Why Should I Budget?

There are various resources on campus that may have inspired you to budget: Scholarships & Student Aid Office, Frugal Scholars, and Rez Life amongst others. However, many McGill students do not budget vigorously (and some don’t budget at all).

I am guilty of not budgeting any of my expenses incurred during my time at McGill. One of my resolutions for the new year was to start budgeting so that I could control my cash flow and stop depleting my savings account. Initially, I did not see the point in budgeting because I had a part-time job, I was able to pay rent on time, and I had extra spending money for going out and shopping. But this was an unsustainable lifestyle because my balance at the end of the month was always a solid zero; I never saved up and I never invested my money effectively.

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