1. Keep Your Balance A look into what it costs when you’re on your own

2. Food Consider the cost per day and multiply by 30. Estimate would be $300-$500 per month. Example: Someone who eats a bowl of cereal in the morning ($1), a sandwich and snacks at lunch ($6), chicken and vegetables at supper ($9). Each day would be about $16. $16 x 30 = $480 Think about if you would eat more or less than this amount…

3. A Place to Live: Rent These prices are all without utilities included. In town Apartment 1 bedroom - $700 2 bedroom - $900 3 bedroom - $1150 Not centrally located 1 bedroom $550 2 bedroom $700 3 bedroom $950

4. Utilities Heat, hot water, electricity 25% of TOTAL rent Example: 3 bed apt $1150 x 0.25 = $ 287.50 Then, this would be divided by 3, since there are 3 in the apt. $287.50 / 3 = $95.83

5. Cell Phone Basic Package $30/month Intermediate Package $70/month (data plan and unlimited texting) All Inclusive Package: $100/ month (data plan, unlimited texting, long distance, free evenings and weekends beginning at 5)

6. Cable Basic: $30/month Digital Cable - $50/month HD Digital Cable - $75/month Netflix Subscription - $8/month

7. Internet Unlimited High Speed $55

8. Furniture Think about how you will furnish your apartment. Get hand – me – downs or buy furniture when you move out? The costs for furniture can be anywhere from $20 - $250 a month depending on if you get used furniture or brand new with financing (or just brand new). Decide what you think you would spend.

9. Household Incidentals Laundry soap, cleaning products, etc. For most people the average would be $40.

10. Transportation Public Transportation Own a Car $80/month $5000 car, approximately $200/month for 2 years $10,000 car, approximately $400/month for 2 years $15,000 car, approximately $400/month for 3 years

11. Transportation Continued Gas – depending on how much you drive, and what you drive. Large Truck approx. $500, small car, approx. $250 per month. Insurance Females - $800/year or $67/month Males - $1200/year or $100/month Maintenance (depends on what type of car you chose – newer would need less maintenance, whereas cheaper would need a little more)

12. Clothing Depends on how much of a shopper you are! You decide what you think you would spend on clothing in a month. If you’re a super shopper, aim for about $300 or more. If you’re not a shopper, go with about $75 as you will need to make sure you have underwear without holes!

13. Personal Incidentals Tooth paste, soap, first aid, make up, shampoo, etc. $25 - $75/month

14. Recreation and Entertainment Consider movies, online video rentals, books, magazines, travel, restaurants, etc. Think about how much you would spend each month on the activities that you do/or the entertainment that you take in.

15. Health and Dental Insurance Everyone will budget about $80 a month for this.

16. Insurance for your Apartment $20/month

17. Savings for Emergencies Some of you are very conservative, whereas some of you wouldn’t think much about savings. Everyone should have at least $50 per month for emergency savings. If you are more conservative, you decide what would make you comfortable. 100? 200? You decide.

18. Gifts for birthdays and other holidays You decide what you think you would spend. Do you normally have to attend a lot of events/birthdays? If yes, you need to budget for that.

19. Travel and Vacations Will you be travelling anywhere? If yes, you have to factor in the costs of this as well. The average weekend trip to somewhere in NB would be approx. $500 (gas, food, lodging, etc) The average southern holiday would be approx. $1400 per person/week.

20. Add up your total monthly expenses Now, you will each receive a paycheck. Write down your job and monthly NET pay. The moment of truth! Fill in what your monthly pay would be, subtract your total monthly expenses and you will have your balance!

21. Your Pay Cheque! On average, a student with only a high school education, would make $13 per hour. Your job could be: Supervisor at DQ, employee at a store in the mall, call center employee, etc. You would be trained on the job, but not have paid for any further education.

22. So… At 40 hours per week you would earn $520 Gross, or $1040 every two weeks. Taxes, EI and CPP would take that to $897 every two weeks or… $1794 NET a month. (Income) How did you make out? Calculate: Monthly Net Pay – Total Monthly Living Expenses = Balance (what you have left over)

23. In the Black or in the Red? SURPLUS DEFICIT If your balance is more than zero, you earned more than you spent…good for you! If your balance is less than zero, you spent more than you earned…Oh no!