{"id":112783,"date":"2021-08-20T11:04:19","date_gmt":"2021-08-20T15:04:19","guid":{"rendered":"https:\/\/www.bbaf.ulaval.ca\/?page_id=112783"},"modified":"2025-11-13T07:43:58","modified_gmt":"2025-11-13T12:43:58","slug":"managing-your-budget","status":"publish","type":"page","link":"https:\/\/www.bbaf.ulaval.ca\/en\/my-finances\/managing-your-budget\/","title":{"rendered":"Managing your budget"},"content":{"rendered":"

Sound financial health starts with making, understanding, and respecting your own personal budget. With practice and good advice, you will develop your budgeting skills in no time! Check out the resources available below to help you make a budget.<\/p>\n

Fees<\/h2>\n

Proper planning is essential to ensure you have the financial resources necessary to meet your needs and pay for your studies. Be sure to review the detailed information available about your tuition and other fees.<\/p>\n

 <\/p>\nFees<\/a><\/span>\n

 <\/p>\n

<\/a>Sample expenses<\/h2>\n

Here are examples of essential expenses to plan for your study project, according to your student profile, in order to know the income that will be necessary to balance your budget throughout your academic career. These examples are intended to inform you about the cost of living in Quebec City and savings to plan. Find out about financing options to suit your profile<\/a>.<\/p>\n\n\n\n\n\n\n
International students*<\/th>\nCanadian citizens and permanent residents<\/th>\n<\/tr>\n
Sample expenses \u2013 Undergraduate studies<\/strong><\/a><\/td>\nSample expenses \u2013 Undergraduate studies<\/strong><\/a><\/td>\n<\/tr>\n
Sample expenses \u2013 Master\u2019s studies<\/strong><\/a><\/td>\nSample expenses \u2013 Master\u2019s studies<\/strong><\/a><\/td>\n<\/tr>\n
Sample expenses \u2013 Doctoral studies<\/strong><\/a><\/td>\nSample expenses \u2013 Doctoral studies<\/strong><\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

*Visit the Managing your money<\/a> page on the Bureau de la vie \u00e9tudiante de l\u2019Universit\u00e9 Laval Website to get information about: Bank account, Transferring money, Main financial institutions, Debit and credit cards.<\/p>\n

Budget tools<\/h2>\n

Creating a budget is not as tedious as you might think, and the benefits are undeniable. A budget can help you figure out your priorities, achieve specific financial goals, reduce stress, prepare for the unexpected, and avoid the consequences of excessive debt.<\/p>\n

 <\/p>\n

The Bureau des bourses et de l\u2019aide financi\u00e8re provides you with the following tools that allow you to establish a personalized budget<\/strong> to better guide you in your financial decisions and thus help you improve and maintain good financial health:<\/strong><\/p>\n

 <\/p>\n

Budget management grid:<\/strong><\/a> Simple and especially designed for university students<\/strong><\/p>\n

\"\"<\/a><\/p>\n

 <\/p>\n

Faistonbudget.ca<\/a>: Online interactive tool<\/strong><\/p>\n

The Faistonbudget.ca website features an interactive calculator to help you create a personalized budget. It will also help you update your knowledge of personal finance.<\/p>\n

\"faistonbudget\"<\/a><\/p>\n

 <\/p>\n

 <\/p>\n

Calculator – credit card<\/h3>\n

Exercise one or more of these tools will allow you to fully understand the risks associated with interest payments, improve your use of credit and help you limit debt:<\/p>\n

Calculator \u2013 credit card<\/a> of the Financial Markets Authority
\nCalculator \u2013 credit card<\/a> of the Financial Consumer Agency of Canada<\/p>\n

 <\/p>\n

\n

Money-saving tips<\/h2>\n
    \n
  • Create a budget:<\/strong> Sound financial management starts with making, understanding, and respecting your own personal budget. With practice and guidance, you\u2019ll develop your budgeting skills in no time! The Student Awards and Financial Aid Office is here to help.<\/li>\n
  • Reduce your<\/strong> debt<\/strong>: Borrow only what you need and schedule regular meetings with your financial planner.<\/li>\n
  • Avoid paying interest:\u00a0<\/strong>Set up automatic monthly payments of your credit card balance.<\/li>\n
  • Use a<\/strong> reloadable prepaid credit card<\/strong>: If you have trouble sticking to your own spending limits, this is a great way to keep yourself on track.<\/li>\n
  • Make<\/strong> your own meals:<\/strong> When you plan your meals in advance, you save a lot of money by cutting down on food waste. Make a list before you head to the grocery store, and then stick to it.<\/li>\n
  • Find a cell phone plan that fits your<\/strong> actual<\/strong> needs<\/strong>: Ask for quotes from a few different providers and negotiate. Keep in mind that many places offer free WIFI, so don\u2019t choose a package with more data than you need.<\/li>\n
  • Find<\/strong> low-cost housing:\u00a0<\/strong>The Universit\u00e9 Laval Residence Office has affordable accommodations close to many campus services and amenities.<\/li>\n
  • Avoid nonessential purchases:<\/strong> \u201cThink before you buy\u201d is a good practice for saving. Before you reach for your wallet, take a moment to ask yourself, \u201cDo I really need this?\u201d<\/li>\n
  • Check online for sales:\u00a0<\/strong>Compare products online before you go to the store so you can be sure to get the best price.<\/li>\n
  • Set money aside:<\/strong> Open a savings account to set money aside for your personal plans and dreams\u2014and to ensure you have a bit of a cushion for covering unexpected expenses without resorting to credit.<\/li>\n<\/ul>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

    Sound financial health starts with making, understanding, and respecting your own personal budget. With practice and good advice, you will develop your budgeting skills in no time! Check out the resources available below to help you make a budget. 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