BUDGETING & MONEY MANAGEMENT
This website is all about saving money, so lets get down to it.
BUDGETING BASICS.......
Refer to this cost-of-living calculator to help you to create a realistic budget for living in Kamloops.
My favourite part about this great resource was that after using the calculator, it's results were in the negative (-$97). While I find that the housing listed on this calculator can be low by a couple of hundred dollars compared to the rental market that I have observed, I do find this to be an interesting way to compare living in different areas of BC, and to refer to when creating your own expenses & cost of living assessments.
If you are seeking a more user friendly budgeting
resource, try the mobile app Spendee. This app is free, with premium features costing $1.99 per month or $14.99 per year, which is not bad compared to You Need A Budget's annual premium cost of $84 per year.
I was seeking simple, easy on the eyes, and customization for budget & incomes. I tried many apps, and have landed on Spendee as a personal preference. Using this app allows you to keep track of your daily expenses as quickly as updating your Instagram story. You can schedule reminders, upcoming payments, and you can sync your banking account securely if you choose.
Spendee App
Use a Budget Template or App to keep track
One of the most popular and thorough budget trackers I have come across is sourced from this Reddit post and it is absolutely free! Within this subreddit, you can find some amazing tips & peers who are experiencing similar hardships. You can find the spreadsheet here.
Old Fashioned Spreadsheet
This budget program comes from the government of Canada himself. It is a pretty comprehensive budget planner and it gives you helpful tips by comparing your personal budget with a similar Canadian's budget. For example, it informed me that my pet expenses are higher than an average Canadian.
Budget Planner on Canada.ca
Pen & Paper
Sometimes using pen & paper is the most effective way of keeping track of money. Staples stocks notebooks called a Banking Record Book ($11.99) where you can document income and expenses easily. If you are creative, you could even color code it.
Another idea is to organize your expenses categorically and place the budgeted amount in cash inside of envelopes. This has been coined the Cash Envelope system and is quite popular, as it provides a visual of less money after spending & it limits the dependency of credit cards.
The Impact of your Spending
It would be unrealistic for me to expect anybody on a budget to stop going to Walmart or Superstore for the bulk of their groceries. I personally shop there regularly, too. More recently, however, I have become more aware and conscious of the things I buy from big box stores. Let me explain why.
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Big box stores import their products internationally, contributing to a larger carbon footprint.
Products sold at these locations are most often covered in unnecessary wrap & packaging.
There is usually no knowledge of if the product was created in an ethical workplace.
Mass production of fad-items results in increased landfill contribution.
The employees are usually getting paid unreasonably low.
Money is not being reintegrated into local economy.
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When you buy from a small business, an actual person does a little happy dance.
Art by Sarah L
Local Farmers Market Information
Saturday Market
200 block of St Paul St.
and the Stuart Wood schoolyard
Saturday Hours: 8:30-12:30
April 18th to October 31st, 2020
Wednesday Market
400 block of Victoria St.
(in front of the TNRD Library)
Wednesday Hours: 8:00-2:00
May 6th to October 28th, 2020
Wednesday Indoor Market
159 Seymour St.
(St Andrews on the Square)
Wednesday Hours: 10:00-2:00
November 4th to December 16th, 2020