike-zs-speckles-t-shirtmens/white/black/?cm=. The total including taxes comes out to
be $59 which means that I save $16.

Cell Phone: According to me cellphones arent so important

but theyre necessary for emergencies. I wouldnt get a plan but I
would get pre-paid minutes. I would get this from 7-Elven because
they have a company called Speak-out which sells airtime
minutes for a cheap price. I would get the $25 top up which
means that I get 100 minutes. This helps me stay within my
budget and gets me everything I need. The final price including
taxes comes out to be $26. This is the link for this cell phone
provider: http://www.speakout7eleven.ca/

Transportation: I dont get out of my house to often but when

I do I need a way to move. I can do this by getting a monthly pass
from Translink. This pass allows me to have unlimited travel on a
bus, SkyTrain, and SeaBus for one month. The price of this pass
including taxes comes out to be $55.50. The prices are available
on this website: http://www.translink.ca/en/Fares-andPasses/Monthly-Pass.aspx

Recreation/ Entertainment: I enjoy going out with friends

very much but to stay within a budget of $500 I have to decrease
my expenses. My estimated cost for recreation/ entertainment is
$80. The first place I would go is to watch a movie at Cineplex. I
would go on a Tuesday because the prices are cheaper. If I go to
watch a movie 2 times in a month on a Tuesday then the price
including taxes is $16. Another thing I would do is that I would get
a monthly pass for all of Surreys recreation centres. This pass

allows me to go to gym activities, weight room, swimming, and

skating whenever I want at any of the recreation centres in Surrey
for one month. The cost of this pass including taxes is $35. The
last way I would spend some of this money is by going to play
laser tag. On Sundays after 6 pm you get a discount at Planet
Laser. If I play 4 games in a month on any Sunday then it would
cost me $21.50 including taxes. The final price for the money
spent on recreation/ entertainment is $72.50, this is price is below
what I actually expected it to be.
Links to where I found this information:
. http://planetlazer.net/prices/individual-game-prices/
. http://www.cineplex.com/Theatre/silvercity-metropolis-cinemas
. http://www.surrey.ca/culture-recreation/6035.aspx

Personal Items: In real life I actually spend most of my money

on personal items, so this is where I need cut my expenses so I
stay within my budget. I expect to spend approximately $20 on
personal items. The only thing I would get is a Google Play Card.
This costs $16.05 including taxes. This card allows me to get
apps, music, movies, and books on my phone. This is the link to
where I found my information:
https://play.google.com/intl/en_ca/about/giftcards/

Summary: I learned many things throughout this assignment

including how to manage my money and stay within my budget. I
also understood the difference between a "need" and a "want".
This is the summary of how I spent my money in one month:
Income: $500

Expenses:
Food: - $250
Clothing: - $59
Cell Phone: - $26
Transportation: - $55.50
Recreation/ Entertainment: - $72.50
Personal Items: - $16.05
Total: - $ 479. 05
Left/Savings: $20.95