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1.5 Creating a Budget

It is important to be realistic about how much rent you can afford to pay each month. You don’t want to get into a situation that is unmanageable.  Planning ahead and making a budget is the best way to understand how much rent you can afford. 

You need to know what your actual monthly expenses will be and how much money you will have to cover these costs.  Skipping meals, never turning on lights, or walking 10 km to work are not realistic options! It's important to have a budget before you start looking for a place to rent.

After you have watched the budgeting video, there is a worksheet to help you create your own monthly budget.  Preparing a budget will help you determine how much rent you can afford.