Budgeting Scenario:

You have a budget of $500 to cover all of your expenses including

entertainment, food, clothing, personal items, transportation and
purchasing a cell phone. The only thing that you already have is
shelter and utilities (e.g. water, electricity, natural gas, etc). You are
unable to take on any additional work hours and therefore must make
your $500 cover all expenses. Your task is to demonstrate how you
have allocated the $500 for a month. You may have to do some
background research such as taking a trip to your local grocery store
or visiting a cell phone provider. Consider using websites that are
specifically targeted for the use of store coupons in order to save some
money. This project will give you a closer look at what is considered a
need and what is considered a want.

Transportation: 52$ (no tax)

Monthly 3 Zone Pass (Concession): 52$

Food: 200$ (Vegetables/Fruits, Grain, Dairy, Meat, Fats): 151.76 (+tax)

Classico di Lombardia Rose PastaSauce: $1.17
Great Value Dry Pasta Spaghetti: $2.97
(2) bananas bunch $6.00
Dempsters White Bread: $2.27
(2) Great Value 1 gal 2% milk: $5.10
Great Value Extra Sharp Cheddar Cheese $4.22
Great Value 12 Large Eggs $1.97
Catelli Gluten Free Spaghetti $2.47
Robin Hood Original All Purpose Flour 1 kg $3.18
Redpath White Granulated Sugar $5.42
Great Value Salted Butter Block $3.97
Great Value Dark Red Kidney Beans $2.57
Oranges $2.81/kg
Great Value Caesar Dressing $1.57
Rose Jasmine White Scented Rice 8.18 kg $15.97
(3) Campbells Cream of Mushroom Soup $5.91
Apples, Gala 3lb $2.77
Great Value Garlic Dill Pickles $2.77
Iceberg Lettuce $3.94
Roma Tomatoes $2.80
(4) Cucumbers $3.88
 Yellow Onions 3lb $1.97
(6) Garlic$1.38
(4) Red Bell Peppers $7.88
Carrots 3lb $1.97
Broccoli, Crowns $5.46/kg
Mushrooms, White Sliced 227g $1.47
Hellmans Real Mayonnaise $4.97
Great Value Canola Oil $2.74
Potatoes, Russet, Your Fresh Market $2.47
Maple Leaf Boneless Skinless Fillet Removed Chicken Breasts $10
Chicken pot pie:
Your Fresh Market Lean Ground Beef $6.50
Nature Valley Granola Bars 12 pcs $5.23

Cell Phone: $45.92 (+ tax)

Plan: 1 Year Rogers Plan Weekend and Evenings Calling Plan/ Unlimited
Texting $120/year= 10$/month
IPhone SE 16GB Koodo Mobile $21/month for 24 months +$10 for sim card

Clothing: 50$
Thrift Stores (Salvation Army, Value Village)

Personal Items (Hygiene): $22.86 (+tax)

Equate (18) Tampons $3.77
Equate (18) Pads: $2.94
Deodorant: Lady Speed Stick* Invisible Antiperspirant $1.97
Mascara: Maybelline Mascara Great Lash $4.96
Toilet Paper: Cottonelle Ultra Comfort Care Double Roll Toilet $5.98
Toothbrush: Equate $1

Entertainment: $20
Netflix: $7.99
Library cards
Hiking
Parks

Miscellanious: $50
Total (+tax): $440.78
Savings: $59.22

In this Budgeting Scenario I have taken very careful measures to ensure that I
am making the most of my meagre $500 by only considering my needs and not
my wants. I have even calculated exact tax and managed to save about 12% of
the total. In my foods section I bought many vegetables and fruits instead of
processed meals because not only is it healthier, it saves money overall. In
transportation, purchased a compass card for 3 zones because it is definitely
cheaper than buying a car and also more environmental. I decided to get a
cheap phone plan instead of purchasing a phone because it would be easier for
me to pay it off. In personal items I managed to allocate some money towards
mascara because in the working world I value a good appearance. There are
many thrift shops such as Value Village or Salvation Army that I could shop for
clothes in for good prices if I need to. In entertainment, I bought Netflix for
movies and realized that there were a lot of free options to be entertained such
as outdoor parks or free libraries. I had some money left over for emergencies or
miscellaneous to be safe.
This activity really helped me sort everything into two main categories: Needs
and Wants. I had to consider my health and basic needs before considering
things such as Netflix or others. In a world where we are consistently bombarded
by advertisements trying to convince us that certain things are necessary, we
must be calculative and learn to evaluate everything we need especially when
money is tight.